Profitability

EG: In what ways has the banking sector in Antigua & Barbuda remained resilient when compared with other major international banking jurisdictions? 

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Brian Stuart Young: Our banking sector has remained resilient due to its strong regulatory framework and compliance with the ever-evolving international banking requirements, including compliance with the OECD, FATCA and the Financial Action Task Force (FATF) regulations to prevent money laundering and the financing of terrorism. Within our compliant environment, we offer a premium banking experience, with services that are tailor-made to suit our clients’ goals and aspirations for their businesses and families, generation after generation.  

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EG: What benefits does being a one-stop shop for complex investments, savings, CDs, and cash management provide to clients in other markets?
 

BSY: As you cross the stepping stones of life, we evolve with you step by step, providing dedicated service to meet your changing lifestyle and financial needs, actively partnering with our clients and introducing solutions to support client investments, cash management, savings and security needs which work to ensure your financial plans are met. We are located in Antigua, but our services are accessible world-wide, available with your fingertips.
 

EG: Tell us how your wealth management and succession planning provision may benefit High Net Worth Individuals?  

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BSY: As a 36 year old institution, we understand the demands of HNW clients and the importance of succession planning. Indeed, we are already serving second generation banking clients and planning for the third generation. We understand the busy lives of our clients and work to provide the convenience they deserve to manage their financial affairs. We are here for them and their families. 

EG: What typical procedures would affluent clients follow in the opening of a private trust or foundation based in Antigua & Barbuda? 

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BSY: We provide well-tailored boarding services in the priority banking executive lounges at our Head Office, and our comprehensive banking experience is ready to support clients needing corporate, trust or foundation services, which are focused on helping you manage your wealth. We are also able to assist international clients interested in expanding their portfolio to include second citizenship, and a second home. Antigua and Barbuda’s Citizenship by Investment Programme is available to duly qualified and approved applicants. A dedicated relationship manager, supported by a team of corporate service specialists, can offer personalised wealth solutions that match your investment goals.
 

EG: Are there any ways in which Antigua & Barbuda may benefit where the introduction of Basel III requirements may be a hinderance in other jurisdictions? 

BSY: Our Jurisdiction is compliant with current international regulatory standards, and our Bank already meets Basel III’s Guidelines that refer to its three pillars: a minimum capital adequacy ratio requirement of 8% in relation to its risk-weighted assets; a comprehensive supervisory review process; and market discipline. It is our Bank’s role to remove any obstacles, increase security, and ensure our clients achieve the banking relationship they deserve.

EG: And what benefits may your advisory capacity as an international banking institution yield to an investor’s internationally diversified portfolio?   

BSY: Our institution maintains relationships with some of the finest and most trusted investment advisors worldwide, and is well-positioned to provide confidential and convenient portfolio management services.  

EG: What future prospects do you see for Antigua & Barbuda as an international financial centre? 

BSY: The role of a traditional international financial centre has had to change and, in our case in Antigua, we have broadened our business model to provide a balance of strong wholesale banking services in the domestic market, and a significant international banking division providing premium banking services to higher net worth local and international clients, leveraging on our global relationships, technology capabilities and pool of experts.

EG: In your experience as a banker, what is the ultimate key to profitability? 

BSY:  The real key to profitability in the banking sector is to focus less on profitable margins and more on serving valued banking relationships. Our Priority Banking Service is a relationship that comes with our commitment to partner you, your family and your business, today and tomorrow.   EG