1st National Bank Acquires RBC’S Local Operations
* All RBC branches in Saint Lucia are now absorbed into 1st National Bank St. Lucia Limited
* A History making transaction for an indigenous bank
* 1st National Bank sees purchase as critical for future growth and expansion
Today, 1st National Bank St. Lucia Limited announces, that the activities and assets of RBC Saint Lucia have been integrated into 1st National Bank St. Lucia Limited through the successful purchase of the RBC’s banking operations.
Chairman of the Board of Directors of 1st National Bank St. Lucia Limited, Nigel Fulgence acknowledged that this is truly a proud and historic moment: “This acquisition marks one of the most significant historical events in banking in Saint Lucia. For our part, 1st National Bank is experiencing its third wave of growth and expansion in its 83 years of operations– established as the St Lucia Cooperative Bank LTD then evolving into the 1st National Bank St. Lucia Limited and now in its expansion by this groundbreaking purchase of an International Bank’s operations. I think our founding fathers would be immensely proud of our stewardship and where we have come. I am grateful to our Executive and the teams across all the branches for their dedication and skill in closing this deal and creating tremendous potential for greater things yet to come”.
This strategic development has been long in planning and will be extensive in its benefits to RBC customers. 1st National Bank notes: “naturally that there will be changes as well as new functionalities and promises to keep lines of honest communication with all staff, stakeholders and customers, during this period of transition.”
Managing Director, Johnathan Johannes, was a key player within the consortium, that brought this transaction to a successful outcome. He notes that the domestic financial sector in Saint Lucia has the potential to become stronger, better and more prosperous because of this purchase.
“Our commitment to delivering superior financial products and service, powered by industry-leading technology, local knowledge and passion, is changed only in its capacity to deliver even more powerfully with this expansion,” Johannes said.
1st National asserts that during the transition, the observable changes will initially be small. However, this historic accomplishment will quickly begin presenting itself through even more improved service and support for the financial goals of all customers.
According to the bank, the legacy continues as it builds better, together, on its journey from good to great.