The Eastern Caribbean Central Bank (ECCB), headquartered in St. Kitts and Nevis, has recorded the highest net profit in its 41-year history—an unprecedented EC$126.2 million—for the financial year ending 31st March, 2025. This marks a 57.5 per cent increase over the EC$80.2 million profit earned the previous year.
The milestone, outlined in the ECCB’s recently released Report and Statement of Accounts, was driven largely by strong returns on the Bank’s foreign reserve assets and effective execution of strategic initiatives. The ECCB serves as the monetary authority for the eight-member Eastern Caribbean Currency Union (ECCU), comprising Anguilla, Antigua and Barbuda, Dominica, Grenada, Montserrat, St. Kitts and Nevis, St. Lucia, and St. Vincent and the Grenadines.
Governor of the ECCB, Grenadian-born Timothy Antoine, attributed the stellar performance to prudent financial management and stable operational expenditure. “These results reflect the Bank’s execution of key strategic initiatives and sustained progress in advancing its mandate and long-term priorities,” he said.
According to the report, the bank’s total assets stood at EC$6.14 billion, up EC$355.5 million or 6.1 per cent from the previous year. This expansion was primarily due to growth in both foreign and domestic assets.
Foreign assets rose by EC$263.3 million (5 per cent) to EC$5.49 billion, fuelled by inflows from loans issued to member governments by international institutions, purchases of regional and foreign currencies from commercial banks, and fair value gains on investment securities. This growth was partially offset by the net sale of foreign currency balances to commercial banks.
Domestic assets grew by EC$92.2 million (16.4 per cent) to EC$653.5 million. Key contributors included a EC$55.6 million increase in property and equipment, attributed to fixed asset acquisitions and revaluation gains, and a EC$47.5 million rise in advances to participating governments.
The report did, however, note declines in some areas. Pension assets dropped by EC$8.4 million due to actuarial losses, while intangible assets fell by EC$6.2 million primarily because of the derecognition of outdated software.
On the expense side, the ECCB reported operating costs of EC$97.7 million—a marginal EC$0.1 million decrease from the previous financial year. Impairment recoveries of EC$10.7 million helped offset rising expenditures in staff salaries and administrative costs.
The record-setting profit reinforces the ECCB’s position as a well-managed and financially sound institution at the centre of the Eastern Caribbean’s economic architecture. The Bank’s performance not only underscores its role in monetary stability but also reflects its strategic alignment with the region’s developmental goals.
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