The National Commercial Bank of Anguilla (NCBA) held its tenth anniversary corporate dinner at the elegant DaVida’s Restaurant in Crocus Bay on the evening of Saturday, April 25th.
The occasion, dubbed “The Decade: A Corporate Affair”, was attended by white-attired guests, representing a cross-section of Anguilla’s corporate community; the Honourable Premier Cora Richardson-Hodge; Her Excellency the Governor Julia Crouch; Government officials; stakeholders in business; staff and officers of the Bank itself; and former Premier Victor F Banks among others. The Mistress of Ceremony was the Director of Radio Anguilla, Ms. Farrah Banks.
The event was opened by a passionate prayer offered by the Bank’s Executive Assistant to the CEO, Ms. Karen Hodge. She thanked God for the foresight, courage and perseverance of those who laid the foundation of the institution, and for the leaders who had guided it through its seasons of growth. She also gave thanks for the members of the dedicated staff who had contributed to the Bank’s strength and reputation.
Warm welcome remarks were delivered by Executive Manager of Banking Services, Ms. Marisa Gumbs. Former CEO and current Chairlady of the Board, Mrs. Sharmaine Vaughan, delivered cordial remarks. As CEO, Mrs. Vaughan had served in quite an instrumental capacity during the Bank’s formative years.
“Today, NCBA is a strong, stable and highly performing financial institution,” Mrs. Vaughan declared. “We are the leading bank in Anguilla and in the Eastern Caribbean.” Referring to NCBA’s quality of transformation, she stated: “Today, we operate with strong liquidity, sound capital, improving asset quality and a clearly defined strategy for sustainable growth.”
She remarked that no institution can achieve this level of transformation alone. “This institution was built upon the shoulders of many, and so we pause to recognize and honor those who laid the foundation for the success that we celebrate today.”
She then acknowledged the work of the several past directors. She also commended the Bank’s past Secretary, Mr. Alex Richardson, who had faithfully served over the past ten years. In addition, she paid due recognition to past Chairmen Mr. Colville Petty and Mr. Carl Harrigan, as well as Vice-Chairman, Jeff Scott. “We thank you all for your stewardship, your courage and your leadership during the defining moments in our institution’s history,” she affirmed.
“To our management and staff, both past and present, you are the engine of NCBA. Your dedication, resilience and commitment to excellence, particularly during the challenging years, have brought us to this moment of celebration…”
“But as we celebrate, we also reflect on our inadequacies,” Mrs. Vaughn admitted. “We know there are certain areas that we must improve on, particularly in the area of service delivery. As your current Chairlady of the Board, I make this commitment to our customers. We hear you; we see you; and we will deliver.”
Governor of the Eastern Caribbean’s Central Bank (ECCB), Mr. Timothy Antoine was on hand to give congratulatory remarks and to highlight certain aspects of the bank’s development and history.
“In 2016 when I first came to Anguilla, it was to assess the conditions under which the two indigenous banks, National Bank of Anguilla (NBA) and Caribbean Commercial Bank (CCB) had collapsed and to try to formulate a solution. I recognized that good sense must prevail, and together, with the Government of Anguilla, the ECCB worked assiduously and relentlessly to execute the resolution.”
He stressed that crafting the creation of NCBA out of the demise of NBA and CCB was not an easy task. He noted that one of the key concerns after the formation of NCBA was to encourage Anguillians to embrace the newly modified bank, since it was the people’s bank, and it would only succeed if Anguillians rallied behind it. “Tonight, the jury is in,” Governor Antoine determined. “Anguilla has rallied behind NCBA.”
“Standing here, ten years later, I am immensely gratified by this outcome,” he said. “As a man of faith, in those early, trying days, I drew strength from a portion of Scripture found in Romans 12:12, which says: ‘Be joyful in hope; patient in affliction; faithful in prayer.’”
He characterized NCBA by three principles that have spelt its success, and he took time to elaborate on them: 1 – NCBA is a product of decisive leadership and strong partnership; 2 – NCBA has become a pillar of stability and national development for the people of Anguilla, evolving from bridge-bank to a billion dollar bank; and 3 – NCBA must see the next decade as one of transformation, innovation, strong governance and enhanced development impact.
Governor Antoine commended Anguilla’s Premier of that era: “It was Premier Victor Banks who provided decisive leadership at the moment of NCBA’s creation. Let us now applaud him,” he said.
In the same vein the Governor recognized the contributions made to NCBA by former Premier, Dr. Ellis Webster, who demonstrated great support for the institution. “He too must be applauded,” he said. And, of course, he acknowledged the service of the current Premier, Mrs. Cora Richardson-Hodge who is leading NCBA into its second decade.
In addition, Governor Antoine singled out the long-standing service of Mr. Aiden Harrigan who served as Permanent Secretary in the Ministry of Finance throughout the bank’s creation process. “I want to recognize his yeoman’s service,” he said. “So, Aiden, take a bow!” Governor Antoine acknowledged Mr. Harrigan for his role in contributing to the Bank’s buoyancy. Mr. Harrigan is a former Board Member of the ECCB as well as a current Board Member of NCBA.
Overall, Governor Antoine expressed his satisfaction and approval with NCBA’s operations: “NCBA is a trusted institution,” he stressed, “owned by the people of Anguilla, through the Government of Anguilla as the sole shareholder, holding the Bank in trust for the people of Anguilla. NCBA supports households and businesses all across Anguilla. This success belongs in no small measure to you, the people of Anguilla. Your trust made NCBA possible, and the Central Bank is pleased with your Bank’s progress.”
The Honourable Premier and Minister of Finance Mrs. Cora Richardson-Hodge also gave remarks. “I am both humbled and proud to stand before you, not only as Premier and Minister of Finance, but also as a former Minister of Government in 2016, when the National Commercial Bank of Anguilla was born from the vestiges of the National Bank of Anguilla and the Caribbean Commercial Bank…”
She reflected on how the weight of making the decision to create a new bank from the two collapsed banks laid heavily on the shoulders of the then Premier, Victor Franklin Banks, who shed many tears during the frustrating process.
In a somber yet emotional tone, the Premier reflected: “I don’t think any of us can appreciate the heavy weight that Mr. Banks carried. He felt the need to protect depositors’ accounts, preserve livelihoods, and to ensure stability in the banking sector. He felt the cost of implementing a resolution that might or might not have been successful and he felt the desire to ensure the continued existence of an indigenous Anguillian bank.”
The Premier invited all the guests present to resoundingly applaud Mr. Banks for his leadership and decisiveness during that difficult period of NCBA’s creation.
In retrospect, the Premier remarked that NCBA’s success was primarily due to the will of the people who worked hard to achieve the mission. “What made this institution truly special are its people,” she said. “The dedicated staff, the prudent leadership of its Board, and the trust placed in the Bank by its customers had all been essential to its success. So, this anniversary is as much a celebration of you, the people, as it is of the institution itself.”
Also speaking at the event were previous directors Ms. Marissa Harding-Hodge, and Ian Chinapoo who spoke via video feed. Interim CEO, Mr. Jerrick Evangelista presented an extensive report of the Bank’s financial standing. One spectacular feature of the night was the sterling rendition of Etta James’ “At Last” sung by Senior Credit Officer, Shyrone Hughes-James. This was followed by special presentations, and the Vote of Thanks by Director, Twana Duncan-Van Heyningen.
By: James R. Harrigan
