Statement from the Board of Directors of St. Vincent Co-operative Bank Ltd. Regarding Recent Public Commentary on Shareholding and Investment Interest.
The St. Vincent Co-operative Bank Ltd (“the Bank”) is proud of its legacy as a trusted and resilient financial institution, now in its 80th year of service to the people of St. Vincent and the Grenadines. Founded through the contributions of teachers, fishers, small farmers, and other working individuals, the Bank has grown steadily over the decades, remaining firmly rooted in the principles of community, stability, and prudent financial stewardship. Our record of success as an indigenous institution continues to attract the interest of potential investors.
In this context, the Board of Directors (“the Board”) acknowledges the public statement dated April 30, 2025, issued by La Fleur Bancorp Limited expressing its intention to acquire a controlling interest in the Bank and indicating its status as a shareholder. However, it must be emphasized that, even upon formal registration, La Fleur Bancorp’s shareholding in the Bank remains nominal.
While we note the interest expressed, we take this opportunity to reaffirm that any official statements regarding the Bank’s position, governance, or ownership structure will be communicated directly through the Bank’s authorized channels. This is essential to ensure accuracy and maintain confidence during any process that may have implications for the institution and its stakeholders.
The statement issued by La Fleur Bancorp Limited reflects solely its own intentions and was not made on behalf of the Bank.
The Board reiterates that the decision to sell shares rests solely with individual shareholders, and not with the Board. It is our understanding that any acquisition of a licensed financial institution is subject to the prior approval of the Eastern Caribbean Central Bank (ECCB). As part of its regulatory process, the ECCB will undertake its own due diligence, including an assessment of the proposed beneficial owners, and will determine their fitness and probity.
As a general principle, expressions of interest in the Bank are handled discreetly and through established procedures. Where appropriate, the Bank engages with the necessary parties and regulatory bodies, and any developments warranting public communication will be conveyed through our official channels.
We take this opportunity to assure our customers, shareholders, and the public that the Bank remains financially sound, and it is business as usual across all operations.
