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Loyal Bank celebrates 10th year

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07.DEC.07

Loyal Bank celebrated its 10th anniversary of the founding of the bank by hosting a dinner at the French Veranda restaurant recently.{{more}}

According to a release, the bank received its license in 1997, which was the first license ever issued to a bank established under the International Banks act. “Loyal Bank is proud to be the longest established international bank in St. Vincent and the Grenadines as well as the largest bank and largest employer in the international sector,” the release said.

Guests at the dinner included HE The Governor General, Sir Frederick Ballantyne and the Ambassador of the Republic of Cuba as well as senior representatives of the International Financial Services Authority and of the Financial Intelligence Unit. Leaders of the Accounting, Information Technology, Shipping and Legal professions were also represented.

Representing the bank were the Beneficial Owner Mr. Otto Hujber and the Chairman Mr. Stephen Kostyal, who had traveled from Europe for the occasion, and members of the St. Vincent-based staff.

In a welcoming address respected legal practitioner Dr. Linton Lewis, who in his capacity as the head of the regulatory authority in 1997 signed the bank’s original license, praised the achievements of Loyal Bank over the past 10 years and the contribution the bank had made to the economy and employment in St. Vincent as well as maintaining its operations here during the unfair former blacklisting of St. Vincent by the OECD and FATF.

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