Global Bank of Commerce responds to reports that it is being sued for failure to pay customer its deposit

The attention of the Board of Directors and Management of Global Bank of Commerce Ltd. (“the Bank”) has been drawn to an article and related reports in a local online news portal, and subsequent public remarks, concerning a legal matter between the Bank and one of its customers.

While the matter is before the Eastern Caribbean Supreme Court and is therefore, sub judice, we wish to assure the public that the integrity of our institution and its 40-year long-standing participation and contribution to the international banking sector remain fully intact and in good standing, as regulated by the Financial Services Regulatory Commission (FSRC).

We confirm that our Bank is managed and operated independent of any local domestic commercial bank in Antigua and Barbuda, and any public assertions to the contrary is misleading and incorrect. We further confirm that no domestic commercial bank in the state of Antigua and Barbuda is connected in any way to the above referenced legal matter.

To our valued and loyal clients, we regret any inconveniences caused by the precipitous dissemination of information in respect of the above referenced matter, and provide our assurances that the Bank continues to operate in the normal course of business.

Board of Directors and Management Global Bank of Commerce, Ltd.