The 56th ANNUAL GENERAL MEETING of Shareholders of the ANTIGUA COMMERCIAL BANK was held at the City View Hotel situated at Newgate Street, St. John's, Antigua on Thursday, December 20, 2012.

At the Meeting, Mr. C. Davidson Charles and Mr. Gordon Derrick were re-elected as members of the Board of Directors. Mr. Reginald Peterson was also elected to serve on the Board.

Mr. Reginald Peterson, our newest Board member, is a retired Teacher by profession, a Small Business Operator and a Farmer. He served for a period as the Assistant Director of Education with responsibility for Vocational and Technical Education in the Ministry of Education. He holds a Bachelors of Education Degree. Mr. Peterson is also a Director/1st Vice President of the Lions Club of Antigua.

The present members of the Board of Directors of Antigua Commercial Bank Ltd. are:

  • C. Davidson Charles- Chairman
  • Gordon Derrick - Vice Chairman
  • Peter Blanchard - Vice Chairman
  • Michael Roberts - Vice Chairman
  • Philip Harris
  • Craig Walter
  • Alincia Williams- Grant
  • Mavis George
  • Lorraine Headley
  • Reginald Peterson

The Shareholders approved the payment of a dividend of 30 cents for each unit of share for the financial year ended September 30, 2011.

PricewaterhouseCoopers were re-appointed as the Group's External Auditors for the year ended September 30, 2012.

The ANTIGUA COMMERCIAL BANK GROUP maintained its strong financial position with total assets in excess of $871 million as at September 30, 2011 and realized a net profit for that year of $7.8 million.

ACB MORTGAGE AND TRUST COMPANY LIMITED, the Bank's wholly- owned subsidiary, continued its good performance within the Mortgage Industry. The Trust Company ended fiscal 2011 with assets in excess of $250 million and a net profit of $3.9 million.