1958 Bank of London and South America, an associate of Lloyds Bank, and Bank of Montreal established Bank of London and Montreal as a 50-50 JV with headquarters in Nassau in the Bahamas. BOLSA contributed its branches in the West Indies and northern South America, and Bank of Montreal contributed capital.
1968 The
Bank of England allowed Mellon to increase its shareholding to 25%.
1970 BOLSA fully acquired BOLAM, which had 28 branches throughout Latin America and the Caribbean. In the divorce, Bolsa took back its branches. Bank of Montreal got the Bahamian and Jamaican branches, and sold the branch and operations in
Trinidad and Tobago to the government there, which used the acquisition as the foundation for a new bank, National Commercial Bank. This is now
First Citizens Bank. On April 17, 1970 Bank of Montreal incorporated the branches it took over as Bank of Montreal (Bahamas & Caribbean), and in 1983 changed the name Bank of Montreal Bahamas Limited.
1971 The Government of Jamaica purchased
Bank of Montreal's Jamaican operations, renaming them Bank of Surrey. Bank of Surrey closed five months later.
In 1988 Bank of Montreal wanted to close the Bahamian operations so the Government of the Bahamas stepped in to keep them going. The Government of The Bahamas created a 51-49 joint venture with
Euro Canadian Bank, which took over the new bank and renamed it Bank of The Bahamas. This is now
Bank of Bahamas International.
1971 Lloyds combined Lloyds Bank Europe, BOLSA and BOLAM as subsidiaries of a new bank, Lloyds and Bolsa International Bank, of which Lloyds owned 55% and Mellon Bank 13%. Within two years, Lloyds bought out Mellon Bank and the other minority shareholders. It then renamed the bank Lloyds Bank International (LBI).
1975 LBI closed the Tokyo branch that BOLAM had established in 1971.