Unions and CARICOM weigh in on Scotiabank sale

By Caribbean News Now contributor

BRIDGETOWN, Barbados — The Caribbean Congress of Labour (CCL) and the CARICOM Competition Commission have both issued statements regarding the recently announced intention of Republic Financial Holdings Limited (RFHL) to purchase the banking assets of Canada’s Bank of Nova Scotia in nine English- and Dutch-speaking countries in the Caribbean, namely, Anguilla, Antigua and Barbuda, Dominica, Grenada, Guyana, St Kitts and Nevis, St Lucia, St Maarten and St Vincent and the Grenadines.

Scotiabank has also agreed to sell its life insurance operations in another two countries – Jamaica and Trinidad and Tobago – to Sagicor Financial Corporation.

The CCL said it acknowledges that the Eastern Caribbean Central Bank (ECCB),…

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