Republic Bank to ‘invest in local talent’; Retains all Scotiabank staff
“And there will be absolutely no staff retrenchment,” stated Managing Director of Republic Bank, Ms Marion D. Blyden in an exclusive interview with Virgin Islands News Online, as she noted that Republic Bank has made a commitment to invest in the existing human resources.
Investing in local talent
“We have the facility do it as we have a dynamic training programme, so the intention is to invest in our local talent,” Ms Blyden said.
Of the 51 staff, only one person is on work permit.
Apart from all staff being retained, there has also been no shakeup in positions at the bank.
According to Ms Blyden, the staff is optimistic about the future with Republic Bank.
“The staff is excited about the change, excited about the opportunities and what we will do and of course excited about the opportunities for their professional development.
US$14.6M in profits
President and CEO of the RFHL Group, Nigel M. Baptiste, had stated in a press release on Wednesday, June 3, 2020, that the acquisition will add 51 team members to RFHL’s staff complement of approximately 6,077.
He also said that at the end of October 2019, the [British] Virgin Islands operation reported total assets of US $568.5 Million and profits of US $14.6 million.
Mr Baptiste said, based on those numbers, the total asset base of the Republic Group will increase to approximately US $15.5 Billion.
The CEO also welcomed all new team members, saying: “The RFHL Group is built on our people, since we believe that is what differentiates us from any other financial institution. It was important to us that the people behind the success of Scotia’s operations in the BVI continued to be the main drivers of the success of our new operations there.
“I am very pleased to welcome each of them to the Republic family and I look forward to their growth and ours, in the years and decades to come.”
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7 Responses to “Republic Bank to ‘invest in local talent’; Retains all Scotiabank staff”
However let me warn you if you dont treat them well and fair your profit will be zero. If you dont help the people of this territory to achieve their goals and add to infurstruct it's better you pack up from now. People dont need cars only which is quick loan we need help to forge forward in businesses and a roof over our heads. Stop making it so hard to get a loan from the bank. Make it more friendly for customers to get a loan it's too much pressure and red tape on the people yes we are aware of the regulations on the bank. This is a new era and you must help the people to help them selves which would increase your profit.