Published 24 May 2018
Buckie Got It, St. Kitts and Nevis News Source
39.0 % Increase in Profits ! National Bank Group of Companies To Announce Another Year of Success at its 47th Annual General Meeting
BASSETERRE, ST. KITTS (May 23, 2018) – The National Bank Group of Companies will convene its 47th Annual General Meeting at the Park Hyatt St. Kitts on Thursday, May 31, 2018, at 5 p.m.
According to the Chairman of the Board, Mr. Alexis Nisbett, “The Group’s most recent performance is a testimony to the commitment, loyalty and confidence of our shareholders and customers as well as the hard work and dedication of staff. The Group’s remarkably good performance over its 47-year history is also indicative of its strength and stability as demonstrated by the deposits, shareholder’s equity and reserves recorded.”
He further stated, “We anticipate this pattern of growth to continue and we remain resolute in our commitment to our Mission: To be an efficient, profitable and growthoriented financial institution, promoting social and economic development in the national and regional community by providing high quality financial services and products at competitive prices.”
Mr. Donald Thompson, Chief Executive Officer (Ag.) echoed the sentiments of the Chairman and added that the Group recorded net income of $39.5 million at the end of June 2017, which represents a 39.0% or $11.1 million increase when compared with $28.4 million in 2016. The Bank saw increases in Total Assets from the previous year as well as increases in Earnings Per Share. This is significant as the bank saw the highest earnings per share when compared with the last four years. Overall, the Group recorded improvements in most of the key performance ratios. For the 2016-2017 financial year, the Group has so far paid an interim dividend of $6.75 million or $0.05 per share in December 2017.
The Directors, Management and Staff look forward to hosting the Group’s shareholders at the upcoming AGM. Transportation will be provided from Basseterre and Nevis for shareholders wishing to attend the meeting. Further details will be provided at a later date.
