By Val Matthias. Updated 12:19 p.m., Friday, November 13, 2026, Atlantic Standard Time (GMT-4).
Governor of the Eastern Caribbean Central Bank (ECCB), Timothy N. J. Antoine, is challenging commercial banks and other financial institutions across the Eastern Caribbean Currency Union (ECCU) to expand lending to creditworthy borrowers while improving transparency and fairness in their dealings with customers.
Antoine says financial institutions must do more to ensure that businesses and individuals with the capacity to repay loans are not overlooked, while customers must be treated with integrity, dignity and respect.
Addressing the 8th Annual Conference with Licensed Financial Institutions at the ECCB Headquarters in St. Kitts and Nevis on Thursday, November 12, the Governor questioned how effectively banks were converting people’s savings into productive investments.
He disclosed that the ECCU banking system held EC$1.5 billion in excess liquidity as atSeptember 30, 2026, but noted that business lending had grown by only approximately 0.5 per cent annually since 2000.
Antoine argued that such a rate of credit growth was inadequate to support the region’s economic ambitions, particularly the ECCB’s Big Push initiative, which aims to double the size of ECCU economies over the next decade.
He urged financial institutions to lend more, particularly to creditworthy borrowers who may currently be overlooked, and to make greater use of existing mechanisms designed to reduce lending risks.
Among these is the Eastern Caribbean Partial Credit Guarantee Corporation, which has issued 364 guarantees valued at EC$37.1 million over the past six years.
The facility is intended to help businesses access financing by providing guarantees that reduce the risks faced by lending institutions.
The Governor also highlighted the importance of the regional credit bureau in improving lending decisions. He reported that 22 of the 23 banks and 15 of the 64 credit unions had been onboarded, with the onboarding of the remaining providers targeted for completion in the first quarter of 2027.
Antoine said credit reports should become part of every lending decision, helping financial institutions make better-informed assessments of borrowers.
Beyond access to financing, the Governor placed particular emphasis on fairness in the relationship between financial institutions and their customers.
He described trust as the most important asset of any financial institution and said it must be earned and maintained through responsible customer relations.
While acknowledging that customers have a responsibility to honour their financial obligations and understand their rights and responsibilities, Antoine said banks must also be transparent about the fees they charge, provide clear terms and conditions, and respond appropriately when things go wrong.
He stressed that fairness must apply to both sides of the banking relationship.
The Governor also raised concerns about the growing use of artificial intelligence in financial services, particularly in fraud detection, customer service and credit assessments.
While welcoming the use of the technology, he cautioned that decisions were not automatically fair simply because they were made by machines.
He called on financial institutions to test their artificial intelligence systems for bias, ensure decisions could be explained to customers and maintain human accountability for every outcome.
He further said customers should be informed when they are interacting with artificial intelligence and provided with a way to reach a human representative.
Antoine’s address was delivered under the conference theme, “Open, Fair and Competitive: Empowering the ECCU Financial Sector to Propel the Big Push.”
He challenged financial institutions to recognise that their long-term growth is tied to the economies they serve, arguing that stronger businesses, increased investment and wider access to financing would create greater opportunities for the financial sector and the wider region.
The Eastern Caribbean Central Bank is the monetary authority for the eight member territories of the Eastern Caribbean Currency Union. Established in 1983, the ECCB is responsible for maintaining the stability of the Eastern Caribbean dollar, regulating and supervising the banking system, and supporting the economic development of its member countries. Its member territories include St. Vincent and the Grenadines, Grenada, Dominica, St. Lucia, Antigua and Barbuda, St. Kitts and Nevis, Anguilla and Montserrat.
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About the Author: This story was written and submitted by freelance journalist Mr. Val Matthias, a trained communicator with more than two decades in the media sector. He holds a Bachelor of Arts in Media and Communication (UWI Mona), a Master of Science in Tourism and Hospitality Management (UWI Cave Hill), a Certificate in Digital Marketing, and has years of broadcast journalism experience rising to ranks of a programme manager. All supporting materials for this story have been presented, vetted, and verified. Mr Matthias can be reached at valmatthias188@gmail.com
