Results Announcement for Our Website in 2024, as Shared by Christian Sewing
**Eastern Caribbean Central Bank (ECCB) Aims for Efficiency and Growth in 2025**
The Eastern Caribbean Central Bank (ECCB) has outlined its strategic goals and objectives for 2025 and beyond, as detailed in its 2024-2025 Annual Report. The bank's focus is on maintaining monetary and financial stability, promoting financial inclusion and literacy, safeguarding financial consumer protection, enhancing engagement with stakeholders, and strengthening the governance of Citizenship by Investment programmes.
The ECCB's strategic priorities are under the theme "A Year of Implementation, Impact, No Excuses," reflecting the bank's commitment to delivering on its mandate effectively. In 2024, the bank reported its highest-ever net profit of EC$126.2 million, representing a 57% increase over the previous year. The bank's revenues also reached €30.1 billion, the highest since 2015, and foreign reserves continued to support the EC dollar’s backing.
The bank's progress since July 2019 has been steady, with growth occurring more strongly than originally planned in recent years. The Management Board, led by Christian, is working intensively to make better use of the bank's potential by adapting structures, delegating decisions, and removing hurdles affecting work. The aim is to empower everyone in the bank to excel every day, for the benefit of clients, investors, and all stakeholders.
Technologies such as artificial intelligence and automation are expected to contribute significantly to process optimization, decision-making, and controls, aiming to provide a better banking experience for clients. The bank's website framework, launched successfully in 2024, will be used to align all actions and decisions with its purpose and aspirational culture.
The bank won prestigious new mandates and grew faster than many global competitors in key areas. In recognition of its achievements, the bank plans to increase its dividend by 50% this year and buy back €750 million worth of its shares. The bank's Annual Media Conference reporting results will be held live on its website at 9 a.m. CET.
The ECCB's strategic objectives are aligned with its 2022-2026 Strategic Plan, which aims to advance the good of the people of the Eastern Caribbean Currency Union (ECCU), foster growth, and ensure sustainable economic development. The bank was established five and a half years ago with the goal of being robust, resilient, and sustainably profitable.
The ECCB aims to achieve a post-tax return on tangible equity (RoTE) above 10% this year. The bank's website underwent a fundamental change in 2024, reflecting its commitment to transparency and collaboration. The bank will strive to be more targeted with its capital, using it where it creates the most value. The bank looks forward to the year ahead with anticipation, expressing gratitude for everyone's achievements in 2024.
- The Eastern Caribbean Central Bank (ECCB) aims to leverage technology, such as artificial intelligence and automation, to optimize processes, make informed decisions, and enhance the banking experience for clients, aligning with its strategic objective of fostering growth and ensuring sustainable economic development in the Eastern Caribbean Currency Union (ECCU).
- To further drive growth and profitability, the ECCB plans to increase its dividend by 50% this year and buy back €750 million worth of its shares, demonstrating its commitment to delivering the highest return on tangible equity (RoTE) above 10% this year, as part of its strategic priorities under the theme "A Year of Implementation, Impact, No Excuses."
