May 2015 Financial News

Scotia TT’s amalgation with merchant bank approved

May 11, 2015

The Central Bank has approved the amalgamation of Scotiabank T&T Limited (SBTT) and its 100 per cent owned subsidiary Scotiatrust and Merchant Bank T&T Limited (Scotiatrust) pursuant to section 223 of the Companies Act. SBTT said in a press release that it will remain responsible for the obligations of Scotiatrust, and there will be no material impact on its current operations or its customers as a result of the amalgamation.

SBTT has been a part of T&T for 61 years and offers a comprehensive line of retail, small business, corporate, commercial and wealth services through its extensive network of branches across the country. Its subsidiaries include ScotiaLife T&T Limited and Scotia Investments T&T Limited. The Scotiabank T&T Foundation, a registered charitable organisation, manages Scotiabank’s philanthropic activities.

Source:
Trinidad Guardian
Monday May 11, 2015

http://www.guardian.co.tt/business/2015-05-11/scotia-tt%E2%80%99s-amalgation-merchant-bank-approved