The RBTT financial group has confirmed plans to sell its
retail banking operation to Royal Bank of Canada for approximately US$2.2
billion.
The story which was first aired in TVJ's Business Day months ago was confirmed Tuesday morning in a note to the local stock exchange.
This would create one of the largest banking networks in the Caribbean.
In its release to the Stock Exchange, RBTT says its Board of Directors has recommended that shareholders vote in favour of the move.
According to RBTT, the deal should close by the middle of next year and would put the new entity in 18 regional states with almost US$14 billion in assets.
The story which was first aired in TVJ's Business Day months ago was confirmed Tuesday morning in a note to the local stock exchange.
This would create one of the largest banking networks in the Caribbean.
In its release to the Stock Exchange, RBTT says its Board of Directors has recommended that shareholders vote in favour of the move.
According to RBTT, the deal should close by the middle of next year and would put the new entity in 18 regional states with almost US$14 billion in assets.
All feeds
