Royal Bank of Canada

RBC in its sale of Eastern Caribbean banking operations

Client

Royal Bank of Canada

Value

-

Service

Mergers and Acquisitions

Date Closed

April 2021

Industry

Banking & Financial Services

Lead Office

Toronto

 

On December 12, 2019, the Royal Bank of Canada (RBC) announced its agreement to sell all banking operations in the Eastern Caribbean to a consortium of indigenous banks within the region. The sale involves the branches of the Royal Bank of Canada 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. The transaction is subject to regulatory approval and other customary closing conditions, and is expected to be finalized in the coming months.

RBC is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. As one of the Caribbean’s leading diversified financial services companies, RBC provides personal and commercial banking, wealth management, corporate and investment banking, insurance and trust and asset management services to a wide range of clients.

Osler, Hoskin & Harcourt LLP advised RBC with a team consisting of Rosalind Hunter, Jeremy Fraiberg (Corporate), Paul Litner (Pensions and Benefits), Patrick Marley, Taylor Cao (Tax), Jeremy Wu, and Deron Fung (Corporate).