On April 1, 2021, all the operations of RBC Royal Bank Saint Lucia, were absorbed into 1st National Bank, following the conclusion of the sale of the international Canadian bank to the island’s first indigenous bank.
Chairman of the Board of Directors of 1st National Bank St. Lucia Limited, Nigel Fulgence acknowledged that this is truly a proud moment for the country and the bank.
He noted that “This acquisition marks one of the most significant historical events in banking in Saint Lucia. For our part, 1st National Bank is experiencing its third wave of growth and expansion in its 83 years of operations– established as the St Lucia Cooperative Bank LTD then evolving into the 1st National Bank St. Lucia Limited and now in its expansion by this groundbreaking purchase of an International Bank’s operations”.
1st National Bank’s Managing Director, Johnathan Johannes, played a key role within the consortium that brought this transaction to a successful outcome. He also revealed that this acquisition gives 1st National Bank a further powerful competitive advantage in the market:
The bank has also stated that during the transition, the observable changes will initially be small. However, this historic accomplishment will quickly begin presenting itself through even more improved service and support for the financial goals of all customers as well as.