Customers of the Eastern Caribbean Amalgamated Bank (ECAB) still face numerous issues two years after the bank took over Scotiabank’s Antigua and Barbuda operations.
Despite Finance Minister and Prime Minister Gaston Browne’s criticism of the bank’s slow response, the leadership has yet to address the ongoing problems satisfactorily.
ECAB’s customers have expressed dissatisfaction with the integration problems the bank has been experiencing for almost two years.
They are frustrated with transaction delays, out-of-service ATMs, poor customer service, and confusing international transfer processes. Many have voiced their concerns both on the streets and online.
Even PM Browne, who was once a staunch supporter of the bank, has turned into a critic due to the persistent poor service.
He has called for urgent changes and accountability from ECAB’s Board of Directors.
He specifically called out the Board Chairman, Craig Walter, for his alleged silence on the matter. Browne demanded Walter’s resignation or that an extraordinary meeting be held to demand it.
Browne believes that if ECAB’s leadership is not held accountable, they will continue to offer inferior banking services and treat people with contempt.
Despite efforts to contact ECAB’s management, there has been no comment from them on the matter.
However, it has been reported that an official statement will be released soon.
The PM also defended his government’s decision to support ECAB’s acquisition of Scotiabank, despite public interest from Trinidad and Tobago’s Republic Financial Holdings Limited (RFHL).
RFHL wanted to acquire Scotiabank, but the move fell through due to reported differences in valuation with the government.
Browne maintained that it was best for the country and its banking sector to scale up small and vulnerable banks to make them resilient against internal and external shocks.