Prime Minister Gaston Browne recently addressed the performance and future prospects of the Eastern Caribbean Amalgamated Bank (ECAB), emphasizing the significance of recent statements by the central bank.
He noted the serious nature of the issue highlighted by the central bank’s unusually strong language, which is typically very diplomatic.
Browne expressed relief that Antiguans and Barbudans are not among those suffering financial issues, attributing this to the decision to maintain local control.
He acknowledged the initial challenges faced during the consolidation process but noted that ECAB’s customer service has improved. He urged the bank to continue delivering good service to the people of Antigua and Barbuda and emphasized the importance of not being contemptuous of their customers.
Reflecting on ECAB’s financial performance, Browne stated his expectation for significant profits in 2023 and beyond. He referenced the 2022 financial accounts and expressed optimism about the future results, highlighting the importance of these profits for government revenue through taxes.
He stressed that any underperformance would lead to serious discussions with the current directors and management.
Browne also emphasized the government’s substantial investment in ECAB, owning 25% of the shares and holding over $50 million in preference shares.
He encouraged the bank to be proactive in seeking new business opportunities rather than being complacent.
The Prime Minister concluded by reiterating the government’s expectations for strong returns from ECAB and the importance of proactive efforts to secure business.
He made it clear that the government’s scrutiny of the bank’s performance would be stringent, with consequences for any underperformance.
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This I don’t want, a political bank. We the populace suffer, because the bank can be directed against you if you were to be getting finance for some project the politicians wish not to happen, the bank should emulate other private banks in achieving better service to it’s customer for growth, but for politicians that never run anything but an apathetical and impoverished mass of people should not direct the bank on professionalism, and I suspect it’s the interference why we having problems with ecab. As a matter of fact there is no banking opportunity in Antigua, it’s like a monopoly, even these politicians go elsewhere and bank on global bank of commerce for that ambassador dude that can’t pay customers back their deposits.
ECAB is not a Government owned Bank.For if they were,I would not have one damn penny vested there.
The headline should be pointed to the Cabinet Members of Parliament. Those lazy fat arses getting paid monthly and not performing.A wa become a Picksy? The Missing Minister of Roads.
Such utter contemptible audacity is begrudging of a fools gumption, eh! To be chiding a public/ private partnership enterprise management, for an envisioned expectations; based on performance, merely for the projection of anticipated GDP index gains: is to obfuscate the performance reality of the ignoble inferences espoused without gains for the citizenry: by our most asinine “Alpha Negro Leader”. If the tangible effects of GDP growth is to be reflected on the downtrend masses; such as for them to touch and feel the effect – then the projected manifestation proffered, is but a pandering of political gamesmanship enticing to the unfortunate clingers; dangling like sleep-walking stilted sentinels drunken from the effect of the fervent mantra of sound-bites driven by a partisan Puppeteer & Puppets for pittance afforded for consumption of the Alpha Negro’s trickling crumbs; as recompense for steadfast loyalty to their many faults; as is the lofty proposal of a thousand dollars at age retirement- when a can of sardines is at five-dollars: and all consumables are stage for taxing, and, dependent on seasonal tourism standards; that does not fluctuate during off-peak season. Thus creating a cliffhanger of an artificial financial mat for the masses; dependent of the vaunted tourism revenue stream becoming a wishful pipe dream; that morph into a nightmare of disenfranchised marginalization: after nine years of pablum chat and grandstanding verbiage. T’was just for one underdog, and his cronies, to be creaming from the top.
Dump the 25% the govt “owns”
ECAB better off without any govt bullshit. Why govt don’t put their funds in Global Bank or CUB? Oh right cuz they have no money and why? Go ask Gaston himself.
Gaston supposed to be held at the same high standard, otherwise his rass would have been gone long time but you know it goes in Antigua.
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