Antigua Bank denies it is under regulatory intervention

The Global Bank of Commerce Ltd (GBCL), of Antigua and Barbuda has “unequivocally” rejected all claims that the institution is under any regulatory intervention describing the reports in the local media as “false and malicious”.

In a statement, the bank said it also wanted to make clear that a story, posted by an online publication on January 7 “alleging that the “Court orders Global Bank to pay depositor over US$10 million with immediate effect” is untrue and misleading to the general public since this matter is yet to be concluded and remains in the judicial process while the parties continue necessary discussions.

“We are also aware that, as part of what appears to be an orchestrated malicious campaign, there are unfounded allegations which have also been circulated on social media, such as WhatsApp, again by a person or persons, hiding their identity to avoid prosecution.

“As a financial organization, owned, operated and staffed by nationals of Antigua and Barbuda, which has provided over 40 years of dedicated service from Antigua and Barbuda to the international community, we assure the public and our clients of continued capacity and commitment to providing first-rate international banking services,” the statement said.

GBCL said its legal team “has noted that the identity of the authors and publishers of the misleading and mischievous information …is hidden.

“Nonetheless, the legal team is pursuing these reckless allegations to bring the perpetrators to light and hold them accountable for their mischief,” it added.

CMC/