BRADES, MONTSERRAT (July 11, 2025) – Bank of Montserrat Limited (BoML) has reported another year of strong financial performance for the fiscal year ended September 30, 2024, with continued profitability and steady growth across key metrics. At the 31st Annual General Meeting (AGM) held on July 10 at the Montserrat Cultural Centre, shareholders were presented with the Bank’s annual report themed “Shaping Tomorrow – Innovating and Strengthening for Sustainable Growth.”

BoML recorded a net profit before tax of EC$6.4 million, continuing the positive momentum from its record EC$6.8 million in 2023. Total income increased by 14% to EC$24.1 million, supported by a rise in interest income to EC$18 million and continued expansion of the Bank’s investment portfolio. The institution’s Capital Adequacy Ratio improved to 24.7%, significantly above the ECCB’s 8% benchmark.

Despite a slight rise in operating and impairment expenses linked to strategic investments, including the acquisition of its credit card portfolio, the Bank maintained an efficiency ratio of 65.3% and delivered a return on equity of 13.8%. Shareholders are set to receive a dividend of 37 cents per share, pending final approval.

Chairman Dalton A. Lee, who completed his tenure with the Bank at the AGM, reflected on seven years of growth and resilience: “Bank of Montserrat Limited has transformed into a stronger, more digitally capable institution, consistently delivering value for shareholders while supporting the island’s development.”

BoML also highlighted key achievements in digital transformation, including expanded mobile banking, point-of-sale terminals, and a new Mastercard cross-border solution. Looking ahead, the Bank will continue to focus on technology investment, ATM modernisation, and international transaction capability.

The complete 2024 Annual Report can be found on our Shareholder Relations page.