Union Bank of Jamaica

Union Bank of Jamaica in Jamaica was the result of a merger in 2000 of the business of four FINSAC controlled commercial banks and their three allied merchant banks, all seven of which sought Government intervention when faced with insolvency. The seven banks are:

Citizens Bank
Island Victoria Bank
Eagle Commercial Bank
Citizens Merchant Bank
Workers Savings & Loan Bank
Corporate Merchant Bank and
Island Life Merchant Bank.

History

Citizens Bank had started in 1967 as Jamaica Citizens Bank, the first Jamaican-owned bank. The US bank, Citizens and Southern had taken a 49% stake, and local interests owned 51%. At some point Citizens & Southern was forced to sell its shares to local interests. Eagle Commercial Bank had been established in 1968, and Island Victoria Bank in 1993.

In 2001, Royal Bank of Trinidad and Tobago bought Union Bank of Jamaica.^[1]

References

^ McPherse Thompson (June 10, 2011). "RBTT Brand to Disappear From Jamaica After A Decade". The Gleaner. Retrieved December 10, 2015.

External links

Jamaica Pawn Brokers

[1] McPherse Thompson (June 10, 2011). "RBTT Brand to Disappear From Jamaica After A Decade". The Gleaner. Retrieved December 10, 2015.

[1]