Barbados Today: The effects of the sale of Royal Bank to a regional consortium
By Barbados Today Since the departure of Barclays from the banking industry in the Caribbean approximately 17 years ago, there has been the withdrawal of the Bank of Nova Scotia and more recently, the sale of the Royal Bank of…
Antigua: Prime Minister Gaston Browne advocates for local consortium to take over Scotia Bank
From Antigua News Room Prime Minister Gaston Browne is seeking to amend the Banking Act of 2016 on the heels of the proposed Scotiabank acquisition by the Trinidad-based Republic Financial Holdings Limited (RFHL). The PM seeks to strengthen its authority…
Scotiabank Caribbean retreat marks shift after 129-year presence
By Doug Alexander From Bloomberg Bank of Nova Scotia’s retreat from parts of the Caribbean marks a turnabout for a Canadian lender initially drawn to the region 129 years ago by the thriving trade in rum, sugar and fish. Scotiabank…
RBC closes customer accounts as Panama Papers review concludes
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…
Cayman Islands: Burglary of Royal Bank of Canada on Shedden Road Wed Night, 22 June
From RCIPS This morning, Thursday, 23 June, personnel of RBC Bank discovered that a burglary of the bank’s premises on Shedden Road that had occurred sometime after business hours yesterday. Access was not gained to the vault, however a quantity…
Caribbean resorts lure private equity as Canadian banks retreat
By Ezra Fieser Bloomberg News From Leader-Post Even before last week’s rapprochement between the U.S. and Cuba, private equity companies from Bain Capital Partners LLC to billionaire Sam Zell’s Equity International were boosting investments in Caribbean resorts as the region’s…
Corporate tax avoidance ‘scheme’ hurting Canada, expert says
By Talin Vartanian, From CBC News Country’s corporate tax rate sits at about 25 per cent As Canadians dutifully file personal income tax returns during the coming weeks, consider this: many profitable companies pay little or no tax. In an…
Trinidad union warns of further RBC Royal Bank job losses
From Caribbean360 Last month, RBC announced that it had entered into a definitive agreement to sell RBC Royal Bank (Jamaica) Limited and RBTT Securities Jamaica Limited to Sagicor Group Jamaica Limited. PORT-OF-SPAIN, Trinidad, Tuesday February 4, 2014, CMC – The…
