Caribbean Commercial Bank (Anguilla) Limited

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On August 12, 2013 the Eastern Caribbean Cenlral Bank assumed the control of 2 largest banks which operate in Anguilla: Caribbean Commercial Bank (Anguilla) Limited and National Bank of Anguilla Limited.

The amount of non-performing loans of these banks escalaled to the levels beyond the guidelines set by the Central Bank and this in turn resulted in the banks not meeting the capilal requirements. The objective of this action were

  1. Stabilise and restructure the both banks and return them to a normal operational state.
  2. Protect the depositors and the creditors.
  3. Ensure the stability of the banking system in Anguilla and the Eastern Caribbean Currency Union.
On April 22, 2016 two domestic banks of indigenous capital National Bank of Anguilla Limited and Caribbean Commercial Bank (Anguilla) Limited ceased to carry their banking business. The operations of the banks were transferred to a newly established bank, National Commercial Bank of Anguilla Limited, which is solely owned by the Government of Anguilla.

Bank Category

Domestic banks

There is no deposit guarantee scheme in Anguilla: in the case of Caribbean Commercial Bank (Anguilla) Limited failure its depositors will not get any compensation.

Contacts

The Valley, Anguilla
23
(264) 497-2571
(264) 497-3570

Bank Identifiers

BIC (SWIFT)
CABNAIAI
Close Date
22 April 2016