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Bank Sells USD EUR GBP CHF CAD
USD 1.0000 0,0000 0,0000 0,0000 0,0000
EUR 0,0000 1.0000 0,0000 0,0000 0,0000
GBP 0,0000 0,0000 1.0000 0,0000 0,0000
CHF 0,0000 0,0000 0,0000 1.0000 0,0000
CAD 0,0000 0,0000 0,0000 0,0000 1.0000


Bank Buys USD EUR GBP CHF CAD
USD 1.0000 0,0000 0,0000 0,0000 0,0000
EUR 0,0000 1.0000 0,0000 0,0000 0,0000
GBP 0,0000 0,0000 1.0000 0,0000 0,0000
CHF 0,0000 0,0000 0,0000 1.0000 0,0000
CAD 0,0000 0,0000 0,0000 0,0000 1.0000

ANNOUNCEMENT

Notice of Appointment of Liquidators: Loyal Bank (“In Liquidation”)

By Court order dated 24 August 2018 of the High Court of Justice of Saint Vincent and the Grenadines, under the provisions of the International Business Companies Act Chapter 149 of the Revised Laws of Saint Vincent and the Grenadines 2009 (hereinafter referred to as “the Order”), Mr. lkins Clarke and Ms. Joan “Betty” Brathwaite, both of Deloitte & Touche, located in The Goddard Building, Haggatt Hall, St Michael, Barbados, were appointed as Joint Liquidators of Loyal Bank Limited (the “Bank”).

Additionally, in accordance with the terms of the Order, Mr. Raymond Haynes, Mr. Darren Reeds and Ms. Tiphaney Russel, have been duly appointed as agents of the Joint Liquidators with full authority to act on behalf of the Joint Liquidators. As agents, they are also empowered to take full action and control of Loyal Bank Limited and its assets and properties, including its known subsidiaries.

As a result of the aforementioned, Ikins Clarke and Betty Brathwaite and their agents are the only individuals authorized to represent the Bank or conduct business on the Bank's behalf and are duly authorized to liaise with all stakeholders regarding this matter.

The Joint Liquidators will be taking steps to realise the Bank's assets and assess its liabilities. Updates and notices on this process will be posted on the Bank's website or will be sent in secure communication to the Bank's stakeholders as required. Please be mindful of any unsolicited emails or calls.

Stakeholder queries can be directed to: loyalbankliquidation@deloitte.com

Ikins D. Clarke Betty Brathwaite
Joint Liquidator Joint Liquidator
For and on behalf of For and on behalf of
Loyal Bank Limited (“In Liquidation”) Loyal Bank Limited (“In Liquidation”)



Dear Clients,

We would like to inform you that following the issuance of a Cease and Desist Order earlier last week, the Financial Services Authority of Saint Vincent and the Grenadines revoked the Bank's licence as of 8th of August, 2018, and decided to start the legal process of appointing a liquidator to take over the Bank's assets.

We will keep you updated about the proceedings as soon as further information will be available to us.


Best Regards,

LOYAL BANK LIMITED


Dear Clients,

Following the operational issues announced earlier, Loyal Bank Limited has received a Cease and Desist Order from the Financial Services Authority of Saint Vincent and the Grenadines (FSA) on the August 3rd, 2018.

According to the directives, Loyal Bank is ordered to immediately cease all transactions which includes the receipt of new deposits, execution of outgoing wire transfers and engaging in any other banking transactions.

As such, the Bank is no longer authorized to carry out any usual business transactions except when approved by the Authority.

Loyal Bank is awaiting further instructions from the FSA. We will continue to provide updates when information becomes available.


Best Regards,

LOYAL BANK LIMITED


Dear Client,

We regret to inform you that due to some recent unexpected changes in our correspondent bank structure, Loyal Bank will not process new outgoing, incoming and in-house wires effective from the 28th of July, 2018, until further notice. Any wire transfer requests and incoming wires before this date will be processed provided that it is technically feasible.

We would like to ask you not to submit any transfer requests in our NetBank and not to send funds to your Loyal Bank account until further advised. Please note that any wire request will be automatically canceled internally and transfers sent to Loyal Bank will be returned.

The deposited balances will remain unchanged (and can always be checked in the Netbank) and the monthly maintenance fees and charges will not be collected effective August, 2018 until further notice.

We will continue to provide updates as information becomes available to us.

Thank you very much for your patience and understanding.


Best Regards,

LOYAL BANK LIMITED


Announcement about the new regulations imposed on Loyal Bank Limited by Mastercard and the regulatory authorities

Dear Clients,

We would like to inform you that all Mastercard and Mastercard Platinum debit cards linked to corporate and private accounts with Loyal Bank Limited are suspended in accordance with the directives received from Mastercard International. This suspension applies on the payroll cards only after the 16th of April, 2018

The Bank is in continous discussions with Mastercard in order to reach an agreeement to resolve the situation.

This current events also affect the Bank's existing relationship with its intermediary partners. At the same time, according to the directives from our regulatory authorities, our outgoing transfers are subject to enhanced due-diligence review which may result that some transactions will be refused or considerably delayed.

These measures are taken due to the ongoing process against Beaufort Securities where Loyal Bank has been indicted, however we are convinced that the Bank has not been involved in any intentional wrongdoing, and we hope that the current suspension of our services is only a temporary measure until the legal procedures are closed.

We are asking for your patience and regular updates will be announced on our website.


Best Regards,

LOYAL BANK LIMITED


Statement on the involvement of Loyal Bank in the current case against Beaufort Securities, London.

Dear Clients,

The Management of Loyal Bank Limited was informed about the case on the 3rd of March, 2018. We started our internal investigation immediately and took the neccessary measures as well. The Bank is fully cooperative with all authorities involved in the process. The Bank’s everyday operations are not effected.

WARNING OF FAKED SKYPE OR EMAIL ADDRESSES

Dear Clients,

We have recently become aware of an imposter Skype chat address created by fraudsters that deliberately closely resembled our genuine Skype address. We have now had this imposter Skype address disabled Loyal Bank does not contact its clients via Skype chat or any other similar chat rooms. Any contact received which promises financial advantage or attempts to conclude a transaction or issue instructions on behalf of Loyal Bank Limited via such channels is a fraud attempt by a third party. Please do not follow the instructions given and do not respond, but report the matter to us. Loyal Bank’s Customer Service team communicates via phone and email channels exclusively. Our email tickets are only sent out from customerservice@loyalbank.com and always have an exact date stamp in the ticket number. If you receive information which promises financial advantage or attempts to conclude a transaction or issue instructions on behalf of Loyal Bank Limited via any other email address, please do not follow the instructions given and do not respond, but report the matter to us. The Bank will not take any responsibility for any losses which may occur as a result of any exchange of information, cooperation of any other type of collaboration with spoofed or fraudulent Skype or email addresses.
Best Regards,
LOYAL BANK LIMITED

SKYPE

Dear Clients,

Please be advised that Loyal Bank Limited is not in the practice of contacting clients via Skype chat or any other similar chat rooms. Any contact which promises financial advantage or attempts to conclude a transaction on behalf of Loyal Bank Limited via such channels is a fraud attempt by a third party. The Bank will not take any responsibility for any losses which may occur as a result of the cooperation. Please note, that Loyal Bank’s Customer Service communicates via phone and email channels exclusively. Our email tickets are sent out from customerservice@loyalbank.com and always have an exact date stamp in the ticket number.
Kind Regards,
Loyal Bank Limited