Hamilton police investigating 2 targeted home invasions

Hamilton police are investigating two separate home invasions that happened over the weekend in the city.On Saturday evening, police were called to a home near Upper Horning Rd. and Mohawk St.Officers found a man suffering from non-life-threatening injuries. Police learned the victim had invited a man to his home and it’s believed that person allowed another man inside.During the incident, one of the suspects pulled out a black handgun. Police are looking for two men who are described as white and roughly six-foot-one. One of the men had a thin build, dark hair, and was wearing a black jacket. They were both seen leaving in a red Jeep Compass.The second incident happened just before 3 p.m. on Sunday. Police were called to a home near Limeridge Rd. West and West 5th St.Police say three men broke into a home where a woman, her child and a man were inside. The child was not physically hurt during the incident but the man and woman suffered non-life threatening injuries. Police say the victims are not cooperating.Investigators say both home invasions were targeted and anyone with information can contact Hamilton police or Crime Stoppers. read more

Continue reading

Republic Financial Holdings limited to acquire Scotiabanks banking operations in Guyana

Ronald F deC. Harford, Chairman of RFHLRepublic Financial Holdings Limited (RFHL) on Tuesday announced that it has entered into an agreement to acquire Scotiabank’s banking operations in Guyana, St. Maarten and the Eastern Caribbean territories, including Anguilla, Antigua and Barbuda, Dominica, Grenada, St. Kitts and Nevis, St. Lucia, and St. Vincent and the Grenadines.In a statement on the acquisitions, the Trinidadian based company said that “the purchase price is US$123 million, which represents US$25 million consideration for total shareholding of Scotiabank Anguilla Limited; and a premium of US$98 million over net asset value for operations in the remaining eight (8) countries. This price does not include any amounts required to capitalise the branches post-closing. The agreement, executed on November 27, 2018 signalled the commencement of a transaction that is subject to all regulatory and other customary approvals and conditions.”In making the announcement, Ronald F deC. Harford, Chairman of RFHL, said “This acquisition represents another major milestone for the Republic Group. As we grow and acquire significant positions in our existing markets, it is important that we continue to broaden our footprint, regionally and internationally. This agreement, which is subject to all regulatory approvals, affords us the opportunity to reach more clients in the Eastern Caribbean and Guyana, two markets we are familiar with, and build new relationships in St. Maarten. We are confident that our expanded presence or entrance in those markets will redound to the benefit of Scotiabank’s clients and employees as well as Republic’s existing stakeholders. I would like to thank Scotiabank for the confidence expressed in our ability to look after their valuable clients, and we are pleased that all impacted employees of Scotiabank in the 9 countries will join the Republic Group.”The Republic Group’s total asset base as at September 30, 2018 stood at US$10.5 billion, with equity at US$1.5 billion and profits attributable to shareholders for the year ended September 30, 2018 of US$198 million.This acquisition, according to the statement, will increase the Group’s asset size by approximately US$2.5 billion and will be accretive to the earnings of the Group by approximately US$ 0.20 per share. Citigroup Global Markets Inc. is advising RFHL on this transaction.“Scotiabank is proud to work with the Republic Group – a leader in financial services in the Caribbean who is well positioned to invest and grow the business, and to provide customers across the region with leading financial solutions that meet their needs,” said Ignacio (Nacho) Deschamps, Group Head, International Banking at Scotiabank.Harford explained that RFHL’s focus on seeking out expansion opportunities in the Caribbean is a testament to the Group’s confidence in and commitment to the Caribbean region. He added, “We have a proven track record of adding value to the markets we enter, and we look forward to partnering with the teams in these territories to deliver excellence in customer satisfaction, employee engagement and social responsibility.” Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)RelatedAnalyst points to job losses, market domination with Republic Bank acquiring Scotiabank’s operationsDecember 5, 2018In “Business”Scotiabank acquisition: Govt worried Republic Bank may wield too much influenceNovember 27, 2018In “Business”Antigua insists on deal for local banks in exchange for giving green-light for Scotiabank saleDecember 14, 2018In “latest news” read more

Continue reading