First Citizens Bank and Scotiabank reached an agreement for the Trinidad and Tobago based to financial institution to purchase its banking operations in Guyana.
The agreement was announced by Scotiabank on Wednesday in a release.
The Canadian multi-national said: “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.”
First Citizens is one of the largest native banks in the Caribbean with operations in Barbados, Costa Rica, St Lucia, St Vincent and the Grenadines and Trinidad and Tobago.
Scotiabank will continue its Guyanese operations until the deal is approved by regulators.