Wednesday, October 16, 2019

Saint Lucia To Approve Scotiabank Acquisition

Press Release:- The Monetary Council registered its no objection to the decision of the Eastern Caribbean Central Bank (ECCB) to approve the application for the transfer of the assets and liabilities of the Bank of Nova Scotia (BNS) to Republic Financial Holdings Limited (RFHL).

This decision was taken at its meeting convened on 6th September 2019.

As with most ECCB member countries, the Government of Saint Lucia (GOSL) will proceed to approve the requisite Banking Business Vesting Order for the RHFL to acquire the BNS’s operations in Saint Lucia.

To this end, the GOSL wishes to invite the public and/or private entities to consider the many investment opportunities, which may arise as a result of this transaction.

The GOSL will continue to monitor the process through the Department of Finance to ensure a smooth transfer of operations and urge all Saint Lucians to stay tuned to developments in the financial sector.

For further information please contact the Office of the Permanent Secretary in the Department of Finance at telephone numbers 468-5503/64.

2 COMMENTS

  1. In my repeated attempts to.open a bank account with Scotia Bank recently proved to be a most frustrating experience. Despite providing all the requisite information the goal post was moved each time. My initial attempt was at Vieux Fort, as it is my local branch, but on the day I visited, and queuing up for nearly an hour and needing to return to Castries one staff memver being aware of my intention, abd queuing fir nearly an hour, much to my dismay, I was informed that there was no one available for such a task and should return the following day. Even though I live abroad and funds would have been transferred from.well known UK banches, for money laundering purposes, I was refused on all occasions.. Given this proposed acquisition they wanted to avoid dealing with any banking formalities that could interfere with such acquisition and the whole process was dealt with unprofessional by management. I feel certain after acquisition is complete I would not have problems opening an account with the new owners. Disgusting.

  2. Smart white man leading a small black nation.Many blacks still don’t know their history.Your money still goes to the white man on your own land.This man it trying to make himself look good.Black people unit and stop fight each other when they’re trying.

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