BASSETERRE, ST. KITTS (December 15, 2022) – The St. Kitts Nevis Anguilla National Bank Limited Annual General Meeting will be held on December 28, 2022, under the theme “People-Centered… Future -Focused”.
From inception the Bank has remained focused on improving the lives of citizens of the Federation and expanding opportunities for wealth creation.
For over half a century the Bank has recorded annual profits that have benefited investors with annual dividends that have been used to enhance their quality of life. It is this impressive performance that has propelled the Institution to becoming the premier financial institution within the Eastern Caribbean Currency Union (ECCU).
The post pandemic years have proven to be as unpredictable as the pandemic itself. There has been a convergence of many unforeseen factors such as supply chain disruptions, high inflation, and the Russia – Ukraine War that have all contributed to a prolonged slowdown in global stock markets.
Against the backdrop of recessionary fears and inflationary spikes, the markets, which have consistently performed well, all experienced dramatic unprecedented downturns. This resulted in a net loss position for the Bank.
However, despite the aforementioned circumstances, the Bank’s investment portfolio outperformed the NASDAQ and S & P indices.
When asked about the Bank’s performance over the financial period, the newly appointed Chairperson of the Board, Mrs. Carol Boddie, said, “while the past financial year ended June 30th, 2022, has presented unprecedented challenges, our Bank continues to be stable, strong and well poised to continue to serve our customers and shareholders, offering even greater value in the years ahead.”
The Bank is responding to market shifts by rebalancing its investment portfolio with higher concentrations in fixed income securities with reduced risk, taking advantage of the fact that interest rates have increased.
Head Office: P.O. Box 343, Central Street, Basseterre, St. Kitts, West Indies Tel: (869) 465-2204 Fax: (869) 465-1050 www.sknanb.com
Chairperson Boddie added, “we recognize the need to focus our collective energies on core banking activities while we exercise sound judgment and apply our professional expertise to identify areas of growing concern. We have identified new opportunities and will work to enhance an already impressive deposit base and loan portfolio to sustain overall growth and stability. “
The Board of Directors is committed to providing sound governance and oversight to steer the organization to a sustainable level of profitability.
ABOUT ST. KITTS-NEVIS-ANGUILLA NATIONAL BANK LIMITED
St. Kitts-Nevis-Anguilla National Bank Limited is one of the premier financial institutions in the Eastern Caribbean Currency Union and has been serving the Federation of St. Kitts & Nevis for over 50 years. National Bank is the leading financial institution in the sub-region with over $3 billion in assets and more than $2 billion in deposits. It also has a loan portfolio of almost $1 billion.
National Bank is owned by over five thousand (5,000) shareholders, with the Government of St. Kitts and Nevis being the largest shareholder. The Bank is listed on the Eastern Caribbean Securities Exchange (ECSE).
National Bank remains resolute in its mission ”… to be an efficient, profitable and growthoriented financial institution, promoting social and economic development in the national and regional community by providing high quality financial services and products at competitive prices”.
St. Kitts-Nevis-Anguilla National Bank Limited