Scotia Bank sells its operations to ECAB in Antigua and Barbuda

Scotiabank declared that it has reached an arrangement for the trade of its services in Antigua and Barbuda to the Eastern Caribbean Amalgamated Bank Limited ("ECAB"). The settlement is subjected to regulatory permissions and other conventional closing requirements.

This transaction supports the Bank's imperative decisiveness to concentrate on services across its footprint where it can deliver more significant scale and deliver the immense utility for customers. Scotiabank's general services in Antigua and Barbuda contains two branches with less than 75 employees.

Furthermore, the bank acknowledged the Government of Antigua and Barbuda's support for this event.

ECAB is a full-service commercial bank placed in Antigua and Barbuda that is bound to expanding its operations and giving high-quality products and assistance to all stakeholders.

ECAB also offers private and business banking services including deposits, loans, cards, foreign exchange and other services to individual and business clients in Antigua and Barbuda and across the Caribbean.