Thursday, August 18, 2022

1st National Bank St Lucia Limited Finalises Acquisition of RBTT Bank Caribbean Limited

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The Eastern Caribbean Central Bank (ECCB) advises that effective 1 August, the operations of RBTT Bank Caribbean Limited in Saint Vincent and the Grenadines (RBTT SVG) will cease following 1st National Bank St Lucia Limited’s (1st National) acquisition of RBTT SVG.

As a result, RBTT Bank Caribbean Limited will become a branch of 1st National Bank St Lucia Limited as of Monday, 1 August.

The ECCB, in consultation with the ECCB Monetary Council, approved the application for the transfer of the assets and liabilities of RBTT SVG to 1st National on 22 December 2020, pursuant to Section 43 of the Banking Act, 2015.

In accordance with the approval, the ECCB issued an updated banking licence to 1st National. The Banking Business Vesting Order has been gazetted in Saint Vincent and the Grenadines.

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1st National’s acquisition of the assets and liabilities of RBTT SVG is the second phase in the acquisition of the RBTT Bank Caribbean Limited shareholding. On 1 April 2021, a consortium of banks acquired the shareholding of RBTT Bank Caribbean Limited under Phase I of the Royal Bank of Canada (RBC) acquisition.

The ECCB encourages citizens and residents in ECCB member countries to stay abreast of developments in the financial sector.

Source: Eastern Caribbean Central Bank

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Editorial Staff
Editorial Staff
Our Editorial Staff at St. Lucia Times is a team publishing news and other articles to over 200,000 regular monthly readers in Saint Lucia and in over 150 other countries worldwide.

7 COMMENTS

  1. Well what can say? We are in 2022 unfortunately for us in St Lucia and this part of the world we are not up to date with the digital technology over 50% of the things we stand in line for over an hour can be done on a smart phone on your divice at home. Anyone disagrees?

  2. to the manager and the supervisors of 1snt national bank in the new branch next to the library for goodness sake PUT SOME MORE TELLERS!!!!!!!!!!!!!! after they already slow people have to be dealing with two or one teller. Stop feeding people with this BS that there is lack of staff that is going on for donkey years. i not saying a day or two there wont be much tellers but go on the floor once in a while and see what is happening. people dont have to be standing on a line for so damn long man. Bank of saint lucia self from the day the month start till it end there is always a ridiculous line that does not move when you go there. its like as if people just suppose to accept yall sloppy service and not say nothing.

    • If you will observe … 99% of the time, it is CUSTOMERS who hold up the line, AND the tellers, with inadequate paperwork to make their transactions faster. The lines being slow, has nothing to do with “tellers being slow”, but with customers who have “issues”. I have witnessed this so many times: no passbook (hold up), inadequate paperwork (hold up), not knowing exactly what they want or what is expected of them (hold up), the customer has not filled in the deposit/withdrawal form properly (hold up), or they come with a bountiful of cash – which HAS to be counted (hold up), or sometimes the customer has more than one transaction to perform (hold up). *CUSTOMER INEFFICIENCY* is mostly the problem for lines moving slow. And don’t even mention that “the customer is always right!” That is BS, since the customer is the one who makes more mistakes while waiting for a trained professional to serve them.

      Be observant of, and learn NOT to become “a slow customer”.

      On a positive note: Congratulations to FNB for their trailblazing efforts – reaching far and wide.

      • bro dont come and tell me your crap ok, if there are sufficient tellers to deal with people the line will move smoothly and everyone knows that. dont tell me because of these excuses you giving it is a legitimate reason for people to be standing on a line at a bank for two to three hours. people like you that will just sit there and take whatever they feed you and eat it and it suppose to be ok. When there are enough tellers and the lines are long they move, when there are insufficient tellers and especially to deal with customers who “hold up the line” as you say the line is stagnant

        So you trying and tell me if a job takes less time to complete when there are enough people to complete it rather than there are less people where it would take longer you saying that there having less people to complete the job is practicable? Now i know you going to come back there and i dont have to respond to your papisho thats your business if pee falling in your eye and calling it rain.. Banks PUT MORE TELLERS to serve more people so the lines can at least move with some pace

      • First, congratulations to the 1st. National Bank, having started so small and now expanding even to other territories.
        This joker, @ ma malay, does not care enough to even check before posting nonsense. This bank that he or she refers to is in fact the fastest moving bank and thois has been so for a long time. I have account with other banks and the reason this was my primary bank from RBTT to RBC to 1st National is because and is the bank you get the fastest transactions done.
        So @ma malay, tee yea cour la. I vooom.

      • @Ma Malay … your axe is not sharp enough to grind out a complaint! If you have problems with said bank – LEAVE!! There are others who will gladly take your business. Good luck on that.

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