ECCB reports record profit of EC$80.2 million
Central bank attained highest-ever profit in last fiscal year, after loss of EC$54 million
The Eastern Caribbean Central Bank (ECCB) announced on June 28 that it attained a record profit of EC$80.2 million (US$29.7 million) in the 2023–24 fiscal year.
The fiscal year ended on March 31, 2024. The profit comes after the previous year had seen a loss of more than EC$54 million.
“This turnaround was largely driven by considerably higher revenues earned on the bank’s foreign reserve assets, given the sustained increase in the Federal Reserve’s benchmark interest rate throughout the financial
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