Canadian-owned Scotia-bank announced yesterday that it has reached an agreement for the sale of its banking operations in Guyana to First Citizens Bank Limited of Trinidad and Tobago, a move that Minister with responsibility for Finance, Dr Ashni Singh labelled as “premature and inappropriate”.
The agreement is subject to regulatory approval and customary closing conditions, according to a release from Scotiabank.
“This transaction supports Scotiabank’s strategic decision to focus on operations across its footprint where it can achieve greater scale and deliver the highest value for customers. Scotiabank’s current operations in Guyana encompass four branches and approximately 180 employees. Following closing, all employees will continue to support the business.
