RBC

Today, Royal Bank of Canada announced that it has received the required approvals from local governments and from the Eastern Caribbean Central Bank for the sale of its Eastern Caribbean banking operations.

The transaction closes today.

This sale has RBC selling its Eastern Caribbean banking operations to a consortium of regional banks comprised of 1st National Bank of St. Lucia, Antigua Commercial Bank, Bank of Dominica, Bank of Montserrat, and The Bank of Nevis.

The sale includes RBC’s 11 branches in Antigua and Barbuda, Dominica, Grenada, Montserrat, St. Kitts and Nevis, St. Lucia, and St. Vincent and the Grenadines.

“This transaction will allow RBC to align investments and resources into markets where our vision for being the Caribbean’s digitally-enabled relationship bank can be executed most-successfully,” said Rob Johnston, Head of Caribbean Banking. “The sale of our Eastern Caribbean banking operations to indigenous banks is also a critical step forward in strengthening the domestic financial services sectors in each of the countries and territories involved. This will help create a stronger climate for further growth, development, and prosperity.”

Upon closing this transaction, RBC’s Caribbean presence – supported by 3,000 employees – will include 41 branches and offices across Aruba, The Bahamas, Barbados, Bonaire, the Cayman Islands, Curaçao, Saba, Sint Maarten, Trinidad and Tobago, and the Turks and Caicos Islands.

RECOMMENDED FOR YOU

The South West Regional Health Authority (SWRHA) is to hold a meeting with the family of Ijaz Haniff, the 60-year-old man who died after suffering a blood clot and paraly­sis days after he took the AstraZeneca Covid-19 vaccine.

The Muslim population is being urged to follow all Covid-19 protocols as they observe the month of Ramadan and prepare for Eid celebrations.

Director of Veterinary Public Health Dr Saed Rahaman made the call yesterday, as he noted Eid celebrations have been impacted by the pandemic for a second year.

The death of Energy Minister Franklin Khan will cause Prime Minister Dr Keith Rowley, currently in quarantine, to make his first Cabinet adjustment since the commencement of this term. 

MINISTER OF Energy, Franklin Khan, who died yesterday, is being remembered as a champion of the local energy industry who dedicated much of his working life to the development of T&T’s natural resources for the benefit of its citizens.

Dr Ralph Gonsalves cried openly and unashamedly on April 9 when La Soufriere blew its overheated top, presenting a world of challenges for the leader and country of 110,000 people.