The meeting brought together the company’s board of directors, shareholders, external auditors, and key stakeholders to review BOSL’s performance for the financial year ended December 31, 2024.

Chairman of the Board of Directors, Everistus Jn Marie, delivered opening remarks, reaffirming the Board’s commitment to national development through prudent financial stewardship.

“We are proud to be at the helm of this organisation. I know I speak for my directors and the management team when I say we do all we can to keep this company something that Saint Lucians can be very proud of. We are committed to ensuring that the Bank of Saint Lucia remains a force for good in the country.”

Managing Director Rolph Philips presented the bank’s financial highlights, reporting a strong year across all key indicators. “The bank ended the year with total assets of EC $3.6 billion, up from $3 billion in 2023. Customer deposits continue to expand and currently stand at $3 billion.”

Philips also noted that BOSL posted record earnings in 2024: “Our net profits for the year stood at $92.4 million, a record for the bank. Pre-tax profits were even more impressive, closing at $112 million.”

He emphasised the bank’s financial resilience and capacity for strategic expansion.

“Our capital adequacy ratio remains very strong at 20.5%. The regulatory benchmark is 8%, so we are well-positioned to take on additional credit lines and explore potential mergers and acquisitions.”

With another year of strong growth, BOSL officials say the institution is well-positioned to broaden its service offerings and support Saint Lucia’s evolving financial landscape.