National Bank Group of Companies makes EC$13.9 million in profit


Shareholders to take home an additional EC$7.4 million

Photo (left to right), Financial Controller, Mr. Donald Hutchinson; Acting Managing Director, Mr. Esrick Lanns; Deputy Board Chairman, Mr. Mitchell Gumbs; Board Chairman, Mr. Linkon Maynard; Board Secretary, Mrs. Yvonne Merchant-Charles and Legal Officer, Mr. Stephen Hector (Photo by Giles Dickenson)

Shareholders of the St. Kitts-Nevis-Anguilla National Bank are to get an additional EC$7, 425,000 in dividends, in addition to the interim payment of EC$8.1million paid in December.

"An an interim dividend of 6.00% or $8.10 million was previously distributed; a final dividend of 5.5% or $7.425 million was approved at the meeting which resulted in a total of 11.50% or $15.525 million for the year ended June 30, 2012," the Bank said following its 42nd Annual General Meeting last Thursday.

Mr. Linkon Maynard, Chairman of NATIONAL Group of Companies Board of Directors presided over the meeting attended by over 300 of the shareholders at the St. Kitts Marriott Resort and the LIME Conference Center in Nevis.

A major highlight of the meeting was the presentation of the financial statements which disclosed in the audited 2012 financial statements, that NATIONAL had EC$2.5 billion in assets and made a profit of EC$13.9 million in 2012.

In discussions on the Accounts, Directors Report and the other agenda items, the Board, Senior Management and Shareholders shared ideas and pledged continued effort to build on the remarkable success of the largest indigenous Bank in the OECS.

"NATIONAL is well recognized in the Banking industry for its innovative leadership in providing e-commerce solutions," the Bank said in a statement.

Another high point of the meeting was the introduction of CenPOS, an intelligent payment processing network that is guaranteed to change the landscape of electronic payments domestically and regionally.

"CenPOS ushers in the transition from stationary POS terminals and paper processing to mobile payment solutions with virtual terminals and data bases," said National, pointing out that during the year under review, it also successfully launched its first VISA branded Credit Card, a Master Card Prepaid Card and a Mobile Top-up Solution.

"These products are all in line with the global shift to a green environment," the Bank said.

In accordance with the Bank’s Articles of Association, three Directors, Mr. Linkon Maynard, Ms. Elsie Mills and Mrs. Eugenie Byron-Condor retired by rotation.

Mr. Linkon Maynard and Ms. Elsie Mills were re-elected and Mr. Clement Williams was elected as Director.

Shareholders expressed satisfaction with Bank’s performance during the year under review. NATIONAL has generated considerable profit and paid substantial dividends consecutively over its 42 years of operations.

The complete 2011/2012 Annual Report is available on the NATIONAL website at