The Bank of the Cook Islands Ltd (BCI) is a wholly owned subsidiary of the Bank of the Cook Islands Holding Corporation (BCIHC) which was established on 1 December 2003 by the Bank of the Cook Islands Act 2003 to takeover the assets and liabilities of the former Cook Islands Development Bank and the Cook Islands Savings Bank. On 1 July 2004 the assets and liabilities of the BCIHC were vested to the Bank of the Cook Islands limited except for the non-performing loans which were vested to CIDB Former Loans Limited (CIDBFLL). On 30 June 2007 the remaining non-performing loans of CIDBFLL were vested back to BCI following its dissolution.

BCI is legally licensed to carry on the business of banking and to engage in activities prescribed by law as constituting customary banking practice.

BCI is committed to delivering high quality products and services to meet the needs of all Cook Islanders and operates banking services in Rarotonga and a network of 10 branches located throughout the Outer Islands:
( Aitutaki, Atiu, Mangaia, Mauke, Manihiki (2), Mitiaro, Penryhn, Pukapuka and Rakahanga).

The Bank of the Cook Islands currently employs 62 staff, 42 in Rarotonga and 20 throughout the Cook Islands network.

Five positions are of managerial status and include Managing Director, Manager Credit, Manager Operations, Manager Human Resource - Training & Development, Manager Information Technology & Manager Information Systems.