{"id":220560,"date":"2025-01-01T08:23:54","date_gmt":"2025-01-01T12:23:54","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=220560"},"modified":"2025-01-01T08:23:54","modified_gmt":"2025-01-01T12:23:54","slug":"local-banks-dominate-financial-sector-with-75-ownership","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/local-banks-dominate-financial-sector-with-75-ownership\/","title":{"rendered":"Local Banks Dominate Financial Sector with 75% Ownership"},"content":{"rendered":"
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Local Banks Dominate Financial Sector with 75% Ownership<\/h3>\n\n\n\n

Antigua and Barbuda\u2019s banking sector reached a significant milestone in 2024, with locally majority-owned institutions commanding 75% of the market. Prime Minister Gaston Browne, in his New Year\u2019s address, described the sector\u2019s performance as historic.<\/p>

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\u201cOur local banks achieved profitability at levels never seen before,\u201d Browne stated, crediting decisive actions taken by his administration to ensure greater local control of financial institutions.<\/p>\n\n\n\n

The Antigua Commercial Bank (ACB), Eastern Caribbean Amalgamated Bank (ECAB), and the state-owned Caribbean Union Bank (CUB) now serve as pillars of the economy. According to Browne, these banks are positioned to generate higher dividend yields for shareholders as retained earnings grow.<\/p>

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\u201cThis transformation was no accident,\u201d he said. \u201cIt was the result of courageous and decisive actions that required Canadian-owned banks to sell their domestic operations exclusively to local institutions.\u201d<\/p>

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Browne urged the banks to continue their growth trajectory by offering affordable loans to individuals, businesses, and government entities. He called for an end to what he described as an ultra-conservative lending culture.<\/p>\n\n\n\n

\u201cTo whom much is given, much is required,\u201d Browne said, encouraging financial institutions to increase their corporate social responsibility, including support for sports, creative arts, and charitable initiatives.<\/p>

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The Prime Minister expressed confidence that the strengthened banking sector would further contribute to the nation\u2019s economic growth and development in 2025 and beyond.<\/p>\n

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Local Banks Dominate Financial Sector with 75% Ownership Antigua and Barbuda\u2019s banking sector reached a significant milestone in 2024, with locally majority-owned institutions commanding 75% of the market. Prime Minister Gaston Browne, in his New Year\u2019s address, described the sector\u2019s performance as historic. \u201cOur local banks achieved profitability at levels never seen before,\u201d Browne stated, […]<\/p>\n","protected":false},"author":3,"featured_media":6867,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-220560","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nLocal Banks Dominate Financial Sector with 75% Ownership - Antigua News Room<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/antiguanewsroom.com\/local-banks-dominate-financial-sector-with-75-ownership\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Local Banks Dominate Financial Sector with 75% Ownership\" \/>\n<meta property=\"og:description\" content=\"Local Banks Dominate Financial Sector with 75% Ownership Antigua and Barbuda\u2019s banking sector reached a significant milestone in 2024, with locally majority-owned institutions commanding 75% of the market. Prime Minister Gaston Browne, in his New Year\u2019s address, described the sector\u2019s performance as historic. \u201cOur local banks achieved profitability at levels never seen before,\u201d Browne stated, […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/antiguanewsroom.com\/local-banks-dominate-financial-sector-with-75-ownership\/\" \/>\n<meta property=\"og:site_name\" content=\"Antigua News Room\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/antiguanewsroom\" \/>\n<meta property=\"article:published_time\" content=\"2025-01-01T12:23:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mlavawteztbj.i.optimole.com\/w:auto\/h:auto\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2017\/09\/ecab-bank.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"530\" \/>\n\t<meta property=\"og:image:height\" content=\"306\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Editor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@AntiguaNewsRoom\" \/>\n<meta name=\"twitter:site\" content=\"@AntiguaNewsRoom\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Editor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/antiguanewsroom.com\/local-banks-dominate-financial-sector-with-75-ownership\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/antiguanewsroom.com\/local-banks-dominate-financial-sector-with-75-ownership\/\"},\"author\":{\"name\":\"Editor\",\"@id\":\"https:\/\/antiguanewsroom.com\/#\/schema\/person\/36cac05ef6398fe56ae3e6317f8535c5\"},\"headline\":\"Local Banks Dominate Financial Sector with 75% Ownership\",\"datePublished\":\"2025-01-01T12:23:54+00:00\",\"dateModified\":\"2025-01-01T12:23:54+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/antiguanewsroom.com\/local-banks-dominate-financial-sector-with-75-ownership\/\"},\"wordCount\":233,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/antiguanewsroom.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/antiguanewsroom.com\/local-banks-dominate-financial-sector-with-75-ownership\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/mlavawteztbj.i.optimole.com\/w:530\/h:306\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2017\/09\/ecab-bank.jpg\",\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/antiguanewsroom.com\/local-banks-dominate-financial-sector-with-75-ownership\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/antiguanewsroom.com\/local-banks-dominate-financial-sector-with-75-ownership\/\",\"url\":\"https:\/\/antiguanewsroom.com\/local-banks-dominate-financial-sector-with-75-ownership\/\",\"name\":\"Local Banks Dominate Financial Sector with 75% Ownership - 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