ECCB revokes banking licence of First St Vincent Bank

The Eastern Caribbean Central Bank (ECCB) has advised that pursuant to section 14 of the Banking Act, No 4 of 2015, of the laws of St Vincent and the Grenadines (the Banking Act), the ECCB has revoked the licence of First St Vincent Bank Ltd’s (FSVB) to carry on banking business, effective August 31, 2023.

A release from the ECCB said it exercised its powers under section 138 of the Banking Act and appointed Receivers for FSVB effective May 26, 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 Government Gazette and a newspaper within St Vincent and the Grenadines.