The National Commercial Bank of Anguilla (NCBA) is an amalgamation of the island’s former two indigenous banks – the Anguilla National Bank and the Caribbean Commercial Bank.
They were taken over by the Eastern Caribbean Central Bank in August 2013 when they failed. In 2015, the NCBA was formed into a Bridge Bank and, earlier this year, 2021, having reached a point of much financial progress and organisation – it was established as a fully-commercial bank.
It has been owned by the Government, on behalf of the people of Anguilla, since it was a Bridge Bank. The Government is now moving to divest itself of NCBA and is in course of discussions, along with a divestment committee, with at least two interested parties.
This has been explained by Anguilla’s Premier and Minister of Finance, Dr. Ellis Lorenzo Webster. Speaking during a Radio interview with Mr. Keith (Stone) Greaves, on Monday, October 25, the Premier said:
“What is happening right now is that there is a divestment committee that has been formed. I am an observer on that committee. We are going to do an evaluation first…of what the bank is worth. Once we do that, a prospectus will be formed and sent out. There are two entities that have made advance proposals to buy NCBA. Those two will be taken into consideration, but we want to get the valuation done first – and get the prospectus out before we entertain any offers.”
