Hermes Bank Liquidation: What Happened in Saint Lucia?

Hermes Bank in Saint Lucia entered receivership in February 2025 and subsequently moved into liquidation. Its international banking license was revoked effective January 6, 2026.

Receivership means an appointed receiver takes control of the bank’s affairs to protect its assets and assess what happens next.

The proceedings leave former customers facing questions about creditor claims and the recovery of their deposits. The bank’s reported closure dates to 2025, with license revocation following in 2026.

If you were a Hermes Bank customer and would like to hear my thoughts on these developments or review your offshore banking arrangements, email hello@adamfayed.com and WhatsApp ‪+44-7393-450-837.

What happened to Hermes Bank?

Hermes Bank moved from receivership into reported compulsory liquidation, followed by the revocation of its international banking license.

The receivership notice published in Saint Lucia’s Government Gazette confirms that the bank was placed under receivership under Section 28 of the International Banks Act.

Receivership commenced on February 10, 2025. The notice named Cathy Bonnet of PKF Professional Services Inc. as receiver.

A subsequent revocation notice confirms that the Financial Services Regulatory Authority revoked Hermes Bank’s international banking license effective January 6, 2026.

The notice cites Section 20 of the International Banks Act and the statutory ground that the licensee has entered liquidation, been wound up or otherwise dissolved.

It does not specify the date liquidation began or provide a detailed account of the circumstances leading to receivership.

What does Hermes Bank’s liquidation mean for customers?

Liquidation means customers’ deposits become claims to be settled through the winding-up process, with repayment depending on available assets and the legal order of payment.

A liquidator collects and sells the bank’s assets, assesses creditor claims and distributes available funds. Customers may face a delay in accessing their money and could receive less than their full balance.

Saint Lucia’s International Banks Act sets an order for paying claims in compulsory liquidation. Where funds are insufficient to pay a particular creditor class in full, the available amount is shared proportionately among creditors in that class.

Liquidation does not automatically mean all deposits are lost, but it does not guarantee full repayment either.

For Hermes Bank customers, the practical priority is to confirm who currently handles creditor claims, as well as whether a claim must be submitted and any deadline applies.

Customers who have already submitted documents should seek confirmation of receipt and ask if further evidence is required.

Keep account statements, transfer confirmations and correspondence showing the balance owed. If the account held money needed for living expenses or business payments, plan around the possibility that recovery could take time.

The official Hermes Bank notices reviewed do not provide a repayment percentage or distribution timetable.

Any expected payment should be based on an update from the officeholder responsible for the proceedings.