Jun 2014 Financial News

Sagicor Group Jamaica - Acquisition of RBC Royal Bank (Jamaica) Ltd and RBTT Securities Jamaica Ltd

Jun 16, 2014

Sagicor Group Jamaica Ltd is pleased to announce that its acquisition of full control of RBC Royal Bank (Jamaica) Ltd and RBTT Securities Jamaica Ltd. (collectively "RBC Jamaica"), and the consequential transfer of business from Sagicor Bank Jamaica Ltd. to RBC Royal Bank have received regulatory approval. We expect to complete the process of acquisition and transfer of business by the end of June. We will be taking steps to combine the operations of both banks to operate under the Sagicor Bank branch, which will involve rebranding all RBC Jamaica branches to Sagicor Bank branches. Our Teams at Sagicor Bank and RBC Jamaica will be working to ensure a smooth transition for all our new and existing customers. Over the next 12 months, we will be working to integrate our technology platforms so that customers will be able to bank at any of our branch locations.


Source:
Jamaica Stock Exchange
Monday June 16, 2014

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