ACB Caribbean open to dialogue with former RBC workers in Grenada
RBTT Bank Grenada Limited
took strike action on Tuesday, after an announcement by the country’s Labour Minister that the former majority owner, Royal Bank of Canada, plans to challenge a recommendation for staff to be given severance.
The employees reportedly disagree with their former employer’s position not to offer severance after the Canadian bank was acquired by Antigua Commercial Bank (ACB) Caribbean in Antigua.
“Today, some of our staff members have decided to take strike action to highlight their disagreement with the former majority owners, Royal Bank of Canada’s decision to challenge the Minister of Labour’s recent recommendation for the staff to be given the option to accept severance,” the ACB Caribbean said in a release.
The St Kitts Nevis Observer
Royal Bank of Canada (RBC) has divested itself of its Eastern Caribbean banking operations, having gotten clearance by the Eastern Caribbean Central Bank to move ahead with the sale.
The sale of those operations in Antigua and Barbuda, Dominica, Grenada, Montserrat, St. Kitts and Nevis, St. Lucia and St. Vincent and the Grenadines closed last Thursday.
“This sale has RBC selling its Eastern Caribbean banking operations to a consortium of regional banks comprised of 1st National Bank of St. Lucia, Antigua Commercial Bank, Bank of Dominica, Bank of Montserrat, and The Bank of Nevis,” the RBC revealed in a statement last week.
RBC completes sale of Eastern Caribbean banking operations Royal Bank of Canada. FILE
Royal Bank of Canada (RBC) has divested itself of its Eastern Caribbean banking operations, having gotten clearance by the Eastern Caribbean Central Bank to move ahead with the sale.
The sale of those operations in Antigua and Barbuda, Dominica, Grenada, Montserrat, St. Kitts and Nevis, St. Lucia and St. Vincent and the Grenadines closed last Thursday.
“This sale has RBC selling its Eastern Caribbean banking operations to a consortium of regional banks comprised of 1st National Bank of St. Lucia, Antigua Commercial Bank, Bank of Dominica, Bank of Montserrat, and The Bank of Nevis,” the RBC revealed in a statement last week.
RBC completes sale of Eastern Caribbean banking operations caymancompass.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from caymancompass.com Daily Mail and Mail on Sunday newspapers.
Antigua Commercial Bank has completed the acquisition of the operations of Royal Bank of Canada in Antigua. ACB is among a consortium of indigenous banks across the Eastern Caribbean to acquire the assets of the Canadian bank in their respective territories. RBC’s head of Caribbean banking, Rob Johnston is quoted as saying the sale to indigenous banks will strengthen the financial system in the regional territories. Antigua and Barbuda’s Prime Minister Hon. Gaston Browne had insisted the Canadian banks seeking to off-load their assets offer the opportunity first to indigenous banks.