Scotiabank sale: First Citizens Bank does not have licence to operate here – Bank of Guyana

See below full statement issued by the Bank of Guyana:

First Citizens Bank Limited (FCB) published a Notice in the Trinidad Guardian on its decision to enter into a purchase and sale agreement with the Bank of Nova Scotia (BNS) to purchase its operations in Guyana.

The Bank of Guyana (BOG) notes that FCB entered the said agreement without informing the BOG. FCB does not have a licence to operate in Guyana.

FCB has not submitted an application, in keeping with the requirements of the Financial Institutions Act 1995 (FIA), to the BOG to acquire control of a bank (BNS) operating in Guyana.

Bank of Guyana

March 4, 2021