St. Kitts – Nevis National Bank Earns EC$81m Profit In 2007

Basseterre, St. Kitts – Nevis
March 05, 2008 (CUOPM)
The indigenous St. Kitts – Nevis – Anguilla National Bank is reporting a net profit of EC$81 million in 2007 compared to EC$68 million in 2006.

Bank Chairman, Mr. Walford Gumbs in the Annual Report for 2007, released at the recent 37th Annual General Meeting, disclosed that total assets increased to EC$1,935,130,000 or 19.9 percent from EC$1,614,256,000 in 2006, while deposits grew from EC$1,141,913,000 in 2006 to EC$1,290,808,000 or 13 percent in 2007.

He said that the Bank’s loan portfolio increased by EC$132,886,000 or 15.7 percent to EC$979, 357,000 from EC$846,471,000 in 2006.

Mr. Gumbs said the achievements in the Bank’s operations during the year are extremely commendable as this performance surpassed budgetary estimates.

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