RBC sells Eastern Caribbean operations

RBC sells Eastern Caribbean operations

M&A Corporate & Sovereign Strategy Loans Equity Regulation Caribbean

Royal Bank of Canada (RBC) said it has agreed to sell all its banking operations in the Eastern Caribbean to a consortium of five lenders in the region for an undisclosed amount. The consortium, made up of 1st National Bank of St. Lucia, Antigua Commercial Bank, National Bank of Dominica, the Bank of Montserrat and Bank of Nevis, approached RBC earlier this year to buy the Canadian bank's businesses in the region, Rob Johnston, head of RBC in the Caribbean, said in a statement. The deal involves

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