Sunday, April 14, 2024

Scotiabank and Belize Bank still working independently for now


It has been a little over a week since the Scotiabank signage was removed from all branches countrywide and replaced with a Belize Bank sign. This came after Belize Bank’s parent company Caribbean Investment Holdings Limited, took over Scotiabank. Customers who may be confused with these financial institutions’ merging are advised that although everything seems to be under Belize Bank, there is an ongoing transition, and both banks are operating as two different entities for now.

Speaking with a representative from Belize Bank, they explained that until the acquisition/transition period is complete, customers with Scotiabank accounts can continue to use them as usual. The only difference is that everything has the Belize Bank stamp (receipts, new checkbooks, etc.); both entities are still working independently for now. The transition is expected to be complete in the coming months, and whenever this takes place, customers will be notified.

The merger involving Scotia and Belize Bank is considered the largest commercial bank in the country. The process started several months ago when Scotia decided to leave Belize.

As Scotiabank, the institution contributed significantly to the island community. Some of the projects the bank engaged in include donating computers to primary schools. The bank also supported education via grants/scholarships to primary school students.

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