.png)
Scotibank BVI completes sale to Republic Financial Holdings
The sale comes after Scotiabank, Canada’s third-biggest lender, had announced it planned to exit nine countries in the Caribbean, including Antigua, St Kitts & Nevis, St Lucia, St Vincent & the Grenadines, Anguilla, Dominica, St Maarten and Grenada, by selling its operations to Republic Financial Holdings.
According to the bank in a release on the closure of the sale, "This transaction supports the Bank’s strategic decision to focus on operations across its international footprint, where it can achieve greater scale and deliver value for customers."
Sale across Caribbean
On October 31, 2019, Scotiabank completed the sale of its banking operations in Anguilla, Dominica, Grenada, St Kitts & Nevis, St Lucia, St Maarten and St Vincent & the Grenadines to Republic Bank.
The governments of Antigua and Barbuda along with Guyana; however, have resisted the sale of Scotiabank in their countries. The Bank of Guyana cited concerns about concentration and competition in denying Scotiabank permission to sell to Republic Holdings.
RFHL is the parent company of a leading financial institution based in Trinidad & Tobago with operations across the Caribbean and Africa.
.png)
Follow Us On
14 Responses to “Scotibank BVI completes sale to Republic Financial Holdings”
Who cares what you think? Under Scotia, this was the worst bank in the BVI. I'm sure it will be a vast improvement under its new owners.
Simpled minded fu***qq....
Dont let them fool you it appears that some body calculated the interest a second manually for that same 3 months period and add it to the loan again. Then tell you if you don't pay it, it will be added to loan at the end. Pure craziness 2 years plus and up to this moment not a word from them.
Here we are again at another cross road in this pandemic keep your eyes out people you may be in for a rude awakening. If you request the 3 months you still have to pay your interest it's not a free 3 months. Nothing will be going to the principle take note the interest will be running each month and if you dont pay it the system will continue to generate the interest amount. ask for a print out after you start back paying the first two months and you will notice all your monthly payment the full portion went to interest, depending on how big your mortgage is. Remember banks loan you the money they want to collect their interest first so most of your payments amount will go toward interest and a smaller percentage to the principle for the better part of the loan.
Its more at the ending years you will see more to the principle and less to interest. Scotia sells the bank they sold our unsolved issues also somebody have to give us a answer to our problems, questions and quarries. Time the Government stand up for its people you cant do business here unless you are transparent and accountable. Time our own bank here be placed as the leading financial institution. Not that they wont have problems but I think we will be more able to get information from them. The best is yet to come just a matter of time many will leave that bank watch you will see to much pressure on poor people. Scotia use to be one of the best banks now it's the worst. Sorry to say but it's the truth.