ACB Caribbean Group and is set to announce outstanding revenue figures, attributed to robust economic growth in Antigua and Barbuda.
ACB achieved a 60% revenue increase in 2023, culminating in a consolidated net profit of $41.2 million, with the Parent Company reporting its highest-ever net profit of $35.9 million.
Subsidiaries ACB Mortgage & Trust Company Limited and ACB Grenada Bank Ltd. also posted over 30% profit increases. Strategic investment shifts and a global economic rebound drove this success, recovering prior portfolio losses.
The Board will propose a record $1.00 per share dividend, the highest in the Bank’s history, during the Annual General Meeting later this month. Economic growth in Antigua (3.9%) and Grenada (3.6%), coupled with global interest rate hikes, further boosted the Group’s performance.
Despite challenges like geopolitical instability and inflation, the Group remains focused on solvency and sustainability through financial stability, capital adequacy, and liquidity.
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#NextLevel
Thank God GASTON BROWNE stood up to the bullies of Scotiabank and let them know that LOCAL BANKS SHOULD HAVE 1ST PREFERENCE to acquire a foreign bank.
(poor Lovell would’ve been hoodwinked by them, just like how Sandals did him).
Big up World Boss!