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Caribbean Union Bank
Antigua and Barbuda’s financial sector is thriving. Local majority-owned banks command 75 percent ownership of the banking sector and have achieved historic profitability. That’s the word from Prime Minister Gaston Browne who delivered his New Year’s address to the nation via State Media last night.
As this growth continues, retained earnings will swell, he says, “making our banks stronger, with higher dividend yields for shareholders”
But according to the finance minister, this transformation was no accident.
“It was the result of my administration’s courageous and decisive action, requiring Canadian-owned banks to sell their operations exclusively to local institutions. Today, the Antigua Commercial Bank (ACB), Eastern Caribbean Amalgamated Bank (ECAB), and the state-owned Caribbean Union Bank (CUB) stand as pillars of a thriving financial sector,” he added
Meanwhile, the government has urged these institutions to share the success enabled by the state by offering affordable loans to individuals, businesses, government, and quasi-government entities that are ready to seize the economic opportunities of 2025 and beyond.
“Whereas, we expect prudence in their lending, we also expect our banks to become more responsive to the developmental funding needs of our people, bringing an end to the ultra-conservative, suboptimal, consumer-driven lending culture, that had taken root in prior years,” PM Browne added
He said this approach aligns with our broader vision of empowering our people with economic growth opportunities and a supporting financing infrastructure, thereby creating an environment where our people flourish.
“To whom much is given much is required. Therefore, we expect to see increased levels of social corporate responsibility from our banks, and other profitable businesses, in the form of sponsorship in sports and the creative arts, as well as, donations for worthy causes,” the prime minister added
Oh, okay. I thought you had reporters, actual people that you PAY to write stories. NOT A.I! I thought you used your key boards and that they are not taking dust! So why the last 3 stories on this website written by a.i.? You yourself will expose your hypocrisy, no one has to do it for you.
Beating his chest as usual. The country running good?? How come we not seeing it or feeling it??
You may delete the comment but I am sure you get the message. Late last year you seemed very opposed to using A.I. You boasted that you had PIAD reporters, you boasted that it was real people writing your stories NOT A.I. You said it was your competitor using A.I and said that their keyboards were dusty for lack of usage. Now, on this 1st day of January 2025, every single news you have written is by a.i? The same ghost that you spoke about.