Antigua and Barbuda
Sir Dwight Says Operations Normal At ABI Bank
- Details
- Banking
- Tuesday, 26 July 2011 02:30
- By Everton Barnes
Antigua St John's - Normal operations continued at ABI Bank on Monday despite the weekend announcement that the bank is now under the full control of the St Kitts-based Eastern Caribbean Central Bank (ECCB).
In fact, to encourage confidence in customers, Governor of the ECCB Sir K Dwight Venner was at the bank’s main office on Monday to greet customers and assure that everything was running smoothly.
“The people of Antigua are showing a lot of maturity, and they are going about their normal business, and while there has been some speculation that there might be a run on the bank, this has not materialized,” the governor told Caribarena.com.
He said he has confidence in the people, and his presence should provide a measure of confidence in ABIB's stability. According to Sir Dwight, when the bank’s Woods Mall branch opened on Saturday, it was also business as usual.
One customer approached the ECCB head and said his presence had given her the confidence to retain her deposits at the bank. “I came here with the intention to withdraw my money. My CD’s matured on Saturday, and it was my intention to move that money, as I was burnt by the British American Insurance fiasco and I did not want to be burnt a second time, but your presence here has given me the confidence that I needed to retain my savings here and I decided against moving it,” she said.
On Friday, a statement from the government and the ECCB announced that ABIB was facing challenges in meeting both its statutory obligations and other liquidity issues. The ECCB, following consultation with the Eastern Caribbean Currency Union, exercised its powers in taking over full control of the bank to provide stability and leadership to the institution.
See related stories:
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Statements from Sir Dwight Minister Lovell and PM Spencer on ABI Bank
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8 Comments In This Article
ECCB HAVE A LOT TO LOOSE
The ECCB are only in there as this is a main stream UPP Bank i say if it fails its beacuse goverment got thier sticky fingers in there and the board members all ran away.. facts are the facts.. where are they all now ?
Are the ECCB now politicaly motivated...whe re where you when British American failed ?
Smile for the camera Sir DV you really can fool us hard investors much longer.
Private Eye
Wha-appen?
The ABIB directors, our government and the ECCB owe us an explanation as to how this was allowed to occur and the causations therein.
Put the house in order yes, but I still want to get to the heart of what really went on here. So far, all I'm hearing his self congratulatory remarks to themselves on how they averted this bank from failing and no details about what or who caused it.
Buzzbomb
@Cool Ruler
Dig It
RE: Sir Dwight Says Operations Normal At ABI Bank
Cool Ruler
When will our leaders learn-be real to your people
Dig It
RE: Sir Dwight Says Operations Normal At ABI Bank
Ipp On Upp
Jesus has come, we are saved
skyewill
RE: Sir Dwight Says Operations Normal At ABI Bank
Wayne Marsh
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