PSB Bank opens new location on Bush Road

PHILIPSBURG–PSB Bank is now more easily accessible to its clients after officially opening its new location at the recently-constructed Miss Lalie’s Commercial Centre on Bush Road, Friday evening.

  The new location is more spacious than the former location at Juancho Yrausquin Boulevard and features parking for clients’ added convenience.  

  The Bank celebrated its relocation by donating NAf. 2,500 each to Tae Kwando Foundation and Emilio Wilson Historical and Cultural Foundation.

  Addressing guests on behalf of Prime Minister William Marlin, Justice Minister Rafael Boasman said the opening of the bank’s new location is an indication of “how well” the economy of St. Maarten is doing, noting that investments would not be made if there were no potential for growth and profit.

“The opening of this new office of PSB Bank signals that, in spite of the doomsayers, this economy is moving in the right direction,” Boasman said. He said he understood that PSB had moved to the location because its strategy in St. Maarten is to grow the bank.

“I am sure the clients of the bank must be very happy about this move. Not only was the bank’s former location on Juancho Yrausquin Boulevard leading to Pointe Blanche too small, resulting in customers having to queue up outside, but it also offered no parking space, making it difficult to access,” Boasman pointed out. “In this, your new home, it is clear that you will be much more visible and accessible to the public. You therefore have no excuse but to make do on your slogan.”

  He said the knowledge and expertise PSB had accrued in its more-than-century-long history should be put to good use at the new location. Banks, he added, have a role to play in making sure that persons are financially responsible and do not spend recklessly. This can be done by encouraging them to spend wisely.

  Banks also need to establish education programmes for consumers, he said.

“I do not claim to be an expert in this field, but it is clear to me that banking, an institution that has been with you practically from the beginning of time, is not well understood by a vast majority of the people. This suggests that banks need to establish an education programme that would make the public more financially literate, because a better-informed clientele normally would result in better business for banks in better understanding the protection for the consumers,” Boasman noted.

  He said also that if serving customers is what PSB says it does best, then perhaps the time has come for the bank and Government to discuss how, for example, civil servants and Government employees can get better services, better rates and better opportunities with loans, insurance and savings with PSB, as the bank already deals with many Government employees.

  He congratulated the bank and its staff on the opening of the new office, wished them much success in their new location and said he hopes the institution will embrace its social responsibility in further developing St. Maarten’s economy.

  Branch Manager Wayne Johnson went a bit down memory lane, noting that PSB is 112 years old. The bank was established in 1905 and most of the attendees at the opening ceremony had, at one point or another, had a savings account with PSB or still have one, Johnson said. He boasted that PSB had the best interest rate back in the old days as well as today.

“We still offer the best interest rates on guilder savings accounts. Our slogan is ‘Committed to Serving the People of St. Maarten’ and truly that is what we do and continue to do each and every day that we come to work,” Johnson said.

  PSB has approximately 20,000 savings account clients in Curaçao and St. Maarten, he said, adding, “This is no little feat that we have to manage as well. We have evolved and offer what most commercial banks offer in terms of loans and focus on our core business such as car loans, personal and mortgage loans and our Express loans in 24 hours.”

  He said also that PSB is on the move and urged attendees and clients to be on the lookout for some additional bank products the institution plans to offer in the coming year.

“PSB can only grow and get bigger, as we have ample parking (front, back) and as you know, in St. Maarten parking is a major factor for any business,” he said.

  He thanked all those who had been involved in making the relocation to the new building a success.

  Also speaking at the opening ceremony were PSB’s Chief Executive Officer (CEO) Daniel Hodge, Vice-President of Parliament Rodolphe Samuel, representative of the PSB Supervisory Board Rignaal Francisca, Miss Lalie’s Commercial Centre representative Franklin Meyers (a Member of Parliament) and Sylvia Meyers-Olivacci. 

Source: The Daily Herald