September 17, 2019

RBC Royal Bank evacuates employees and their families from Abaco

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NASSAU, N.P., THE BAHAMAS – September 6, 2019 — Today, RBC Royal Bank (RBC) announced it successfully evacuated employees and their families from the island of Abaco in the aftermath of Hurricane Dorian. “While many areas of The Bahamas were affected by Hurricane Dorian, conditions on Abaco are particularly severe,” said LaSonya Missick, Managing Director and Head […]

RBC celebrates 150 years with a $5.5 million investment in communities across Canada, the U.S., the U.K., and the Caribbean

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Donations will support youth-focused organizations driving positive change in their communities HALIFAX, April 4, 2019 — In celebration of its 150th birthday, RBC announced a $5.5-million (CAD) investment to communities across Canada, the United States, the United Kingdom and the Caribbean. The donations will be directed to youth-focused organizations committed to helping young people and their communities thrive. “RBC is […]

Saudi Arabia using the ‘oil weapon option’ could cause prices to soar to $150

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By Gina Heeb From Business Insider There is increasing evidence Saudi Arabia was behind the disappearance of Jamal Khashoggi, a US resident who has been a critic of the crown prince.   After the US threatened sanctions against Saudi Arabia, the oil-rich country seemed to hint at its ability to hit back through the energy market.  […]

RBC becomes the first bank to launch contactless payment technology for merchants across the Caribbean

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(PRESS RELEASE VIS SNO) – Over the coming weeks, RBC will be enhancing its Merchant Services across the Caribbean region by enabling RBC point-of-sale devices with contactless payment acceptance, or “Tap” as it is more commonly referred to. RBC is the first bank in the Caribbean to offer this for merchants across the region. “We […]

TT, the bright spot in RBC Caribbean operations

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From Newsday TT This country has proved to be a bright spot in RBC Caribbean’s operations, with the local bank posting a net income of $191.3 million for the financial year ending October 2017, a whopping 59 percent increase over the previous year’s $119.8 million. The overall Caribbean performance, on the other hand, was $520.2 […]

Shares in blue chip stocks can pay serious dividends

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From Prince George Citizen It’s a big machine. Twenty-eight years ago, my very first boss at RBC was at the tail end of a long career working for a benevolent employer, enjoying a largely prosperous five decades since the Second World War. In 1990, the bank bragged of never having laid off a single employee […]

RBC closes customer accounts as Panama Papers review concludes

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By Doug Alexander From Bloomberg Royal Bank adds new tax compliance measures after examination Accounts of about 40 clients shut due to bank’s risk-tolerance Royal Bank of Canada closed accounts of about 40 clients and bolstered tax compliance following a review of offshore accounts tied to last year’s leak of records from a Panama law […]

Bahamas Squandering ‘Caribbean’s Best Vat’

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By NATARIO McKENZIE Tribune Business Reporter From Tribune 242 Royal Bank of Canada’s (RBC) chief regional economist yesterday accused the Bahamas of squandering the Caribbean’s “most successful Value-Added Tax” by failing to act in a fiscally prudent manner. Marla Dukharan, in a harsh verdict on the Christie administration’s fiscal policies and achievements, said it had […]

Caribbean expansion for island based SMP

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From iom Today SMP Partners Group has completed the acquisition of Royal Bank of Canada’s (RBC) trust and fund administration business in the Bahamas, expanding its operations into the Caribbean. It will operate from offices in Lyford Cay, with Stephen Turner, CEO – Caribbean Region, leading the team and Deidree Bain, director, who is transferring […]

RBC completes sale of Caribbean trust business

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From Offshore Bankers SMP Partners Group has completed the acquisition of Royal Bank of Canada’s (RBC) trust and fund administration business in the Bahamas, expanding its operations into the Caribbean. It will operate from offices in Lyford Cay, with Stephen Turner, CEO – Caribbean Region, leading the team and Deidree Bain, Director, who is transferring […]