Consolidated Finance was established as a finance company whose purpose was to finance vehicles sold by its sister company, Charles McEnearney & Co. Ltd. Starting with an initial capital injection of $300,000, its operations grew through investments made by family and friends of the Directors and Shareholders of McEnearney Alstons Barbados Limited.
The Company became a regulated entity under the Financial Institutions Act of Barbados. Its financing extended beyond the group dealership, and began attracting funding from the public via Term Deposit placements.
As the pioneer and leader of vehicle financing and leasing in Barbados, Consolidated Finance reached a milestone by declaring Assets of over $225M and a capital base of $32M.
The company started to diversify its business lines and was relicensed by the Central Bank of Barbados as a Finance Company & Merchant Bank, and was also authorised to become a licensed Foreign Exchange Dealer.
Ansa Merchant Bank Limited acquired Consolidated Finance, bringing it directly under the Financial Services umbrella of the Ansa McAl Group.
Consolidated Finance Limited rebranded in line with its parent company to become ANSA Merchant Bank (Barbados) Limited.
Its range of financial services expanded steadily over the years to include Unsecured Personal Loans, Land loans and Residential Mortgages.
ANSA Merchant Bank (Barbados) now caters to Corporate & Commercial customers, providing competitive rates and terms on commercial mortgages and other working capital and capital expenditure facilities.
The Treasury Division also provides personalized service in the buying and selling of foreign exchange through its Foreign Exchange Desk, and offers investment opportunities not only in local currency, but in the major international currencies.
ANSA Merchant Bank (Barbados) Limited remains the leader in vehicle financing and leasing on the Island. As the business enters its fourth decade as a strong and diversified Financial Institution, it boasts a capital base of $54 Million, the highest among the financial institutions of its kind in Barbados.