The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

The Spanish Wells community would be “only too glad” to have a Bahamian-owned institution fill the void created by the Royal Bank of Canada’s (RBC) imminent pull-out, with Commonwealth Bank sending a delegation to the island recently.

Robert Roberts, chief councillor for Spanish Wells, told Tribune Business  yesterday: “The one positive that came out of it is that Commonwealth Bank did send a delegation to meet with a group of business leaders, but they haven’t said whether they are going to commit. So far that’s about as far as things have gotten to date.”

He added:  “The general consensus is that Royal Bank can go back to Canada, and we would be only too glad to have a 100 per cent Bahamian-owned bank here, which is one of the only banks in the country actually showing growth. As far as the community goes, having Commonwealth being bounced around to potentially take RBC’s place, they’re all for it.”

Mr Roberts emphasised, though, that Commonwealth Bank had made no commitments on replacing RBC in Spanish Wells.

The Canadian-owned institution, which acts as the Government’s banker, unveiled plans to close four branches, namely Bimini and Spanish Wells, with the other two being its locations at Lynden Pindling International Airport (LPIA) in Nassau and Treasure Cay.

RBC told Tribune Business that all four branches will be consolidated with remaining locations, starting with the Treasure Cay branch, which will be merged with Marsh Harbour on April 7, 2017.

That will be followed by the LPIA branch’s consolidation with RBC’s Cable Beach operation on May 19, with the Bimini and Spanish Wells locations to be merged with Freeport and Harbour Island, respectively, on May 26 and June 23.