Republic Bank has completed its acquisition of Scotiabank BVI and commenced operations at its branch in Road Town this morning, June 2.
Signs that the Trinidadian company’s operations have started was evidenced by the queue of customers outside of the building on Tuesday.
Scotiabank’s signature red colour that previously accented the building that housed its operations locally, has also now been replaced by Republic Bank’s trademark blue — another visible sign of the takeover.
As for other changes associated with the sale, Scotia customers who previously used its online banking service must now do so through the Republic Bank website using their same login and password. A similar principle applies to mobile banking users, who must now download Republic Bank’s mobile app to access that service.
Scotiabank employees, in the meantime, will remain with the business under Republic Bank’s ownership.
Republic Financial Holdings Ltd — the parent company — had reportedly purchased Scotiabank BVI for $120 million.
BVI News will bring more about the acquisition in subsequent publications.
Copyright 2020 BVI News, Media Expressions Limited. All Rights Reserved. This material may not be published, broadcast, rewritten or distributed.