In Kingstown, 1st National Bank will begin operating on August 2nd at RBTT’s old location on South River Road.
According to the Eastern Caribbean Central Bank (ECCB), RBTT Bank Caribbean Limited’s operations in Saint Vincent and the Grenadines (RBTT SVG) will cease effective 1 August following the acquisition of RBTT SVG by 1st National Bank St Lucia Limited.
“With effect from Monday, 1 August, RBTT Bank Caribbean Limited will become a subsidiary of 1st National Bank St Lucia Limited”.
According to Section 43 of the Banking Act, 2015, the ECCB, in consultation with the ECCB Monetary Council, approved the transfer of assets and liabilities of RBTT SVG to 1st National on 22 December 2020.
Accordingly, the ECCB updated 1st National’s banking licence. In Saint Vincent and the Grenadines, the Banking Business Vesting Order has been gazetted.
