The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

Royal Bank of Canada’s (RBC) branch departure from Bimini appears to be set despite the outcry from businesses and residents, with the bank now rushing to explain the new arrangements it is putting in place for clients.

Only a few businesses persons and stakeholders were allowed to attend a meeting last Wednesday that was attended by RBC’s Bahamas managing director, Nathaniel Beneby.

One businessman present at the meeting, but who wished not to be named, told Tribune Business: “There was a meeting Wednesday morning. They are going to definitely amalgamate the activities here with the bank in Freeport.

“They are going to come back to explain to residents exactly what the set-up is going to be. They’re going to be meeting with persons in various categories to explain the system as it is proposed.

“I’m also waiting to hear how it’s going to affect us. They are coming back to explain the system that they are going to have in place so that residents will be comfortable with whatever it is they are expected to do.”

RBC, which acts as the Government’s banker, has unveiled plans to close four branches - Bimini and Spanish Wells, as well as its locations at Lynden Pindling International Airport (LPIA) in Nassau and Treasure Cay.

RBC told Tribune Business that all four branches will be consolidated with remaining locations, starting with the Treasure Cay branch, which will be merged with Marsh Harbour on April 7, 2017.

That will be followed by the LPIA branch’s consolidation with RBC’s Cable Beach operation on May 19, with the Bimini and Spanish Wells locations to be merged with Freeport and Harbour Island, respectively, on May 26 and June 23.

Lorrick Roberts, owner of Dolphins Golf Cart Rentals, told this newspaper: “They only invited a few people to the meeting. It was a private affair. It wasn’t a public meeting. In any event it doesn’t look like anything is going to change.”