- June 30, 2020
- Posted by: BCCI-Editor-M
- Category: News & Press Releases
Tuesday, June 30th, 2020
BCCI CONCERNED ABOUT INEVITABLE ECONOMIC AND CONSUMER IMPACT OF
SCOTIABANK (Belize) Ltd’s ACQUISITION
– For Immediate Release-
On Monday, June 22, 2020 the Belizean public was notified of a share purchase agreement by which Caribbean Investment Holdings Limited (CIHL), the parent company of The Belize Bank Limited, would acquire the shares of Scotiabank (Belize) Limited, pending regulatory approval. This acquisition leaves 50% of the commercial banking sector under the control of one institution and reduces the number of commercial banks in Belize from five to four. The impact of this transaction will be felt across the entire spectrum of personal and business customers seeking credit, finance, foreign exchange, correspondent bank services, and much more. It is therefore imperative for the BCCI to express its views and concerns.
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