Republic Financial Holdings Limited (RFHL) on Friday announced that it completed the acquisition of seven Scotiabank operations in the Caribbean yesterday.
Following receipt of approval from the Central Bank of Trinidad and Tobago, the Eastern Caribbean Central Bank and the Central Bank of Curacao and St. Maarten, and the execution of the Banking Business Vesting Orders in five of the Eastern Caribbean territories, RFHL said it had formally acquired Scotia’s operations in Anguilla, Dominica, Grenada, St. Kitts & Nevis, St. Lucia, St. Maarten, and St. Vincent & the Grenadines.
RFHL had been hoping to acquire Scotiabank’s operations in Guyana but this bid was rejected by the Bank of Guyana which cited a series of concerns. Antigua has also not concluded an agreement.