Republic Bank to acquire Scotiabank branches in several Caribbean countries

A major development in the financial sector today, as Republic Bank has moved to acquire Scotiabank branches in several Caribbean countries.

The two companies issued statements today about the US 123 million dollar deal, which will see republic bank taking over Scotiabank's operations.

But in another development, the bank of nova scotia, the parent company of Scotiabank, is selling its insurance operations to Sagicor.

More in tonight's business watch.

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