RBC sells Eastern Caribbean banking operations

RBC sells Eastern Caribbean banking operations

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 closed today, Thursday April 1st. 

In a media release it says 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 ofMontserrat, and The Bank of Nevis.

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It says 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.

The release said 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.

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