Basseterre, Saint Christopher (St Kitts) and Nevis – The Eastern Caribbean Central Bank (ECCB) advises that pursuant to section 14 of the Banking Act, No 4 of 2015, of the laws of Saint Vincent and the Grenadines (the Banking Act), the ECCB has revoked First St Vincent Bank Ltd’s (FSVB) licence to carry on banking business effective 31 August 2023.
The ECCB exercised its powers under section 138 of the Banking Act and appointed Receivers for FSVB effective 26 May 2023 at 4:00 p.m. FSVB was closed with immediate effect and ceased to carry on banking business.
The ECCB will publish a Notice of Revocation in the Gazette and a newspaper within Saint Vincent and the Grenadines.