ACB Caribbean celebrates its acquisition of RBC Antigua & a majority shareholding interest in RBTT Bank Grenada, now renamed ACB Grenada Bank
A Step forward for Indigenous Banks in the OECS
Saturday April 3th, St. John’s Antigua: In keeping with the vision of the OECS Monetary Council to consolidate banking operations in the OECS and strengthen the indigenous Banking sector, the Antigua Commercial Bank, trading as ACB Caribbean, is one of five indigenous Banks that acquired the OECS assets of RBC and/or shares of RBC in RBTT St. Vincent, Grenada and Nevis, as the Canadian institution exited this part of the Caribbean region, on the close date of the sale, April 1st, 2021. The acquiring Banks are 1st National Bank St. Lucia, Bank of Nevis, National Bank of Dominica, Bank of Montserrat and Antigua Commercial Bank.
Antigua Commercial Bank, trading as ACB Caribbean, has acquired the assets of Royal Bank of Canada (RBC) Antigua to include the Market & High Streets Branch location in St. John’s, Antigua and the majority shares of RBTT Bank Grenada with its main location in Grand Anse, St. Georges, Grenada. All branches of the former RBC and RBTT will be ready for business in both locations as of April 6th, 2021. We will provide frequent updates in the mainstream media and on ACB Caribbean’s social media channels, (Facebook and Instagram), as we navigate through the transition period.
ACB has a strong management team, led by its General Manager Ms. Joanna Charles and a Board of Directors led by Dr. Lorraine Raeburn that provides visionary leadership on the overall strategic direction to the team. We remain focused on providing world-class customer care to our valued customers, maximizing shareholder value and providing a welcoming, caring and professional environment for our employees.
Sensitization, orientation and training sessions have been ongoing for all employees in an effort to ensure a smooth transition for all stakeholders, alongside a well-managed merger of organizational cultures.
Customers are encouraged to reach out via email or telephone with any queries:
Antigua & Barbuda: customerservice@acbonline.com / (268) 481 4200.
Grenada: grenadasupport@acbonline.com / (473) 444 4919.
……..ENDS……..
ABOUT ACB Caribbean
ACB Caribbean is the largest public indigenous commercial bank in Antigua & Barbuda, with an asset base of over $1.3 billion Eastern Caribbean Dollars.
ACB Caribbean was incorporated on October 20, 1955, as The Antigua Co-operative Bank Limited, when it registered a share capital of $100,000 and became the country’s first indigenous bank and public company. The Bank’s share capital has since increased to $36 million with over 5000 shareholders. The Bank’s operations started on January 3, 1956, at the former Chelsea Building on Newgate Street in St. John’s, Antigua, its first location. Since then, ACB has grown into a multi- faceted indigenous Bank in Antigua and has experienced steady growth over the years, with four locations to include its subsidiary, ACB Mortgage & Trust Company Limited in Antigua and a branch in Barbuda.
On April 1st, 2021, ACB Caribbean acquired the majority shares of RBTT Grenada and RBC Antigua’s assets, and expanded its operations in keeping with its expansion strategy. The ACB Caribbean now operates its new subsidiary, ACB Grenada Bank Ltd. with branch locations in True Blue and Grande Anse.
ACB Caribbean is a proud corporate citizen, and is actively involved in the development of culture, sports, community development and education in Antigua & Barbuda and looking forward to implementing this strategy in Grenada.
Please visit our website at ag.acbonline.com.
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