Category: CAB

Jamaican, Saint Lucian Bankers Win CAB Scholarships

Castries, Saint Lucia Wednesday, August 6th 2021: The Caribbean Association of Banks (CAB) Inc. has announced the two latest recipients of scholarships to the University of the West Indies (UWI). They are Mr. Darien Miller of Jamaica National (JN) Bank, and Ms. Rochelle Alphonse of Sagicor Finance (Saint Lucia). Mr. Miller already holds a BSc in Business Administration from the University College of the Caribbean, and he has worked with JN Bank for 13 years, including his current role as…

CAB Lauds New ECCB Appointments

Chairmanship of the Monetary Council of the Eastern Caribbean Central Bank (ECCB) has been transferred to the Honourable Premier and Council Member for Montserrat, Joseph Easton Farrell, during a Handing Over Ceremony on 23 July. Premier Farrell succeeds Outgoing Chairman, the Honourable Prime Minister and Council Member for Saint Christopher (Saint Kitts) and Nevis, Dr. Timothy Harris. The Monetary Council is the highest decision-making authority of the ECCB and comprises the eight Ministers for Finance of the ECCB member countries:…

CAB IS On The Move

The Caribbean Association of Banks (CAB) Inc., the recognised voice for the region’s banking and financial services industry, today announced that their secretariat will be moving to a new location. Effective 1 August 2021, the organisation will have its physical headquarters at Bella Rosa, Gros Islet, Saint Lucia. All other contact information remains unchanged. The move places CAB closer to the head offices for several of the local banks, which fall under its umbrella. The new CAB headquarters will also…

Caribbean Banks Donate $60,000 To Saint Vincent & The Grenadines

More than 10% of the population of Saint Vincent and the Grenadines was displaced by the repeated eruptions of the La Soufrière volcano in April 2021. The eyes of the world were on the Breadfruit Isle. Crops were destroyed, homes covered in pyroclastic flow, and evacuees forced to move into shelters, or made to seek refuge with friends and family in other parts of the country or overseas. Ashfall continued to affect neighbouring territories for several weeks after the initial…

ECCB, Bitt Win Global Fintech Awards

A Caribbean financial technology partnership has been given global recognition. In March 2021, the Eastern Caribbean Central Bank (ECCB) launched the world’s first retail central bank digital currency (CBDC) within a currency union. DCash, as the CBDC is known, was developed and deployed in collaboration with Bitt, a global fintech company based in Barbados. Both the ECCB and Bitt were recognised on 16 June 2021, in Central Banking’s fourth annual FinTech RegTech Global Awards. The awards highlight official institutions’ success…

PROVEN Proposes to Acquire Fidelity Bank (Cayman) Limited

PROVEN Investments Limited (PROVEN) is pleased to announce that it has entered into a share purchase agreement with Fidelity Bank & Trust International Limited, a company incorporated in the Commonwealth of The Bahamas, to acquire the entire issued share capital (the Shares) of Fidelity Bank (Cayman) Limited (FBC), conditional on receiving approval by the Cayman Islands Monetary Authority. FBC is a financial services company incorporated in the Cayman Islands and licensed under the Bank and Trust Companies Act as a Category…

ECCB Officially Announces Sale of RBC Assets

The Eastern Caribbean Central Bank (ECCB) advises that effective 1 April 2021, the Royal Bank of Canada’s (RBC) operations in Antigua and Barbuda, the Commonwealth of Dominica, Montserrat, Saint Christopher (St. Kitts) and Nevis, and Saint Lucia will cease, having been acquired by a consortium of national banks. The Consortium of banks comprises: Antigua Commercial Bank Limited (ACB), National Bank of Dominica Limited (NBD), Bank of Montserrat Limited (BOM), the Bank of Nevis Limited (BON), and 1st National Bank St.…

ACB Caribbean is Here – Simply Smarter Banking

St. John’s, Antigua, Friday March 19th, 2021: Today, customers can step into the new look Antigua Commercial Bank (ACB) now trading as ACB Caribbean. The 65 year old financial institution has unveiled its Brand Evolution to the people of Antigua & Barbuda. In spite of the modern and fresh new image, the organization has not lost sight of its long standing legacy of deeply rooted Corporate Responsibility. The financial institution has generously contributed $100,000 XCD to the ongoing Vaccination Programme…

Scotiabank Announces Agreement to Sell its Operations in Guyana

Georgetown, Guyana – March 3, 2021 – Scotiabank announced today that it has reached an agreement for the sale of its banking operations in Guyana to First Citizens Bank Limited (“First Citizens”). The agreement is subject to regulatory approval and customary closing conditions. This transaction supports Scotiabank’s strategic decision to focus on operations across its footprint where it can achieve greater scale and deliver the highest value for customers. Scotiabank’s current operations in Guyana encompass four branches and approximately 180 employees. Following…

CAB Bulletin Issue 5, January 2021

Welcome to Issue 5 of The CAB Bulletin! In our first edition for the new calendar year, we highlight some of our members’ recent successes (congratulations also to ECCU Bank of the Year Award recipients, Bank of Saint Lucia Limited and The National Commercial Bank of Anguilla Ltd). We also celebrate the completion of our first-ever virtual AGM. Also in this issue, new initiatives from the CAB secretariat, including new memoranda of understanding with our fellow Caribbean institutions, as well…