Banque de l'Union Haïtienne
Encyclopedia
Banque de l'Union Haïtienne, S.A. better known as BUH is a full service bank
operating in Haiti
. Founded in 1973, it is the first Haitian private bank.
. The idea was born from a meeting in the Dominican Republic between Haitian businessman Clifford Brandt and Banco Popular's then president, Alejandro Grullon, in 1972. Given that there were no Haitian private banks at the time, a preparatory committee was formed after, Alejandro Grullon offered his support making available to the committee the by-laws and relevant documents of Banco Popular. The by-laws were then modified to be in harmony with Haiti's laws. On June 2, 1973, a General Assembly
composed of 420 shareholders approved its formation, its first set of by-laws dated August 14, 1972 and elected its first Board of Directors
consisting of nine members and a Comptroller
. Finally on July 26, 1973, BUH started its operations with a personnel of 46 men and women at 102, Rue du Quai in downtown Port-au-Prince.http://www.buh.ht/Company_History.htm
In June 2006, BUH entered into an alliance with Antigua
based ABI Bank Ltd. http://www.buh.ht/Press%20Release%20Pages%5CPress_Alliance.htm Today the bank has 12 branch offices
and over 2000 shareholders, making it one of the most widely held companies in Haiti.
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
operating in Haiti
Haiti
Haiti , officially the Republic of Haiti , is a Caribbean country. It occupies the western, smaller portion of the island of Hispaniola, in the Greater Antillean archipelago, which it shares with the Dominican Republic. Ayiti was the indigenous Taíno or Amerindian name for the island...
. Founded in 1973, it is the first Haitian private bank.
History
BUH was founded in affiliation with Banco Popular Dominicano of the Dominican RepublicDominican Republic
The Dominican Republic is a nation on the island of La Hispaniola, part of the Greater Antilles archipelago in the Caribbean region. The western third of the island is occupied by the nation of Haiti, making Hispaniola one of two Caribbean islands that are shared by two countries...
. The idea was born from a meeting in the Dominican Republic between Haitian businessman Clifford Brandt and Banco Popular's then president, Alejandro Grullon, in 1972. Given that there were no Haitian private banks at the time, a preparatory committee was formed after, Alejandro Grullon offered his support making available to the committee the by-laws and relevant documents of Banco Popular. The by-laws were then modified to be in harmony with Haiti's laws. On June 2, 1973, a General Assembly
General assembly
General assembly may refer to an official meeting of the members of a trade union, church, association, or similar organization, or of their representatives, in particular:-Governing bodies of international organizations:*The United Nations General Assembly...
composed of 420 shareholders approved its formation, its first set of by-laws dated August 14, 1972 and elected its first Board of Directors
Board of directors
A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...
consisting of nine members and a Comptroller
Comptroller
A comptroller is a management level position responsible for supervising the quality of accounting and financial reporting of an organization.In British government, the Comptroller General or Comptroller and Auditor General is in most countries the external auditor of the budget execution of the...
. Finally on July 26, 1973, BUH started its operations with a personnel of 46 men and women at 102, Rue du Quai in downtown Port-au-Prince.http://www.buh.ht/Company_History.htm
In June 2006, BUH entered into an alliance with Antigua
Antigua
Antigua , also known as Waladli, is an island in the West Indies, in the Leeward Islands in the Caribbean region, the main island of the country of Antigua and Barbuda. Antigua means "ancient" in Spanish and was named by Christopher Columbus after an icon in Seville Cathedral, Santa Maria de la...
based ABI Bank Ltd. http://www.buh.ht/Press%20Release%20Pages%5CPress_Alliance.htm Today the bank has 12 branch offices
Branch (banking)
A branch, banking center or financial center is a retail location where a bank, credit union, or other financial institution offers a wide array of face-to-face and automated services to its customers....
and over 2000 shareholders, making it one of the most widely held companies in Haiti.