Royal Bank of Canada has entered into definitive agreements to sell all banking operations in the Eastern Caribbean to a consortium of indigenous banks within the region.
In a statement Thursday RBC said the transaction is subject to regulatory approval and other customary closing conditions.
It is expected to be finalised in the coming months.
The sale encompasses RBC branches in Antigua, Dominica, Montserrat, St. Lucia, and St. Kitts and Nevis, as well as regional businesses operating under RBC Royal Bank Holdings (EC) Limited in Nevis, Grenada and St. Vincent and the Grenadines.
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