The transaction closed on April 1st
Canadian bank sold its Eastern Caribbean banking operations. Source: shutterstock.com
Royal Bank of Canada 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 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.
RBC sold 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.
RBC’s Caribbean presence 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.
We’ve reported that the Royal Bank of Canada introduced a new initiative for Black entrepreneurs.
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