The Cabinet invited an investor to present his plans for the purchase of Government’s shares in the Caribbean Union Bank (CUB). The investor is of the view that he can attract more capital to CUB to modernize its operation while transforming the bank into a high-performing Caribbean bank. The Investor believes that it will become primarily a technology bank with several correspondent banks in the capitals of several developed countries. The transfer of ownership will require the approval of the Eastern Caribbean Central Bank.
Advertise with the mоѕt vіѕіtеd nеwѕ ѕіtе іn Antigua!
We offer fully customizable and flexible digital marketing packages.
Contact us at [email protected]
I hope this is not some phony investor who will destroy the gains that CUB has made over the last few years with its young and energetic management. Being primarily a technology bank means the investor will want everything online with very little face-to-face engagement with customers. This is not what local Antiguans want. Government should allow the present management to continue to grow the bank rather than have some invesotr come in and take over.
Native Antiguan Investor ?
Or has the Hon. Gaston been “blowing smoke” over the last few years about keeping things local in the banking sector ?
How many faces has Janus ?
Who is the investor and what is their background?
Technology bank? You mean mostly dealing in wire transfers from strange locaitons?
Is Ccabinet aware that the Bank is locked into an “iron-clad” agreement with an investor, preventing it from talking to any other investor while its application to buy into the bank is with the ECCB?
Could a lawsuit for breach of contract be forthcoming?