Government Seeks To Gain Controlling Interest In ECAB

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The Government of Antigua and Barbuda seeks to gain controlling interest in Eastern Caribbean Amalgamated Bank by using the pending acquisition of Scotiabank Antigua by the Eastern Caribbean Amalgamated Bank (ECAB) as leverage.

According to Minister Melford Nicholas, the Cabinet has asked the other shareholders in ECAB to approve the conversion of its preference shares to [ordinary] shares such that the government’s position in ECAB would be enhanced as well.

This was necessary because the government would need the consent of the other shareholders in order for their preference shares to be converted to ordinary shares.

The current shareholders of ECAB are the Antigua Commercial Bank, Eastern Caribbean Financial Holding Company, National Bank of Dominica, St Kitts Nevis Anguilla National Bank, Bank of St Vincent and the Grenadines, and the Government of Antigua and Barbuda.

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15 COMMENTS

  1. No way should this government get any controlling interest they will be busy a using the financial position of the bank.

  2. I hope D.GISEL Isaac is reading about these GREAT things that are happening in Antigua. This Island is on the move in BIG BIG way.We have the best Prime Minister in the World Hon. Gaston Browne . Antigua and Barbuda LARGEST growing GDP in the Caribbean.

  3. on the move December 14, 2019 at 5:47 am

    Your comment is awaiting moderation
    TENMAN

    Thank you so much for listing the wonder things happening in our beautiful Island . Let Us start a campaign to DENOUNCE D.GISEL ISSAC, SERPENT , KNIGHT , GLADYS POTTER , CLEON ATHILL with all Their RHETORIC. . These People have nothing good to say about Antigua and Barbuda. The fastest GROWING Economy in the Caribbean. Let Us start to write to DENOUNCE Their RHETORIC..

    Reply

  4. Be honest, do you really care? The signs are there for those who arn’t closing their eyes:
    1. Best Medical Facility in the OECS (MSJ)
    2. Among the fastest growing economies in not only just the region, also the World
    3. Tourism numbers breaking records
    4. A&B has been on no blacklist unlike many of our regional counterparts
    5. University of A&B
    6. Best regulated CIP program in the OECS region (most transparent program)
    7. Our HDI scores continue to increase during this administration tenure
    8. Nation at the forefront for reparatory justice
    9. Leading in the region when it comes to reducing the use of plastics.
    10. 33 ranking in the rule of law report (2019), which places us ahead of your USA (50)

    Yet you prefer to find some small issue to blow out of proportion to justify your need for the sky to be falling. Boss we live in a blessed though imperfect country

  5. on the move December 14, 2019 at 3:37 pm

    What is going on in Antigua when SERPENT , SPENCE , KEM et AL talking about Corn Beef.Also telling about Government workers have not been paid.Thank God Some People called in and tell Them that They were paid.This is testament to the LIES that Observer are telling People.Spence you should know better.I went to GRAMMAR SCHOOL with You and surprise at your UTTERANCES .You Guys are doing a GREAT DIS SERVICE to ANTIGUANS.Shame on OBSERVER RADIO.SHAME SHAME.

    Reply

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  6. Blah Blah Blah Blah..That’s all I see. No new material, just the same nonsense different day

  7. WAN BIG DUTTY STUPESSSSSS

    YOU FIT YOUR NAME. YOU ARE A BLUE KOOLAID DRINKER WHO CANNOT SEE WHEN GREAT THINGS ARE HAPPENING. I WOULD CONTINUE THESE POSTINGS UNTIL IT SINK IN YOUR THICK SKULL. ANTIGUA ON THE MOVE TO BIGGER AND BETTER THINGS . Please read my new postings.Your IQ will develop.

  8. LOL !

    Wait..Was I supposed to feel a way? You are so corny its so funny! Lord thanks for the laugh!ON the move to being a cry cry baby..good for nothing! Coo Chi COO..aww what a cute liddle baby! Should I change your diapers? I think I see Something BLUE in there!

    Frankly I think you are wan UNDERCOVER BLUE KOOL AID DRINKER trying to stir things up. You have no compunction about going on peoples post (Even those that were hurt) to say the same stuff over and over when no one was even talking anything political. Is like you live for mischief. SMH

    LOL that’s cute too…Your IQ needs more developing then mine ever could. If is a turkey you looking for for Christmas please go ask..our government so good..they will give you. You don’t have to resort to these tactics.

    GET A LIFE!

  9. Silly Wabbit..Trixs are fer Kids!

    P.S you also cant count! SMH Instead of this nonsense ..pick up a book and raise your IQ

  10. JUST SAW YOUR POST . WE ARE COMRADES. I WAS TOLD THAT YOU ARE ABLP SUPPORTER. SO I APOLOGIZE FOR PREVIOUS POSTINGS . LET US SUPPORT EACH OTHER WITH OUR POSTINGS. LET US CONTINUE TO SUPPORT THE ABLP.BLESSINGS

  11. @On the move, yes we are comrades. Its okay, I apologize too ..Yes lets support each other.. Blessings to you and yours and have a good holiday season!

    Cheers

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