Basseterre, St.Kitts, (June 2nd, 2018):-The St.Kitts Nevis Anguilla National Bank Group of Companies, the parent company of the Largest Indigenous Bank in the OECS, recently held their 47th Annual General Meeting. Near 400 Shareholders attended and received the good news that the Bank Group recorded a 40% Increase in Profits.
Mr. Donald Thompson, Chief Executive Officer (Ag.) indicated that the Group recorded net income of $39.5 million at the end of June 2017, which represents a 39.0% or $11.1 million increase when compared with $28.4 million in 2016. The Bank saw increases in Total Assets from the previous year as well as increases in Earnings Per Share. This is significant as the bank saw the highest earnings per share when compared with the last four years. Overall, the Group recorded improvements in most of the key performance ratios. For the 2016-2017 financial year, the Group has so far paid an interim dividend of $6.75 million or $0.05 per share in December 2017.
Chairman of the Board, Mr. Alexis Nisbett commented on the performance of the Group and stated, “The Group’s most recent performance is a testimony to the commitment, loyalty and confidence of our shareholders and customers as well as the hard work and dedication of staff. The Group’s remarkably good performance over its 47-year history is also indicative of its strength and stability as demonstrated by the deposits, shareholder’s equity and reserves recorded.”
One of the main activities at the AGM was the election of Directors. Over the last year two vacancies became available with the retirement of director Theodore Hobson QC and former Chairman retired Director Howard McChechrane . In addition Directors Wallis Wilkin, Elreter Simpson-Browne and Dr. Analdo Bailey were retired by rotation but offered themselves for re-election. The three rotating retired Directors were all re-elected by the shareholders. The shareholders also elected Franklin Maitland and Lorna Hunkins to fill the remaning two vacancies
The full compliment of Directors of the new SKNANB Board now are:
(Back Row L-R) William Liburd, Dr Cardel “Bal” Rawlins, Wallis “Wally” Wilkin, Franklin Maitland, Lionel “Benjax” Benjamin, Stephen Hector (Company Secretary)
(Front Row L-R): Lorna Hunkins, Dr Analdo Bailey, Alexis Nisbett (Chairman), Talibah Byron, Elreter Simpson-Browne