According to section 14 of the Banking Act, No. 4 of 2015, of the statutes of Saint Vincent and the Grenadines (the Banking Act), the Eastern Caribbean Central Bank (ECCB) has revoked First St Vincent Bank Ltd’s (FSVB) license to conduct banking business effective August 31, 2023.
The ECCB exercised its authority under section 138 of the Banking Act on May 26, 2023 at 4:00 p.m. and appointed Receivers for FSVB. FSVB was shut down immediately and discontinued to conduct banking operations.
The ECCB will publish a Notice of Revocation in the Saint Vincent and the Grenadines Gazette and a local newspaper.
About the Central Bank of the Eastern Caribbean:
In October 1983, the Eastern Caribbean Central Bank (ECCB) was established. Anguilla, Antigua and Barbuda, the Commonwealth of Dominica, Grenada, Montserrat, Saint Christopher (St. Kitts) and Nevis, Saint Lucia, and Saint Vincent and the Grenadines are governed by the ECCB.
