Directors’ Report Cont’d

Committee Assessments

All Committees apart from the newly formed Ad-hoc Investment Committee completed their annual Committee assessments in 2022. All assessments were submitted to the full Board for review.

DIRECTORS’ INTEREST

Directors’, Managing Director’s & Deputy Managing Director’s interests in the ordinary shares of BOSVG as at December 31, 2022 were as follows:

Director

Judith Veira

Maurice Edwards

Timothy Providence

Lennox Timm

Lennox Bowman

Medford Francis

Saibrina Brewster-Dickson

Rolf Phillips

Terral Mapp

Derry Williams

Bennie Stapleton

DIRECTORS’ REMUNERATION

During the Directors’ due diligence exercise, Director Judith Veira declared affiliation with Trinity Consulting Ltd (TCL), Cane Garden, St. Vincent of which she is an owner, director and employee. TCL performs periodic actuarial reviews for the staff pension plan most recently as at December 31, 2018. As needed, other pension consultancy services are provided.

The dollar value of the goods and services furnished during the 12 calendar months under review in connection with transaction between Bank of St. Vincent and the Grenadines Ltd. and Trinity Consulting was not material.

There was no contract of significance subsisting during or at the end of the financial year in which a Director was materially interested, directly or indirectly.

Directors are paid directors’ fees monthly along with payment for each Committee meeting attended. Total remuneration paid to directors for the 2022 financial year was $0.387 million.