Scotiabank Selling off Banks in the Caribbean

Scotiabank is shutting shop in parts of the Caribbean, entering an agreement with a Trinidad-based leading financial group to take over its banking operations in nine “non-core markets” in the region.

It was announced today that, subject to regulatory approvals and customary closing conditions, Republic Financial Holdings Limited (RFHL) will purchase Scotiabank’s banking operations in Anguilla, Antigua and Barbuda, Dominica, Grenada, Guyana, St Kitts and Nevis, St Lucia, St Maarten, and St Vincent and the Grenadines for US$123 million.

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