Banking & money
Cayman National board tells shareholders to take deal
(CNS): The Cayman National board of directors is expected to release a circular Friday about the take-over bid of the local bank by the Republic Bank Trinidad and Tobago (Barbados) Limited, in which it is recommending that shareholders accept the deal. Shareholders in the only Cayman-owned bank were offered a premium of more than $3 on […]
Republic Bank pushes bid for Cayman National
(CNS): Republic Bank TT (Barbados) Ltd (RBTTBL), a wholly-owned subsidiary of Republic Financial Holdings Ltd (RFHL), has signed “an implementation agreement” with Cayman National Corporation Ltd in its continued efforts to take over the local financial institution. Shareholders have been offered $6.25 per share from Republic, which is seeking to acquire between 51% and 75% […]
Who controls fees banks can charge consumers?
I would like to know who has authority and oversight of the fees charged by the banks in Cayman. I suggest that you ask your readers about their experiences.
Petition started to keep CNB Caymanian
(CNS): The announcement this week that a regional bank has made an unsolicited potential offer to buy up a ruling share of Cayman National Bank has spawned a local backlash, with people taking to social media to voice their concerns. A petition has now been started to urge the bank not to sell. More than […]
Regional bank triggers offer for control of CNB
(CNS): The board of Cayman National Corporation, the parent company of Cayman National Bank, has confirmed that it is currently considering a possible takeover offer by a regional player based in Barbados. The Republic Bank Trinidad and Tobago (Barbados) Limited (RBTTBL), which is owned by Republic Financial Holdings Limited, has announced it is considering the potential acquisition […]
Scotiabank to consolidate branches at digital centre
(CNS): Scotiabank is planning to close two of its branches and consolidate to a new digital centre at Camana Bay. The bank says its HQ near Grand Harbour will remain open but the former George Town HQ and its smaller branch in the Strand will close when it moves to the new location. Officials said […]
Savings: a bigger problem than foreclosures
JH writes: There is a much larger problem in this economy which plays a huge part in the economic circumstances faced by the Caymanian populace at large. This issue has never been discussed, and while there are many factors involved, I will just summarise it by saying lack of savings instruments in the financial system […]
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