BARBADOS NATIONAL BANK (BNB) has been awarded the prestigious designation Bank Of The Year 2006 for Barbados by the Banker Magazine.

The announcement was made yesterday by managing director and chief executive officer of BNB, Robert Le Hunte, at the bank's Broad Street, Bridgetown offices.

The 2006 award is BNB's second consecutive and the third in the last four years from the Banker Magazine which is published by the Financial Times of London.

Le Hunte said the selection for this award was a "reflection of the BNB's continued commitment to and success in delivering value to all stakeholders, customers, employees, shareholders and the community".

The news came one month after the former state-owned bank announced it had doubled profits and become the largest lender on the island with over $2 billion in assets. Moreover, at the end of its 2006 financial year, BNB had contributed nearly one-fifth of the overall group profits of the parent bank Republic Bank, based in Trinidad and Tobago.

Yesterday's ceremony also introduced the newest set of apprentices in the BNB Youth Link Programme. This programme involves school-leavers who are exposed to nine months of personal development training and all areas of the bank's operations. (GE)