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Bahamas Squandering ‘Caribbean’s Best Vat’

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,…

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Caribbean expansion for island based SMP

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…

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RBC completes sale of Caribbean trust business

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…

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Canadian banks ordered to disclose Cayman Islands dealings

By MARCO CHOWN OVED From The Star Canada The CRA suspects tax dodgers used RBC and Citibank to repatriate offshore assets held at Cayman National Bank. A Federal Court judge has ordered two Canadian banks to disclose their dealings with…

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Royal Bank of Canada sparks backlash with fee hikes in the Caribbean

By Sophia Harris, CBC News Customers line up to close their accounts after RBC introduces new banking charges Royal Bank is the only big Canadian bank that hasn’t announced any personal banking fee hikes in this country this year. But…

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Cayman Islands private hospital announces new ownership

CHRISSIE TOMLINSON MEMORIAL HOSPITAL ANNOUNCES NEW OWNERSHIP George Town, Grand Cayman, 16 March 2016 – Chrissie Tomlinson Memorial Hospital announced today that it has been acquired in a share acquisition by CTMH Holdings Ltd., the newly formed holding company for a…

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Trouble in Paradise: Inside Canadian banks’ billion-dollar Caribbean struggle

From Freedom SKN 106.5 They arrived in droves starting at 5:30 a.m., desperate to secure a steady pay cheque. By midmorning, the anxious mob totalled 5,000 people. Sandals, a Caribbean hotel chain, was hosting a job fair in Barbados to…

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Tense tiebreakers for Cayman Islands Spelling Bees

The annual national spelling bees ended in tense tiebreakers for both primary and secondary school students at finals held on 1st and 2nd December. In the 32nd Lions Club of Grand Cayman Secondary Schools Spelling Bee, 14 students vied for…

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RBC profit edges past forecasts; dividend raised

By David Berman – Banking Reporter From The Globe and Mail Royal Bank of Canada boosted its dividend after reporting that its profits rose 4 per cent in the third quarter to nearly $2.5-billion, providing an offset to an increasingly…

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Bank sale! Is Cayman Islands RBC to be sold to NCB?

From IC Insider Will NCB pick up RBC Cayman? Hot on the heels of an agreement to sell RBC Royal Bank (Suriname) N.V. (“RBC Suriname”), to Republic Bank in Trinidad, word reaching IC Insider is that Royal Bank’s operations in…