Basseterre, St. Kitts, December 01, 2021 (SKNIS): The St. Kitts-Nevis-Anguilla National Bank has recorded a historic profit for the financial year ending June 30, 2021, Prime Minister and Minister of Finance, Dr. the Honourable Timothy Harris announced during the December 01 Sitting of the Federal Parliament.
“The bank will declare one of the largest profits in its history… and in that record, it is proposed that they will make a historic dividend payment to shareholders of about 20 cents per share,” said Prime Minister Harris. The St. Kitts-Nevis-Anguilla National Bank Group of Companies will host its Annual General Meeting on December 16, 2021, at the Marriott Ballroom.
Dr. Harris said that shareholders will have additional funds to utilize during the Christmas season.
“Such a significant development Mr. Speaker will assist the 5, 642 shareholders in having a more enjoyable Christmas and it will provide them some cash in advance of the popular Reduced VAT Rate Days,” said the finance minister. “So, the bank will be paying out its dividend on the 16thand Reduced VAT Rate Days starts on the 16th. So, people then will have a bit more to have a jolly good Christmas.”
Prime Minister Harris used the occasion to commend and congratulate the Chairman, Alexis Nisbett, members of the Board, staff, as well as customers “for allowing the St. Kitts-Nevis-Anguilla National Bank Group of Companies to excel again even in a year that has been globally tumultuous and difficult.”
“Congratulations again are in order for all those who are involved in making this historic achievement,” said Dr. Harris. “I should say that before June 2021, the largest profit on record for the bank was declared way back in about 2008 when the bank made just over 113 million dollars. It was an extraordinary item and it has not been repeated. And we come from 2008 to 2021 and the bank has done extremely well surpassing that record.”
The St. Kitts-Nevis-Anguilla National Bank Limited (National) was incorporated in 1971 under the Companies Act Chapter 335 and was re-registered under the new Companies Act No. 22 of 1996 in 1999. The Bank and its branches are licensed by the Eastern Caribbean Central Bank, under the applicable Banking Act 2015, to carry on banking business in the Eastern Caribbean Currency Union.