Very good. Guyana should do the same also. Prashad recently stayed a month in Harlem New York. He saw several Canadian Banks there. If Harlem is good for Canadian Banks then Guyana is good for Canadian Banks also. The Guyana government should tell Scotia Bank that they can only sell to another "too big to fail" Canadian Bank.

Republic Bank taking over Scotia Caribbean operations

-Guyana, Antigua raise regulatory red flags

https://www.stabroeknews.com/2...aribbean-operations/

Prashad posted:

Very good. Guyana should do the same also. Prashad recently stayed a month in Harlem New York. He saw several Canadian Banks there. If Harlem is good for Canadian Banks then Guyana is good for Canadian Banks also. The Guyana government should tell Scotia Bank that they can only sell to another "too big to fail" Canadian Bank.

The Canadian banks want to leave less profitable Caribbean markets.  So the choice is that their operations can be closed or transferred to a buyer. If a Guyanese bank wants to buy Scotia's Guyana operations they can submit an offer.

Antigua is wasting their time as with their tiny little self they cannot hold Scotia to ransom.  Part of the problem is that Caribbean people love bank tellers and dont do online banking and under utilize ATM machines so branch operating costs are quite high.  They then want free checking.

I would prefer a "too big to fail" international Bank take over Scotia Bank Guyana instead of a Guyana or Caribbean bank. A bank such as ING that.operates in Suriname.

Prashad posted:

I would prefer a "too big to fail" international Bank take over Scotia Bank Guyana instead of a Guyana or Caribbean bank. A bank such as ING that.operates in Suriname.

Too big to fail banks aren't interested in tiny islands like Antigua nor poor countries like Guyana.  T&T, Barbados, The Bahamas and Jamaica will get them.

Expect Royal to do the same now that Scotia has done this.  I know that they are unhappy with their Caribbean operations.

Given the difficulties of regional banking the best that one might get is "too big to fail" Caribbean style, which is Republic Bank.   They may be able to efficiently transact with the major money center banks. Smaller regional banks definitely not.

ING does Suriname due to its close ties to the Netherlands.  You know that Barclays Bank left the Caribbean a while ago, selling their Caribbean assets to a Bajan financial institution.