Wednesday, Feb 21, 2018
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Gibson: Scotiabank considering Long Island expansion

Adrian Gibson. FILE

Scotiabank could be looking at expanding its services on Long Island after Royal Bank of Canada (RBC) announced if would be pulling out of that island within two months.

Member of Parliament (MP) for Long Island Adrian Gibson has been working hard to find a solution for the island. He announced yesterday on Facebook that Scotiabank officials visited the island yesterday afternoon to review its operations.

“The intent is to assess and make determinations as to whether they would cause their existent semi-operational branch to become a full service branch again and also to explore other opportunities and options,” the MP told his constituents through Facebook. “I am pleased to note this positive move in the right direction.”

Most respondents to his post were elated that Scotiabank could become a viable option for the island when RBC leaves.

Deputy Prime Minister and Minister of Finance Peter Turnquest recently revealed to Guardian Business that BOB was approached to see if it was interested in opening a branch on the island. The idea was first raised at the behest of Gibson.

Gibson told Long Islanders through another post on Facebook two weeks ago, that he and Turnquest would approach BOB about the idea.

“I had a productive discussion with Deputy Prime Minister and Minister of Finance Peter Turnquest about the withdrawal of Royal Bank of Canada and the plight of Long Islanders, particularly pensioners, government agencies and business persons,” Gibson said in the Facebook post.

“Coming out of those talks, I can inform you that there will be a meeting with Bank of The Bahamas officials in an effort to support and encourage the establishment of a branch of Bank of The Bahamas in Long Island. This is a priority. I am assured that our government will seek to address this matter in the soonest possible time and with consideration for all avenues.”

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