The Full Acquisition of the Royal Bank of Canada Branch here Expected to be Completed in Early April
It is anticipated that the acquisition of the Royal Bank of Canada branch in Montserrat will be concluded by April 1.
The confirmation was made by the Chairman of the Board of Directors Dalton Lee.
Speaking at a meeting of shareholders on Thursday, Mr. Lee announced that the Bank of Montserrat has already received the approval of the Government of Montserrat.
The Eastern Caribbean Central Bank …ECCB had given its blessing for the transaction in February.
Speaking at Thursday’s meeting Mr. Lee explained that there will be a transition period of two to three months before the RBC branch is closed for good.
Dalton Lee, chairman of the Bank of Montserrat.
Manager Baldwin Taylor also explained what the operations at the RBC branch would be like on Day One, once the transaction is completed.
He said however customers can expect some changes.
Bank Manager Baldwin Taylor
Meantime, in related news, the Bank of Montserrat has announced that the staff of the Royal Bank of Canada (RBC) have the opportunity to continue employment with their institution, if they wish to do so, once the conversion phase is complete.