Antigua and Barbuda as well as Guyana have raised concerns regarding the announcement that Scotiabank has agreed to sell its operations in nine Caribbean countries to Trinidad-based Republic Financial Holdings.
The Antigua and Barbuda government yesterday said it was deeply disappointed that Scotiabank would decide to sell its operations without consultation with regulators or the Finance Minister.
The Guyana government said the agreement raises a number of issues for the banking sector and the public which the Ministry of Finance, the Bank of Guyana and the Government will need to carefully consider.
A Republic Financial Holdings statement said the banks being acquired are located in Guyana, St. Maarten, Anguilla, Antigua and Barbuda, Dominica, Grenada, St. Kitts and Nevis, St. Lucia as well as St. Vincent and the Grenadines.
The purchase price is US$123 million.
All feeds
