ANSA Merchant Bank Limited announces proposed reorganisation of financial services businesses to strengthen governance, accelerate innovation and deliver a seamless banking experience. Banking Businesses to become centralised under a Financial Holding Company.
ANSA Merchant Bank Limited (AMBL) has announced a proposed reorganisation of its banking business, designed to create a stronger, more integrated platform for sustainable growth, innovation and customer service in Trinidad and Tobago, and across the region.
The proposal will bring together AMBL’s banking operations in Trinidad and Tobago under ANSA Bank Limited (ANSA Bank) and will also establish a dedicated financial holding company, which will have accountability for strategic oversight and governance across the Group’s banking, wealth management, insurance and regional operations.
Under the proposed structure, ANSA Bank will become the single licensed operating commercial bank within the ANSA McAL Group of Companies, bringing together ANSA Merchant Bank’s longstanding banking experience and customer relationships with ANSA Bank’s growing retail, commercial and digital capabilities. Under the proposed reorganisation, ANSA Merchant Bank Limited will transition into a financial holding company and be renamed ANSA Financial Holdings Limited (AFHL). ANSA Financial Holdings Limited will serve as the holding company for the Group’s principal financial services businesses, including ANSA Bank Limited, ANSA Wealth Management Limited, ANSA Financial Holdings (Barbados) Limited, as well as Trinidad and Tobago Insurance Limited and its subsidiaries.
For customers, the proposed structure is expected to support faster innovation, enhanced digital banking capabilities, greater convenience and access to the combined strengths of the Group’s banking expertise under a single operating commercial bank.
The reorganisation would progress the Group’s plans for modernisation and expansion of its banking services, while advancing its objectives to build and maintain leadership in both the domestic and regional financial services industry. The establishment of a centralised holding company is expected to strengthen governance and oversight and drive further discipline in the allocation of capital and resource management across the Group.
The proposed restructure will not impact the structure or operations of ANSA Wealth Management Limited, ANSA Financial Holdings (Barbados) Limited nor Trinidad and Tobago Insurance Limited or its subsidiaries; but will deliver broader capabilities, more seamless service and an enhanced banking experience for customers and clients.
The proposed transfer of AMBL’s banking business to ANSA Bank will be effected through a statutory vesting process, in accordance with applicable law and subject to the required approvals. This process is intended to support an orderly transition of the relevant banking business, assets, liabilities, rights, obligations and relationships, while maintaining continuity for customers, commercial partners and other stakeholders. No action is required from customers or commercial partners at this time.
The proposal remains subject to the required shareholder and regulatory approvals and other applicable conditions. Subject to receipt of all requisite approvals, the Company is targeting January 1, 2027, for implementation.
A. Norman Sabga, Chairman of ANSA Merchant Bank Limited, said:
“This is an important next step in the evolution of our financial services business. ANSA Merchant Bank has served its customers and contributed to Trinidad and Tobago’s financial landscape for almost five decades. The proposed structure builds on that strong foundation while positioning the Group to respond to a changing financial services environment and the evolving needs of our customers. We are proud of what we have achieved in the financial services sector, and deeply appreciative of the trust our customers have placed in us over the years. Our intention is to carry that experience, reputation and customer focus forward as we enter the next chapter of the business.”
Stephen Grell, Managing Director of ANSA Merchant Bank Limited, said:
“Bringing our banking businesses together will allow us to combine the strengths and capabilities of both organisations and operate as one stronger, more focused bank. For our customers, the opportunity is to build on the relationships and experience they value today, while continuing to enhance the range of products and services we offer, strengthen our digital capabilities and deliver a more seamless banking experience.”
The proposal remains subject to the required shareholder and regulatory approvals and other applicable conditions. Subject to receipt of all requisite approvals, the Company is targeting January 1, 2027, for implementation.
Further information will be provided to shareholders, customers and other stakeholders as the approval and implementation process progresses.