THREE MORE senior employees have been dismissed from the Grace-Kennedy-owned First Global Bank as the bank continues its investigations into trading irregularities there.

The three, who were employed in the bank's operations and settlements department, The Sunday Gleaner understands, were axed late last week.

Chairman of First Global, Douglas Orane, declined to comment on the new developments yesterday.

The dismissal of the three employees brings to four, the number of senior staff that have been fired by the bank since the investigations commenced August 24.

A senior employee of the bank's treasury department was sent home two Fridays ago.

The irregularities have since been reported to the police and the central bank.

Last Monday, First Global revealed that the irregularities were likely to lead to bond-trading losses of US$19 million ($1.68 billion).

The bank has maintained that its capitalisation remains sound, in spite of the irregular activities, saying that it would be able to meet the obligations of its clients.

Parent company GraceKennedy has said it would give the bank its full support. The bank is also receiving support from another of its shareholders, International Finance Corporation, a member of the World Bank Group.