RBC EASTERN CARIBBEAN SALE APPROVED

[DMan7]

https://www.cnc3.co.tt/rbc-eastern-cari ... -approved/

The Eastern Caribbean Central Bank (ECCB) has approved the sale of Royal Bank of Canada in the territories of the Eastern Caribbean.

Trinidad and Tobago next..

Allya with RBC time to look to buss out.

[elec2020]

its called de-risking. it happened first of in belieze and CARICOM did nothing. then when it spread to barbados (a money transfer agent left) and jamaica (barclays left) they started to say something. too late. now scotia and rbc gone. who knows who else will leave us. de-risking essentially is when a financial institution decides to cut its losses in a country and leave them high and dry. with the way our economy going. who knows when it will reach our shores.

[88sins]

Sooner than many people think.
RBC gearing up to exit for the last year and a half or so.
One of the issues they having is that the banks profitability isn't as good as it could be in comparison to other countries where they operate. Mainly because of higher operational costs for staffing and that it will cost more than they want to spend to get rid of those employees. Not only in severance, but in customers as well. When they disposed of 25% of their staff a few years ago, they lost a lot of clientele, and they still losing clients. Between that and the current economic downturn in the region, they would expectedly be more willing to cut their losses.

[elec2020]

^yup expect more of that too happen. i say if scotia still here by 2030 we lucky. canadian banks realizing the caribbean market has plateaued

[VII]

There was a time not too long ago that both Scotia and Royal had no operations here and there was no Republic and no FCB either...and we rode it out and everyone came running back,and new entities were formed with new money,its all a cycle and a circle...it will go around and come right back around again..they've been winning for a long time and no one is entitled to win indefinitely...just have to suck it up and come again..

Scotia and Royal go scotia and royal come T&T would still be here..

^yup expect more of that too happen. i say if scotia still here by 2030 we lucky. canadian banks realizing the caribbean market has plateaued

[Redress10]

There was a time not too long ago that both Scotia and Royal had no operations here and there was no Republic and no FCB either...and we rode it out and everyone came running back,and new entities were formed with new money,its all a cycle and a circle...it will go around and come right back around again..they've been winning for a long time and no one is entitled to win indefinitely...just have to suck it up and come again..

Scotia and Royal go scotia and royal come T&T would still be here..

^yup expect more of that too happen. i say if scotia still here by 2030 we lucky. canadian banks realizing the caribbean market has plateaued

Trinis does act as though they can't own their own banks.
Scotia and RBC are foreign banks. What value do they really bring to the equation?

[aaron17]

Getting rbc ads in trinituner app.

[elec2020]

There was a time not too long ago that both Scotia and Royal had no operations here and there was no Republic and no FCB either...and we rode it out and everyone came running back,and new entities were formed with new money,its all a cycle and a circle...it will go around and come right back around again..they've been winning for a long time and no one is entitled to win indefinitely...just have to suck it up and come again..

Scotia and Royal go scotia and royal come T&T would still be here..

^yup expect more of that too happen. i say if scotia still here by 2030 we lucky. canadian banks realizing the caribbean market has plateaued

its not as easy as that. for example when scotia left the ECCB who was clamoring to replace them? Prime Minister Barrow for instance claimed that US banks were avoiding Belize. The situation was so dire that he requested an audience with the president of the US. De-risking is a serious thing

https://www.reuters.com/investigates/sp ... caribbean/

https://caricom.org/caricom-to-take-con ... us-un-wto/

[j.o.e]

RBC is a sheit bank ..... good riddance when they leave. Surprised they still have any customers.

[Country_Bookie]

There was a time not too long ago that both Scotia and Royal had no operations here and there was no Republic and no FCB either...and we rode it out and everyone came running back,and new entities were formed with new money,its all a cycle and a circle...it will go around and come right back around again..they've been winning for a long time and no one is entitled to win indefinitely...just have to suck it up and come again..

Scotia and Royal go scotia and royal come T&T would still be here..

^yup expect more of that too happen. i say if scotia still here by 2030 we lucky. canadian banks realizing the caribbean market has plateaued

Scotia and RBC / RBTT here since the 60s. Republic here since the 1800s ( they were called colonial bank then). First citizens was formed in the early 90s.

When u say " not too long ago " are u referring to the 1700s?

[DMan7]

Time to withdraw allya money and buss it!!!

[The_Honourable]

RBC might either exit or stick to a niche market like corporate banking, government financing etc.

Scotia not leaving anytime soon since they declaring profits every year. They might quicker consolidate their branches as we are in the virtual banking trend. They have been upgrading their platforms for the past few years faster than all the other banks.

[VII]

There was a time not too long ago that both Scotia and Royal had no operations here and there was no Republic and no FCB either...and we rode it out and everyone came running back,and new entities were formed with new money,its all a cycle and a circle...it will go around and come right back around again..they've been winning for a long time and no one is entitled to win indefinitely...just have to suck it up and come again..

Scotia and Royal go scotia and royal come T&T would still be here..

^yup expect more of that too happen. i say if scotia still here by 2030 we lucky. canadian banks realizing the caribbean market has plateaued

Scotia and RBC / RBTT here since the 60s. Republic here since the 1800s ( they were called colonial bank then). First citizens was formed in the early 90s.

When u say " not too long ago " are u referring to the 1700s?

RBTT was not RBC thats my point simpleton,it was a different entity,and Republic was not Colonial..Republic was a different entity formed from Bank of Commerce ,down to all their original branches were Commerce branches but still different entities...

And yes FCB was formed in the 90s from NCB a different entity...

