The Government-owned National Commercial Bank of Anguilla (NCBA) is now operating from one location, having vacated one of its two branches in The Valley area – a stone’s throw from each other.
The move, considered to make more sense, has seen the closing of the branch at the former National Bank of Anguilla building. The building, owned by another company, was reportedly costing NCBA a monthly rent of some EC$217,000. The bank now operates solely from the former Caribbean Commercial Bank building. With the closing of the branch, some 23 staff members have been laid off with the remaining employees now confirmed in their various positions.
NCBA owns an imposing office building in the western area of the island which for the time being remains unoccupied.
Following is a press release issued by NCBA regarding the closure of the above-mentioned branch.
“The National Commercial Bank of Anguilla today announced that the Eastern Caribbean Central Bank (ECCB) has approved the closure of the Bank’s Mahogany Branch (former NBA building). This location will therefore be permanently closed effective Friday December 30th, 2016 at 12:00 noon. As a result, on Tuesday January 3rd, 2017 the Bank will only be operating from its owned location, the St. Mary’s Branch (former CCB building) in The Valley.
“Customers are asked to take note that the ATM service at the Mahogany Branch will still be operational after the closure. Similarly, the Night Bag Deposit service will remain available at this location for the drop off of Night Deposit Bags until further notice. Further correspondence to the Night Deposit customers will be communicated under separate cover.
“The closure of the Mahogany Branch which is not owned by NCBA is a part of the Bank’s continuing efforts to improve and strengthen business performance and improve profitability.
“Considerable efforts have been made to assess the manpower needs that is required to ensure that NCBA remains competitive going forward. As such, further evaluation of the staffing requirements for the operation of the Bank has been conducted and it is understandable that a more suitable complement will be required going forward.
“The Board of Directors have taken all steps to ensure that the transition to one location is a seamless one and as such substantial efforts have been made to ensure that the impact on the customers is minimal.
“Sincere thanks is extended to all stakeholders and staff who have contributed meaningfully to NCBA’s growth and viability since it commenced operations. The Board of Directors, Management and Staff remain committed to ensuring that the Bank is managed in a prudent and professional manner, providing quality banking services that supports the Anguillian economy.”
