RBC acquires TCI operation

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January 31, 2011

The Turks and Caicos Islands operation of Royal Bank of Canada (RBC) has been acquired by RBC Royal Bank Bahamas Limited, with the Bahamian subsidiary now in charge of the bank’s commercial and retail banking business on the Caribbean island.
The deal is subject to the approval of the TCI Financial Services Commission. RBC Bahamas applied to the island’s regulatory body for a national and overseas banking license.
Officials from RBC didn’t return calls to Guardian Business up to press time.
It’s another major move made by the financial institution, which recently changed the name of its Bahamas operations to RBC Royal Bank Bahamas Limited in November, because o ...

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News date : 01/31/2011    Category : Nassau Guardian Stories

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