Category: News

PROVEN Proposes to Acquire Fidelity Bank (Cayman) Limited

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PROVEN Investments Limited (PROVEN) is pleased to announce that it has entered into a share purchase agreement with Fidelity Bank & Trust International Limited, a company incorporated in the Commonwealth of The Bahamas, to acquire the entire issued share capital (the Shares) of Fidelity Bank (Cayman) Limited (FBC), conditional on receiving approval by the Cayman Islands Monetary Authority. FBC is a financial services company incorporated in the Cayman Islands and licensed under the Bank and Trust Companies Act as a Category…

ECCB Officially Announces Sale of RBC Assets

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The Eastern Caribbean Central Bank (ECCB) advises that effective 1 April 2021, the Royal Bank of Canada’s (RBC) operations in Antigua and Barbuda, the Commonwealth of Dominica, Montserrat, Saint Christopher (St. Kitts) and Nevis, and Saint Lucia will cease, having been acquired by a consortium of national banks. The Consortium of banks comprises: Antigua Commercial Bank Limited (ACB), National Bank of Dominica Limited (NBD), Bank of Montserrat Limited (BOM), the Bank of Nevis Limited (BON), and 1st National Bank St.…

CAB Congratulates New Republic MD’s

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The Chairperson, Chief Executive Officer, and the Board of Directors of the Caribbean Association of Banks (CAB) Inc. have extended congratulations to two colleagues who have been announced to take up new positions within Republic Financial Holdings Limited (RFHL). With effect from April 1, 2021, Mr. Keith A. Johnson will join Republic Bank (Suriname) N.V. as Managing Director, and Mrs. Naomi De Allie will return to Republic Bank (Grenada) Limited, replacing Mr. Johnson as Managing Director. Prior to her new…

Bank of Jamaica Picks eCurrency Mint as CBDC Partner

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Saint Lucia, Friday, March 26th, 2021: The Bank of Jamaica (BOJ) is advancing plans to roll out digital currency, with the announcement on Wednesday (23 March) that the BOJ has selected an Ireland-based company as its technology partner. According to a release from the bank: “BOJ is pleased to announce that after an extensive procurement process, the technology provider chosen to support BOJ in testing a central bank digital currency (CBDC) solution in the Bank’s Fintech Regulatory Sandbox for a…

Anthony Clerk is new President of Barbados Bankers Association

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The Barbados Bankers Association (TBBA) announces the election of Mr. Anthony Clerk, Managing Director and Chief Executive Officer, Republic Bank (Barbados) Limited as its new President. In addition to providing leadership of the Association, as President, TBBA, Mr. Clerk will be its main spokesperson to communicate the banking industry’s perspective to government, regulators and stakeholders, inclusive of the media and the public. Mr. Clerk is a career banker with more than a decade of experience at the Senior Management Level…

ACB Caribbean is Here – Simply Smarter Banking

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St. John’s, Antigua, Friday March 19th, 2021: Today, customers can step into the new look Antigua Commercial Bank (ACB) now trading as ACB Caribbean. The 65 year old financial institution has unveiled its Brand Evolution to the people of Antigua & Barbuda. In spite of the modern and fresh new image, the organization has not lost sight of its long standing legacy of deeply rooted Corporate Responsibility. The financial institution has generously contributed $100,000 XCD to the ongoing Vaccination Programme…

Scotiabank Announces Agreement to Sell its Operations in Guyana

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Georgetown, Guyana – March 3, 2021 – Scotiabank announced today that it has reached an agreement for the sale of its banking operations in Guyana to First Citizens Bank Limited (“First Citizens”). The agreement is subject to regulatory approval and customary closing conditions. This transaction supports Scotiabank’s strategic decision to focus on operations across its footprint where it can achieve greater scale and deliver the highest value for customers. Scotiabank’s current operations in Guyana encompass four branches and approximately 180 employees. Following…

EU Blacklists Four Caribbean Territories, Saint Lucia Delisted

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Saint Lucia, Friday, February 26th, 2021: The Council of the European Union (EU), on 22 February 2021, announced changes to the EU list of non-cooperative jurisdictions for tax purposes. Several of these changes affect Caribbean jurisdictions. Four territories in the region are on the “blacklist.” The status of Anguilla, Trinidad and Tobago, and the United States Virgin Islands remains unchanged from the last bulletin. According to the EU conclusion, unresolved issues with these countries may include the following: Not rated…

ECCB Signals Approval of RBC Sale

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Saint Kitts and Nevis, Friday, February 19th, 2021: Governor Timothy Antoine of the Eastern Caribbean Central Bank (ECCB) has confirmed that his organisation will be approving the sale of Royal Bank of Canada (RBC) operations in several territories in the Eastern Caribbean. The RBC assets will be sold to a consortium of indigenous banks within the Eastern Caribbean Currency Union (ECCU) jurisdiction, viz. 1st National Bank (St. Lucia), Antigua Commercial Bank, National Bank of Dominica, Bank of Montserrat, and Bank…

Purchase Of Shares In FirstCaribbean International Bank Limited By GNB Financial Group Limited From CIBC Will Not Proceed

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3rd February 2021, Bridgetown, Barbados. Canadian Imperial Bank of Commerce (“CIBC”) today announced that the transaction that would have seen GNB Financial Group Limited acquire a majority stake in FirstCaribbean International Bank Limited (“FirstCaribbean”) will not proceed as the transaction did not receive approval from FirstCaribbean’s regulators. “While this transaction would have supported FirstCaribbean’s long-term growth prospects, it is only one way of supporting growth for our bank going forward. CIBC has held a majority ownership stake in FirstCaribbean for…