ECCB Ends 2023-24 Financial Year On Very High Note

The Eastern Caribbean Central Bank (ECCB) has published its Independent Auditors’ Report and Financial Statements for the Financial Year ended 31 March 2024. For the 2023-2024 financial year, ECCB attained a record profit of $80.2 million, the highest ever in the Bank’s history. The financial year, dubbed a year of ‘Reflection, Celebration and Implementation’, in honour of the ECCB’s 40th Anniversary, saw the Bank continuing to deliver service excellence to the governments and people of the Eastern Caribbean Currency Union (ECCU) in fulfilment of its purposes and strategic priorities. In pursuit of its mandates for monetary and financial stability, the ECCB advanced work on the establishment of a Regional Standards Setting Body for the regulation of the non-bank financial sector and for an Office of Financial Conduct and Inclusion. Work also advanced towards the operationalisation of a credit bureau for the Currency Union, the launch of which is planned for later in 2024. The Bank maintained its focus on modernising payments in the region with the conclusion of its central bank digital currency pilot and work on the development of an instant payments system. In addition, the first ever Financial Inclusion and Literacy Survey for the ECCU was successfully completed,...