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Trusted Novus Bank donates £200,000 to GHA Covid-19 fund

Stephen Ignacio

Trusted Novus Bank has donated £200,000 to the GHA Covid-19 fund, signalling its long-term commitment to Gibraltar just days after the new bank was formally launched.

Trusted Novus Bank, or TNBank, is the new name of the Main Street bank that was sold by Denmark’s Jyske Bank last year to Vietnamese businessman Tuan Tran for an undisclosed sum.

The sale was cleared by Gibraltar’s regulator last week and the bank’s new owner was keen to signal its commitment to supporting both its clients and the wider Gibraltar economy at this critical time.

TNBank, which retained Jyske’s staff and client portfolio, said it had injected additional liquidity to support businesses and individuals in the form of new credit facilities and repayment holidays on existing loans.

But it said too that the recovery of the Gibraltar economy depended on overcoming the physical threat of Covid-19, hence the donation to the GHA fund.

The GHA is currently on the front line of the battle against the virus and this will inevitably require large investment in human resources as well as in Personal Protective Equipment (PPE), ventilators and other vital equipment.

“Our new owner is keen to stress the important role that TNBank will continue to play in the local community and has therefore decided that the bank should donate £200,000 towards the GHA Covid-19 fund,” TNBank said in a statement.

“This will help our healthcare workers to continue their good work in helping those afflicted and supporting the Gibraltar economy back on its feet.”

Christian Bjørløw, the bank’s chief executive, said TNBank would play its parts in helping to protect its clients, colleagues and the wider community.

“We are in the collective struggle of our generation, but together we will overcome the challenge,” he said.

“This donation will not only help save lives, but hopefully contribute to the overall economic recovery for Gibraltar.”

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