Loyal Group
Latest news and updates regarding our Group
Thursday 2 January 2014
Tuesday 10 December 2013
Wednesday 16 October 2013
Loyal Bank funds the renovation of the Calvin Nichols Wildlife Aviary Complex in St. Vincent: officially opened on 4th October 2013
After three years of careful
preparations the renovation and reconstruction works at the Calvin Nichols
Wildlife Aviary Complex, located within the Botanical Gardens in Kingstown, St.
Vincent, have been completed well in time for the upcoming cruise line tourist
season that runs from October to April each year. The Botanical Gardens in
Kingstown, established in 1767, are one of the oldest public gardens in the
Caribbean and are popular with tourists and locals alike: the aviary houses several
specimens of the colourful, noisy and unique St. Vincent parrot, pictured below, which is highly endangered and of which only around 700 birds remain.
The parrot is only found on the island of St. Vincent and an image appears on
one side of Loyal Bank’s EUR Cirrus / Maestro Bankcard.
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The St. Vincent parrot |
This project was entirely funded by
Loyal Bank Limited at no cost to the taxpayer, and our contribution is attested
by a memorial plaque at the main entrance. As part of this project:
- Cages were repainted and repaired
- Dilapidated doors were replaced by long lasting and maintenance – free doors and gates made of heavy duty aluminium and greenheart, a very strong wood similar to mahogany with an inbuilt resistance to insect attack
- Two new visitors viewing benches were built of concrete and greenheart wood
- Unsafe walls and railings were renewed and extended
- Worn paving was replaced
Loyal Bank has been a dedicated
supporter of social and environment protection projects in St. Vincent since
our opening in 1997. Over the years the Bank has donated funds on numerous
occasions for one-time charitable events as well as on-going projects. The
renovation of the Aviary Complex is part of the bank’s on-going support for
community – focused projects in St. Vincent that benefit society and the
environment.
The official handing-over ceremony
and unveiling the plaque took place on the 4th of October, 2013 in the
presence of representatives of the authorities in charge, Loyal Bank and the
local TV, radio and print media. Stephen Kostyal, Chairman of Loyal Bank formally
declared the facility open and Agnes Varga, Chief Operating Officer SVG and
Adrian Baron, CEO, where also there from the Bank. The authorities were
represented by Senior Forestry Supervisor, Mr. Cornelius Richards and Director
of Forestry, Mr. Fitzgerald Providence. Mr. Andrew Wilson, Director of National
Parks, Rivers and Beaches Authority as well as Mr. Gordon Shallow, Curator of
the Botanical Gardens also passed their remarks at the handing-over ceremony.
For more on the history of the
Botanical Gardens please visit:
Wednesday 10 July 2013
Loyal Funds - New Website Launched
Loyal Group
arrived to another milestone on the way of modernising and unifying the look of
our sub-brands. After the Loyal Group and Loyal Agency and Trust Corp. sites,
we would like to introduce the new website of Loyal Funds, www.loyal-funds.com.
Loyal Funds offer optimal wealth
management services for customers targeting higher returns on their mid and
long term financial assets than deposit. They consist of a series of mutual
funds, offering simple access to the best and safest institutional investment
products of major asset management brands globally. These unique wealth
management services combine global diversification, reliable partner
institutions, long combined past performance together with Loyal Bank’s legal
setup, Internet Bank and 16 language customer services.
Loyal Funds offer a number of
attractive benefits to our clients:
- Easy access to the best institutional investment offers globally
- High potential – still conservative and secure investment
- Strong track record of underlying investments – even under “shocks”
- Flexible investment period, weekly liquidity
- Simple access through Loyal Bank Internet Bank
- Highly regulated structure
- Multilingual client support in 16 languages
No matter
if you are a newcomer or an experienced investor, you can find an investment
how-to on the new website with all the necessary information and rules of
investing with Loyal Funds. There’re
detailed introductions to the two main investment offers, the Loyal All Weather
Fund and Loyal Global Opportunities Fund with the frequently updated NAV/share
figures. You can also find answers to the most popular questions related to our
funds like ‘Why use a multi approach?’ or “What protects the portfolio?”
We enlisted
all the benefits we offer for investors to help you make the best decision that
is: investing with Loyal Funds!
Visit www.loyal-funds.com today and do not forget to tell us your opinion either here as a
comment or on the website itself. Your feedback is always much appreciated!
Tuesday 28 May 2013
Will gold fall further? Five reasons why it will.
April was
the month when gold prices drop to two-year lows in a pullback that raised
questions over the metal's safe-haven status but also offered an opportunity to
buy into the market at lower levels. As a justification of the latter, Russia,
Kazakhstan and Azerbaijan increased their gold holdings last month by a
cumulative 75% more than they did in March, according to the monthly gold
buying report of the International Monetary Fund. The report represents the
activities of most central banks and it is a good reference point to gold
investors.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgltj8bzD-pJR6sft2NT_3lotf3R8w0nfge3wys8DdulXGE9ejd114rd9wrExe7CPJqPP5nyifTqWOtJFVvVOW1JzUL0XNlOYSycMfO0x86sZcLgjYuyFH72nt8ckR0IA8jrWpnUWkB1Nv9/s320/shutterstock_100925701.jpg)
Gold prices
shed as much as 17% in April and ended the month 7.5% lower. It is currently trading
around $1,390 an ounce, down almost 12% since the start of the year. Could
central bank buying help to recover faith in gold? The Wall Street Journal’s
Money Beat blog enlists 5 reasons why gold may fall further:
1. The U.S. Federal Reserve could cut stimulus sooner rather than
later. Money printing by the Fed has been a major support to gold
prices in recent years, reflecting the metal’s traditional appeal as a hedge
against currency weakness and inflation at times of heightened liquidity.
