Eastern Caribbean Central Bank annual report reports record EC$126.2 million profit and progress on market conduct and non-bank regulation plans

The Eastern Caribbean Central Bank (ECCB) has published its 2024-2025 Annual Report, setting out delivery against its 2022-2026 Strategic Plan priorities, including monetary and financial stability, financial inclusion and literacy, financial consumer protection, stakeholder engagement, and strengthened governance of Citizenship by Investment Programmes (CBI/CIP). For the financial year ended 31 March 2025, the ECCB reported growth in foreign reserves, continued strong backing of the EC dollar, and a record net profit of EC$126.2 million, up 57.0% from the prior record of EC$80.2 million in 2024. On regulatory initiatives, ECCB member countries began enacting the Banking Amendment Bill (2024) drafted by the ECCB to facilitate market conduct regulation and financial consumer protection for customers of Licensed Financial Institutions under the Banking Act (2015), including a Basic Bank Account and an Office of Financial Conduct and Inclusion. The report also notes Monetary Council approval in October 2024 to establish the Eastern Caribbean Financial Standards Board as a proposed integrated regulator for the non-bank financial sector (including credit unions and insurers), with the ECCB undertaking country consultations on design elements alongside work to finalise an Insurance and Pensions Bill and establish deposit insurance. Operationally, the ECCB supported the launch of the EveryData Credit Bureau across the Eastern Caribbean Currency Union, with Antigua and Barbuda going live in September 2024, and it continued to lead regional work on CBI/CIP through an Interim Regulatory Commission developing an enabling legal framework expected to become law by end-2025.