A private bill to bring a new bank to Bermuda is set to go before the House of Assembly in the autumn.

And the principals of the First International Citizens' Bank are bullish about their prospects of being open for business by the second half of next year.

Canadian-based consultant to the group, Thomas Nisbett, said: "We'll probably see it done in the autumn soon after the House sits again.'' And he was buoyant about the chances of the bill being approved -- giving Bermuda another potential banking avenue for the first time since Sir John Swan was awarded a charter in the 1980s.

Mr. Nisbett said: "We have put together a piece of legislation which we have heard through the grapevine is a very good piece of work which gives the bank a very good foundation on which to build.'' He added the bank had already identified areas of new business -- including post-apartheid South Africa.

He said: "We have had people with specific deals calling from the US and Canada.

"They want to do business in Bermuda, but they are not sure about the two major banks because they see them as a little bit conservative.'' But Mr. Nesbitt said the other banks on the Island should welcome a new member of the banking club because new business brought to the Island would mean more work for the other banks.

He said: "There would be a spin-off for the other banks because once people are comfortable they will start using them as well.'' Mr. Nisbett was speaking after the first of a series of forums to canvass opinions and support from the public.

More than 50 people attended the meeting, held in St. James' Church hall in Somerset last month.

Archdeacon Arnold Hollis -- the parish priest at St. James' -- told the meeting he supported the bank bid.

He said: "It's a very noble venture -- I don't think we can do anything else but applaud the young men for actually conceiving something which is of vital importance to these Islands.'' Archdeacon Hollis said he had spent a lot of time in queues in banks and another option would act as a catalyst for speedier service everywhere.

And he said: "We are seeing a new venture for Bermudians by Bermudians and benefiting from an international network -- I hope it comes to fruition and that it will receive the support of the people of Bermuda.'' Mr. Andre Heyliger said the new bank would complement existing financial instutions.

He added that he would also offer the use of cash machines to the other banks -- already common practice in Britain, the US and Europe.

Mr. Heyliger said: "It's good business sense -- they probably won't accept that offer because of some concerns about their customer base, but we don't see a problem sharing that kind of information.'' The principals in the venture said the new bank would encourage small businesses and bring in sophisticated new procedures, courtesy of an international partner, who has yet to be identified.

Anyone interested in submitting ideas for the bank's development should contact First International Citizen's Bank Ltd, Planning and Development Team, c/o Top Resources Ltd, PO Box DV398, Devonshire, DV06, or by calling Mr.

Heyliger at 232-1470.