Like I said not too long ago RBC was not here RBTT WAS NOT RBC and not too long ago Republic and FCB did not exist,the dynamics changed and entities changed and they always change...do I have to break down everything for you bruh?

[88sins]

RBC might either exit or stick to a niche market like corporate banking, government financing etc.

Scotia not leaving anytime soon since they declaring profits every year. They might quicker consolidate their branches as we are in the virtual banking trend. They have been upgrading their platforms for the past few years faster than all the other banks.

I could see this happening, they may shift their focus in the direction of corporate and investment banking.
Scotiabank has been upgrading its internet banking services, but they still late in the game and real far behind RBL. As a example, you can't get funds from an atm without a card with BNS, but you can with RBL, and don't talk about internet banking. RBL in front a long time now. All the others now trying to play ketch up since the outbreak began and people minimizing human to human interaction

[bluefete]

The Express was the only paper to publish this!

RBC takes $1.91b impairment
Anthony Wilson Feb 9, 2021 Updated Feb 10, 2021

DRIVEN by the impact of the Covid-19 pandemic, RBC Financial (Caribbean) declared an after-tax loss of $1.84 billion for its financial year ending October 31, 2020, which was mainly caused by goodwill impairment expense of $1.91 billion and provisioning for credit losses on loans and securities of $486.96 million...

https://trinidadexpress.com/business/lo ... 0066e.html

[Country_Bookie]

There was a time not too long ago that both Scotia and Royal had no operations here and there was no Republic and no FCB either...and we rode it out and everyone came running back,and new entities were formed with new money,its all a cycle and a circle...it will go around and come right back around again..they've been winning for a long time and no one is entitled to win indefinitely...just have to suck it up and come again..

Scotia and Royal go scotia and royal come T&T would still be here..

^yup expect more of that too happen. i say if scotia still here by 2030 we lucky. canadian banks realizing the caribbean market has plateaued

Scotia and RBC / RBTT here since the 60s. Republic here since the 1800s ( they were called colonial bank then). First citizens was formed in the early 90s.

When u say " not too long ago " are u referring to the 1700s?

RBTT was not RBC thats my point simpleton,it was a different entity,and Republic was not Colonial..Republic was a different entity formed from Bank of Commerce ,down to all their original branches were Commerce branches but still different entities...

And yes FCB was formed in the 90s from NCB a different entity...

Like I said not too long ago RBC was not here RBTT WAS NOT RBC and not too long ago Republic and FCB did not exist,the dynamics changed and entities changed and they always change...do I have to break down everything for you bruh?

Lol stop trying to cover up the nonsense u wrote by writing more nonsense. Republic is the same entity that was here in the 1800s. The name changed about 40 years ago when ownership changed from foreign to local... but ownership changes are expected in centuries old institutions. Republic did not arise from bank of commerce; they acquired commerce in 1997 and changed all their branches to Republic branches. So u saying they left and came back is absolute nonsense.... no matter how u try to spin it.

First citizens was born from the failure of NCB and workers bank and has always been majority state owned.

RBC is still the same entity it's been for the past half century. Ownership changed from foreign to local in the 80s and then back to foreign in 2008. That's the only bank where the foreigners left and came back.
Scotia never changed ownership.
When u say all banks left and came back, it's completely untrue. Educate yourself before u post next time.

[VII]

If I sell my business to someone else it could never be the same entity..and add a name change to the mix,c'mon stop being childish.. banks go and come and change hands all the time and my initial comment stands and is backed up by facts,you're just being a troll..

There was a time not too long ago that both Scotia and Royal had no operations here and there was no Republic and no FCB either...and we rode it out and everyone came running back,and new entities were formed with new money,its all a cycle and a circle...it will go around and come right back around again..they've been winning for a long time and no one is entitled to win indefinitely...just have to suck it up and come again..

Scotia and Royal go scotia and royal come T&T would still be here..

^yup expect more of that too happen. i say if scotia still here by 2030 we lucky. canadian banks realizing the caribbean market has plateaued

Scotia and RBC / RBTT here since the 60s. Republic here since the 1800s ( they were called colonial bank then). First citizens was formed in the early 90s.

When u say " not too long ago " are u referring to the 1700s?

RBTT was not RBC thats my point simpleton,it was a different entity,and Republic was not Colonial..Republic was a different entity formed from Bank of Commerce ,down to all their original branches were Commerce branches but still different entities...

And yes FCB was formed in the 90s from NCB a different entity...

Like I said not too long ago RBC was not here RBTT WAS NOT RBC and not too long ago Republic and FCB did not exist,the dynamics changed and entities changed and they always change...do I have to break down everything for you bruh?

Lol stop trying to cover up the nonsense u wrote by writing more nonsense. Republic is the same entity that was here in the 1800s. The name changed about 40 years ago when ownership changed from foreign to local... but ownership changes are expected in centuries old institutions. Republic did not arise from bank of commerce; they acquired commerce in 1997 and changed all their branches to Republic branches. So u saying they left and came back is absolute nonsense.... no matter how u try to spin it.

First citizens was born from the failure of NCB and workers bank and has always been majority state owned.

RBC is still the same entity it's been for the past half century. Ownership changed from foreign to local in the 80s and then back to foreign in 2008. That's the only bank where the foreigners left and came back.
Scotia never changed ownership.
When u say all banks left and came back, it's completely untrue. Educate yourself before u post next time.

[Fadakartel]

Ahh nice to see these moves in the region plenty local finance centres (services sector) growing.

Also pretty nice to be a part of this merging banks into one bank from an IT perspective plenty work to do from networking, cloud, dc, security and most of all merging folks accounts.

Seems the region is changing, plenty folks knew that this was approved since last year but had to keep their mouth shut till pre-legal phase was completed.