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On behalf of all of us at Scotiabank, I am writing to thank you for your business and for placing your trust in us. As we announced this week, Scotiabank and Republic Financial Holdings Limited have come to an agreement under which Scotiabank will sell our banking operations in 9 countries in the Caribbean: Anguilla, Antigua, Dominica, Grenada, Guyana, St. Kitts & Nevis, St. Lucia, St. Maarten and St. Vincent & the Grenadines to Republic Financial Holdings Limited (RFHL).

We are pleased to have come to this agreement with RFHL – a leading financial institution based in Trinidad & Tobago and with operations across the Caribbean and Ghana. RFHL is committed to investing in and growing the business and delivering enhanced financial products and services that best serve our customers’ needs.

We are confident that this agreement provides the best long-term solution for customers in St. Kitts And Nevis. Scotiabank and RFHL will work together to provide the smoothest transition for our customers, and our employees.

And, we are delighted that, as part of this transaction, all impacted Scotiabank employees will join RFHL.

Our agreement with RFHL is subject to regulatory approval and customary closing conditions. Until these are obtained and conditions met and the transactions close, all Scotiabank operations in St. Kitts And Nevis will continue as usual. There will be no changes to your account at this time; all your products and services remain the same at this time.

We will keep you informed as the transaction progresses. If you have any further questions regarding this change, please feel free to call our Contact Centre at (869) 465-4141.

Sincerely,

David Parks
Managing Director Caribbean East
Scotiabank