Category: CAB

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…

CAB & CXC Sign Momentous MOU

Castries, Saint Lucia, Friday, December 18th 2020: Two of the region’s most venerable organisations have taken steps to begin working more closely with one another. The Caribbean Association of Banks (CAB) Inc. and the Caribbean Examinations Council® (CXC®) recently signed a Memorandum of Understanding (MOU) for the establishment of mutual cooperation for the advancement of the Caribbean’s human resource competitiveness, and engagement in the areas of education and human capital development. The agreement was concluded on November 11, 2020, between…

Banker Magazine Names Caribbean Banks Of The Year

Castries, Saint Lucia, Tuesday, December 8th 2020: The calendar year 2020 has had more than its fair share of challenges, not least a pandemic that has had a massive adverse knock-on effect on the global economy. Against that backdrop, Caribbean financial institutions have been soldiering on, and even excelling to the extent that they have been able to enjoy global recognition. Two of the member organisations of the Caribbean Association of Banks (CAB) Inc. have been named among the most…

Bank of Saint Lucia appoints Rolf Phillips as Managing Director

Bank of Saint Lucia (BOSL) announces the appointment of Mr. Rolf K. Phillips as Managing Director (MD) effective November 1st 2020. BOSL’s new Managing Director Mr. Rolf Phillips Mr. Phillips, an OECS national, brings over four decades of sound experience in banking, finance and management. He has a commendable history of leadership and has served in many positions across the Eastern Caribbean including, Branch Manager, International Banking Director, Senior Manager of International Banking, General Manager Home Finance, Managing Director Retail…

PRESS RELEASE: Caribbean Banks Conclude Historic AGM

Castries, Saint Lucia, Tuesday, November 20th 2020: The Caribbean Association of Banks (CAB) Inc. held its 47th Annual General Meeting on Wednesday, November 18th 2020. For the first time since the pan-regional body was founded in 1974, the annual gathering was entirely virtual, including the Members Forum, presentation of the Chairperson’s Report, Audited Financial Statement, voting for the new Board of Directors, and amendments to the Association’s by-laws. The unprecedented event was attended by 50 individuals representing 41 CAB member…

CARICOM decries “unilateral, arbitrary” EU blacklisting

The Caribbean Community (CARICOM) deplores the ongoing unilateral, arbitrary and non-transparent blacklisting strategy employed by the European Union (EU) against CARICOM Member States. The most recent inclusion of CARICOM States to the blacklist of alleged non-cooperative tax jurisdictions and jurisdictions identified as being deficient in the area of Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT), underscores the EU’s unwillingness to take into account the substantial progress made by CARICOM Member States at compliance with global standards. Moreover, the unquestioned use…