FirstCaribbean International Jamaica has now moved to Portmore, St Catherine.

While there was a launch of the branch in Portmore on Sunday, the institution will not be open for business until November 9.

Mayor Keith Hinds said that the move by FirstCaribbean was a welcome one.

"First, I must say that for those of us who want to be part of the formal banking system, it is a welcome gesture, and Portmore is prime for investment," said Hinds.

The mayor was speaking during Sunday's ceremonial opening.

Audley Shaw, minister of finance and the public service, who was the guest speaker, lauded the bank for opening its 13th branch in Portmore.

Good service

Shaw said that while First-Caribbean was known for providing good service, it needed to do more in Portmore.

According to Shaw, the residents of Portmore needed help, and FirstCaribbean would only be a good addition if it provided that help.

The finance minister spoke about Jamaica's financial problems, saying that the solutions lay within the country and among its individuals.

"We need more production in the country and the bank will have to play an important role by giving attractive interest rates, which would have persons doing more business with the banks," said Shaw.

"This, I hope, will be taken into consideration by FirstCaribbean," he added, pointing out that an approximate loss of $1.3 billion in revenue last year meant it was "important to all that we produce".

The bank will have nine staff members. It is located next to the police station in Greater Portmore.