Weeks after reports surfaced that Scotiabank was gearing to sell its assets here in Guyana and a number of Caribbean territories to Republic Financial Holdings Limited (RFHL), the banking institution today officially informed its Guyana customers of this development.

In a letter seen by the Guyana Standard, which was disseminated to customers, the Canadian multi-national bank said that it has come to an agreement with RFHL – a leading financial institution based in Trinidad and Tobago with operations across the Caribbean and Ghana. RFHL, it noted, is committed to investing in and growing the business and delivering enhanced financial products and services that best serve customers’ needs. As such it said, “We are confident that this agreement provides the best long-term solution for customers in Guyana. Scotiabank and RFHL will work together to provide the smoothest transition for our customers, and our employees. And, we are delighted that, as part of this transaction, all impacted Scotiabank employees will join RFHL,” the letter added.

But according to Scotiabank, “Our agreement with RFHL is subject to regulatory approval and customary closing conditions. Until these are obtained and conditions met and the transactions close, all Scotiabank operations in Guyana will continue as usual.”

“There will be no changes to your account at this time; all your products and services remain the same at this time,” the letter continued.

Scotiabank has, moreover, promised to keep its customers informed as the transaction progresses. Nevertheless the institution said that customers with any further questions regarding the changes are welcomed to call its Contact Centre at (592) 223-HELP (4357).


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