A one bank island? Three bank island?
Scotiabank is expected to close on its $95 million deal to buy a 10 percent stake in First Bank in the next few weeks. Scotiabank (officially Bank of Nova Scotia) calls it an investment. Some banking analysts say it’s the first step in a takeover. (“We would not be surprised to see Scotiabank bid for First BanCorp in its entirety,” Bloomberg News quotes Genuity Capital Markets analysts, who cover Scotia, as saying.) Part of the deal gives Scotiabank first right of refusal if First Bank decides to put itself up for sale in the next 18 months. First Bank is busy cleaning up its books. It restated four years’ worth of financial results and this month missed a deadline to file its 2006 statements. Meantime…there remains the chance St. John could actually become a three bank island. Banco Popular said several months ago it was scouting St. John for a location.
All we really want is an ATM that works even most of the time. (The little third party cash machine in Starfish Market has had an Out of Order sign on it for months.) It’s also not a bad idea to save receipts from any ATM you use on St. John and be sure to check your bank records when you get home.
March 29th, 2007 19:05
I remember back in the day there was one ATM that would run out of money on a daily basis.
I am surprised that they haven’t improved that service yet.