Ahead of its 41st Annual General Meeting next week,
the St. Kitts-Nevis-Anguilla National Bank is reporting that total assets grew
from EC$2.27 billion as at 30th June 2010 to EC$2.48 billion as at the 30th
June 2011.
Net income before tax increased by EC$12.9 million from EC$33.8 million at the
end of June 2010 to EC$46.7 million at the end of June 2011.
Net income after tax increased by EC$11.6 million from EC$33.2 million at the
end of June to EC$44.8 million at the end of June 2011.
National Bank Chairman, His Excellency Ambassador Walford Gumbs said the
achievement by National Bank over the last year is commendable in light of the
global financial crisis that has been affecting economies on every continent.
He said it was hoped that by now some significant recovery would have been
experienced. However, according to the Organization for Economic Cooperation
and Development (OECD), leading indicators all point to a slowdown in economic
activity in the Worlds’ major developed economies.
“This is certainly not good news for us in small developing economies in the
Caribbean that suffer fallout from downturns in the developed countries,” said
Mr. Gumbs, who commended the Directors and Staff for the achievement.
He said National Bank will continue to develop new products, continue its staff
training policy, increase its customer share, improve customer service and
staff efficiency.
“These measures are necessary to enable the Bank to stay on course and stem the
tide of uncertainly brought about by a worldwide financial crisis,” said the
Bank Chairman, who pledged National Bank’s continued assistance to community
and youth programmes that are geared to the holistic development of young
people.
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