St. Kitts and Nevis (WINN); The St. Kitts-Nevis-Anguilla National Bank Limited held its 46th Annual General Meeting on Thursday (Apr 27) and reported another consecutive year of increased net profit, total assets, and customer deposits.
The meeting was held at the St. Kitts Marriott Resort and was presided over by Howard McEachrane, Chairman of the National Bank Board of Directors.
According to the audited 2016 financial statements, National Bank recorded a net profit of $28,374,000 for 2016, up from $25.8 million in 2015, and $25.25 million in 2014.
Total assets recorded in 2016 stood at $3,697,059,000 compared to $3.649 billion in 2015, $3.16 billion in 2014, and $2.86 in 2013.
National Bank has almost doubled its total customer deposits over the past five years going from $1.7 billion in 2012 to $3,049,273,000 in 2016. This year’s customer assets increased by $53.18 million over that of 2015.
The bank paid out $13.5 million in dividends to its 5612 shareholders for the financial year ended June 30, 2016.
The AGM also saw three Directors namely, Mr. Theodore Hobson, Ms. Talibah Byron and Mr. Lionel Benjamin, who were retired by rotation, duly re-elected.
The St. Kitts-Nevis-Anguilla National Bank Limited, of which the federal government is a 51% majority shareholder, has five branches across St. Kitts and Nevis, employing 257 persons.