However, the Fed is now looking at dialing that program back.
“The ever louder discussion at the Fed of tapering back or even ending
quantitative easing has undermined gold’s appeal as protection against high
inflation,” said Macquarie precious metals analyst Matthew Turner.
2. Investor sentiment is poor. A survey by Credit Suisse
based on responses from a poll of around 185 Credit Suisse clients, showed that
60% of investors named gold as the commodity with the worst forecast when
compared with copper, crude oil and corn. More than half of respondents expect
gold to trade below $1,400 per ounce in a year’s time. Gold currently trades at
around $1,380/oz.
Credit Suisse analysts are even more bearish, with head of global
commodities research Ric Deverell predicting the price could even fall below
$1,000 within five years: “The next big level is going to be about $1,305 per
ounce. I expect that it will get to this point quite quickly, I wouldn’t be
surprised if this was in the next couple of weeks.”
3. The U.S. dollar is strong. The greenback has been on
the rampage in recent weeks, climbing against a batch of other currencies
amid signs that the U.S. economy is recovering and amid expectations that the
Fed’s QE may soon come to an end. Since gold is priced in dollars, a
strong greenback dampens its appeal to other currency-holders.
“The U.S. Dollar has really reigned supreme over the course of the past
week,” said independent markets commentator Dennis Gartman. “It shall continue
to do so as we move forward.”
4. Indian gold demand faces risks. India is traditionally
world’s biggest consumer of gold, accounting for over a third of global demand
last year. When gold prices slide, subsequent appetite for the metal by
price-sensitive Indian buyers often lends a measure of stability to prices, as
was the case after gold’s dramatic tumble last month to a more than two-year
low at $1,321.50 an ounce. This time around, Indian gold investors may not be
so willing to buy, however, said Georgette Boele, an analyst at ABN Amro.
Indian gold demand is seasonal, and the timing of last month’s price
drop—just weeks before the Akshaya Tritiya festival on May 13, which is
considered one of the most auspicious day to buy gold in the Hindu
calendar—boosted India’s demand for gold, noted Ms. Boele.
“As this day is now behind us, demand for gold for wedding ceremonies will
ease,” said Ms. Boele. “The next important auspicious days are Vijaya Dashami
on October 13, Diwali Night on November 2 of the five-day festival of light,
Diwali, and Gudi Pavda, or New Year’s day of the Hindu calendar, on March 31.”
That of course could be a case for the bulls come Fall.
5. Further ETF holdings could still be sold. A major
factor in gold’s recent price weakness has been the liquidation of gold-backed
exchange-traded funds. According to the World Gold Council, a trade group for
gold miners, investor demand for gold fell by 49% year-on-year in the
first quarter, largely driven by 177-ton drop gold ETF holdings.
There still remains a large overhang of gold tied up in exchange-traded
funds, however, noted ABN Amro. According to the bank, more than 71 million
ounces are still held in gold ETF positions, meaning that further liquidation
could continue.
“The lower the gold price, the more nervous investors holding these
positions will become,” said ABN Amro analyst Georgette Boele.
Thursday 16 May 2013
The Advantages of Opening a Multi-Currency Account at Loyal Bank
The
multicurrency account was not deliberately designed to be a sophisticated
financial instrument. It developed accidentally in smaller European countries
like Switzerland, Luxembourg and Andorra where individuals commonly needed bank
checking accounts in various currencies. This had been especially true before
the euro was introduced when Europeans did business in many different national
currencies.
Anyone
interested in currency diversification should consider opening a multicurrency
bank account, which is one of the most simple and convenient solutions for
diversifying out of the dollar or euro.
A
multi-currency account is a simple a bank account, with a single account
number, in which you can hold balances in various different currencies. Loyal
Bank offers you multicurrency accounts in a wide range of currencies: GBP, CHF,
JPY, CNY, CZK, CAD and AUD are available to your EUR or USD main account. When you log in to your NetBank, you see a
summary screen showing your balances in all currencies.
Advantages
to this are numerous:
First of
all, it is clearly a very convenient tool for anyone who is serious about
diversifying currency risk. Instead of having lots of different account numbers
and logins probably at different banks, you keep everything on one convenient
screen. At any time you can easily exchange your balance in one currency for
another currency.
You can
transfer money in different currencies without the need for currency
conversions. This type of account is therefore ideal if you often send
and receive money internationally in the form of dividend payments, commissions
or transfers related to an overseas property.
You can
have Cirrus/ Maestro, MasterCard and Platinum Card bankcards linked to your
main multi-currency account that can be denominated either in EUR or USD.
Multicurrency
accounts are a safe way to hedge against currency risks or make profits with
fluctuations as you cannot count on so much potential profit but there is also
less potential for loss. This is an easy version of forex trading for people
who don’t want check currency rates frequently.
One of the
greatest advantages of having a Loyal Bank multicurrency account, besides the
currency diversification, is privacy. Privacy is a basic human right, which is
unfortunately disappearing fast when it comes to financial services. Loyal
Bank, incorporated in St Vincent and the Grenadines, ensures that the up-to-date
laws of SVG guarantee proper preservation of confidential relationships in
financial services.
Opening a
multicurrency bank account at Loyal Bank enables you to take advantages of our
various financial services like the Corporate Payment System, investment trading, precious metal purchase, investment funds too.
To get to
know more about our multicurrency accounts, please visit our website at
www.loyalbank.com!
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