The Eastern Caribbean Central Bank (ECCB) advises that pursuant to section 14(1)(e) of the Banking Act, No 1 of 2015, of the laws of Saint Christopher (St Kitts) and Nevis, as amended, it has revoked BON Bank Ltd’s licence to carry on banking business effective 15 December 2023.
According to the ECCB, BON Bank Ltd was subsumed into the operations of The Bank of Nevis Limited effective 31 January 2023, and has ceased to conduct banking business. This revocation of licence will have no effect on the operations of The Bank of Nevis Limited.
The ECCB says it will publish a Notice of Revocation in the Gazette and a newspaper in Saint Christopher (St Kitts) and Nevis.
The Eastern Caribbean Central Bank (ECCB) was established in October 1983. The ECCB is the Monetary Authority for: Anguilla, Antigua and Barbuda, Commonwealth of Dominica, Grenada, Montserrat, Saint Christopher (St Kitts) and Nevis, Saint Lucia and Saint Vincent and the Grenadines.