Press Release 20 of 2025 - Orderly Wind-Down Of Bank Of Asia (BVI) Limited Continues Under Court Supervision

Press Release 20 of 2025

FOR IMMEDIATE RELEASE

ORDERLY WIND-DOWN OF BANK OF ASIA (BVI) LIMITED CONTINUES UNDER COURT SUPERVISION

The Virgin Islands Deposit Insurance Corporation (VIDIC) and the British Virgin Islands Financial Services Commission (the Commission) continue to monitor the orderly wind-down of Bank of Asia (BVI) Limited (the Bank).

Joint Liquidators were appointed on 22 October 2025 and are now authorised to commence disbursement of insured deposits to eligible depositors. This process is being conducted in accordance with the Deposit Insurance framework and the Insolvency framework of the Virgin Islands.

This development marks an important milestone in resolving the Bank’s operations and reaffirms the commitment of regulatory authorities in the Territory to protecting the interests of depositors and maintaining confidence in the Virgin Islands’ financial system.

For background information on the wind-down operations, please refer to the press release published by the Commission here and by the VIDIC here.

MEDIA CONTACTS

Natalia Chinnery
Head of Operations & Communications
Virgin Islands Deposit Insurance Corporation
[email protected]

Rhonda Hodge-Smith
Deputy Director, External Relations
BVI Financial Services Commission
[email protected]