ECFH Holds its 9th Annual General Meeting

June7th 2010 

The East Caribbean Financial Holding Company (ECFH) held its ninth Annual General Meeting on Wednesday, June 2nd at the conference room of the National Insurance Corporation (NIC). As is customary, the aim of the meeting was, among other things, to receive the company’s audited financial statements for 2009, and to give shareholders an opportunity to have their questions or concerns addressed by the board of directors. The meeting was well attended with approximately 130 shareholders present. There was much participation and discussion, and shareholders were assured that the company’s performance was a creditable one in a most trying economic period.

The Group achieved profit before tax of $40 million, while profit after tax was recorded at $26 million while its asset base grew by $127 million to $2.2 billion. All the Group’s subsidiaries recorded a profit for 2009 and shareholders’ equity actually increased by 3% with the ECFH share price recorded at $14.95 at the end of 2009. The board informed shareholders that the investment climate globally and otherwise, is still a very challenging one. However, prudent management strategies have proven to be effective in ensuring that the Group remains the largest financial institution listed on the Eastern Caribbean Securities Exchange (ECSE).

For the 2009 financial year, shareholders will receive a final dividend payout on record as at May 3, 2010 of twenty five cents ($0.25) per common share, resulting in a total dividend payout of fifty cents ($0.50) per share for 2009.

Contact: Corporate Communications
457 7259