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First Citizens Bank Limited's Acquisition of Operations in Guyana from Scotiabank – Global Legal Chronicle


Torys LLP represented Scotiabank on the deal.
Scotiabank announced that it has reached an agreement for the sale of its banking operations in Guyana to First Citizens Bank Limited. The agreement is subject to regulatory approval and customary closing conditions.
This transaction supports Scotiabank’s strategic decision to focus on operations across its footprint where it can achieve greater scale and deliver the highest value for customers. Scotiabank’s current operations in Guyana encompass four branches and approximately 180 employees. Following closing, all employees will continue to support the business.
Until regulatory approvals are obtained and the transaction closes, Scotiabank’s operations in Guyana will continue as usual. First Citizens and Scotiabank will work together to facilitate a smooth transition for the business. ....

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