The Trinidad and Tobago government-owned First Citizens Bank says Barbadians should have no fear of its planned buyout of Butterfield Bank Barbados.
Hours after announcing a $90 million deal with N. T. Butterfield & Son of Bermuda to buy Butterfield Bank Barbados, First Citizens’ deputy CEO Sharon Christopher said the buyout still had to be approved by the Central Bank of Barbados and its counterpart in Trinidad and Tobago.
Christopher told the DAILY NATION last night in an interview from Trinidad that regulatory approval from the two central banks could take another three months, though she did not expect any problems on that front.
Regarding the future of Butterfield’s 114 staff members, Christopher said while she “could not guarantee anybody’s job” First Citizens did not own another bank on the island and so it needed the current staff and management team.
Read the full story in today’s DAILY NATION.
