A banking license has been issued to Eastern Caribbean Amalgamated Bank (ECAB) to conduct banking activities in Antigua and Barbuda. ECAB has also obtained the necessary regulatory approvals to purchase and assume certain assets and liabilities of Bank of Antigua Ltd. which is currently under the control of Eastern Caribbean Central Bank.
The birth of this new bank marks an historic moment in the lives of the people of Antigua and Barbuda. For the first time, five of the largest regional banks from across the Currency Union, joined forces with the Government of Antigua and Barbuda to underwrite the establishment of an indigenous bank in the interest of continued financial stability in the Currency Union.
ECAB will open its doors to the public on 18th October, 2010 as a fully functional and significant player on the local financial landscape. The savings, deposits, loans and other accounts of current customers of Bank of Antigua will be transferred seamlessly into ECAB with no interruption to service provided to customers.
There will be a conversion period, during which time ECAB will continue to honour all Bank of Antigua customer cheques and credit/debit card transactions. The cooperation of the public is solicited to continue to accept these forms of payment from customers of the bank, until further advised.
ECAB is well poised to deliver superior banking services to both new and existing customers from the largest network of branches in Antigua, strategically located around the island.
The Board of Directors, Management, and Staff of the Eastern Caribbean Amalgamated Bank wish to thank all customers for their support, loyalty, and patience during this transition period.
A heartfelt welcome is extended to all to be a part of ECAB: Our Future, Our Bank.
Information or updates on the Bank can be received from the Eastern Caribbean Amalgamated Bank’s website at www.ecabank.com or by contacting the Client Service Center at 480-6187 or info@ecabank.com.