The Caribbean Association of Banks’ Position on Republic Bank’s proposed buyout of Scotiabank’s Banking Operations

Tuesday December 11th, 2018: The Caribbean Association of Banks (CAB) has noted the concerns of the public and private sectors with respect to the proposed sale of Scotiabank’s banking operations in nine (9) Caribbean Countries to  Republic Financial Holding Limited (RFHL). While some of these concerns may be well founded, the CAB views this development as a positive opportunity for the Regional Financial Services Sector.

The Region has, in its history, experienced migration, acquisition and consolidation of both locally owned and international financial services companies. Despite these situations, the sector has continued to be stable, guaranteeing customers the same high standards of integrity and customer service they expect from their Banks.

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