ECCB reports eecord EC$126.2 million profit — Highest in bank’s history

The Eastern Caribbean Central Bank (ECCB) has recorded its highest profit since its establishment, posting a net profit of EC$126.2 million for the financial year ending March 31, 2025 — a 57.5% increase over the previous year.

In its latest Report and Statement of Accounts, the ECCB credited the landmark performance to prudent financial management and strong returns on foreign reserves.

“The Bank delivered a strong financial performance… largely attributed to higher interest earned on the Bank’s foreign reserve assets,” wrote Governor Timothy Antoine in the report. The profit represents an increase of EC$46.1 million from the EC$80.2 million recorded in the 2023-2024 financial year.

The ECCB serves as the monetary authority for the Eastern Caribbean Economic and Currency Union (ECCU), comprising Anguilla, Antigua and Barbuda, Dominica, Grenada, Montserrat, St Kitts and Nevis, St Lucia, and St Vincent and the Grenadines. All eight share a common EC dollar and monetary policy, with Anguilla and Montserrat being British Overseas Territories.

As of March 31, 2025, the ECCB’s total assets reached EC$6.14 billion, reflecting an increase of EC$355.5 million (6.1%) over the previous year. This was driven by growth in both foreign assets, which rose by EC$263.3 million (5%), and domestic assets, which increased by EC$92.2 million (16.4%).

The report attributed the foreign asset gains to inflows from international loans to member governments, currency purchases from commercial banks, and fair value gains on foreign investment securities. Domestic asset growth was led by increases in property, equipment, and advances to participating governments — despite declines in pension and intangible assets.

Operating expenses held steady at EC$97.7 million, with a slight decrease of EC$0.1 million from the previous year. Notable shifts included a EC$10.7 million gain from impairment recoveries, which offset increases in staff-related costs (up EC$5.8 million) and administrative expenses (up EC$3.5 million).

The ECCB says the financial results reflect not only disciplined expenditure but also the successful execution of its strategic initiatives and long-term goals.

“These results reflect the Bank’s execution of key strategic initiatives and sustained progress in advancing its mandate and long-term priorities,” the report concluded.