June 2008
The Minister of Finance granted a Commercial Banking Licence to PanCaribbeanBank Limited, (formerly Pan Caribbean Merchant Bank Limited), with effect from 23 June 2008. Consequently, the Merchant Banking Licence previously issued to Pan Caribbean Merchant Bank Limited under the Financial Institutions Act, was surrendered.
March 2008
On 19 March 2008, the name of DB&G Merchant Bank Limited was changed to Scotia DBG Merchant Bank Limited. This follows an earlier acquisition of its parent, Dehring Bunting and Golding Limited (DB&G Limited), by Scotia Group Jamaica Limited .
March 2007
‘Pursuant to sections 33 and 34 of the Financial Institutions Act and Regulations 15 – 20 of the Financial Institutions (Amalgamations and Transfers) Regulations 1997 and in accordance with the terms and conditions outlined in the Scheme of Transfer dated December 6 2006, Citimerchant Bank Limited transferred its assets and liabilities to Citibank N. A. (Jamaica Branch), effective 31 October 2006. The transfer was approved by the Minister of Finance and the assets vested pursuant to the Financial Institutions (Transfer of Assets and Liabilities of Citimerchant Bank to Citibank N. A. (Jamaica Branch) Vesting Order, 2006. Consequently, on the 5 March 2007, Citimerchant Bank Limited surrendered its deposit taking licence under the Protection of Depositors Act (repealed and replaced by the Financial Institutions Act, 1992)'.
April 2006
The Minister of Finance formally approved the granting of a licence under the Banking Act to Pan Caribbean Merchant Bank (PCMB), which will be issued once the appropriate change of name of PCMB is effected. PCMB's existing licence under The Financial Institutions Act is to be surrendered.
June 2004
The Minister of Finance formally approved the merger between Pan Caribbean Merchant Bank and Manufacturers Merchant Bank Limited effective 1 June 2004. The merged entity operates under the name Pan Caribbean Merchant Bank Limited.
April 2004
The Minister of Finance formally approved the merger between George & Branday Limited and First Global Bank Limited. The merged entity operates under the name First Global Bank Limited.
August 2003
The Minister of Finance formally approved the scheme to amalgamate the assets and liabilities of Issa Trust and Merchant Bank with DB&G Merchant Bank effective 1 August 2003. The merged entity continues to operate under the name DB&G Merchant Bank Limited.
July 2003
FirstCaribbean International Trust & Merchant Bank Ltd. transferred its banking assets and liabilities to FirstCaribbean International Bank ( Jamaica ) Ltd. and surrendered its Deposit-Taking Licence effective 1 July 2003
January 2003
International Trust & Merchant Bank transferred its remaining deposit liabilities to National Commercial Bank Jamaica Ltd. and surrendered its Deposit-Taking Licence.
November 2002
During November 2002 the deposit liabilities of Scotia Jamaica Trust & Merchant Bank were transferred to Scotia Jamaica Building Society and its Deposit Taking Licence surrendered on 11 November 2002. The entity was renamed Scotia Jamaica Investment Management Limited and operates under its securities dealers licence.
October 2002
Selected areas of the Caribbean operations of CIBC and Barclays Plc (Barclays) were amalgamated and the joint venture entities in Jamaica renamed FirstCaribbean International Jamaica Limited. Accordingly, CIBC Building Society was renamed FirstCaribbean International Building Society, CIBC Trust & Merchant Jamaica Limited was renamed FirstCaribbean International Trust & Merchant Bank ( Jamaica ) Limited and CIBC Jamaica Limited was renamed FirstCaribbean International Bank ( Jamaica ) Limited.
March 2002
In March 2002, AIC Limited (a Canadian Funds Management Company) acquired FINSAC's 76% shareholding in NCB.
December 2001
Trafalgar Commercial Bank Limited was renamed First Global Bank Limited.
July 2001
Manufacturers Merchant Bank Limited changed its name to Manufacturers Sigma Merchant Bank Limited consequent on its acquisition of Sigma Unit Trust Managers Limited and the assets and liabilities of Sigma Investment Managers Limited
June 2001
The business of Jamaica Savings and Loan Building Society was transferred to Jamaica National Building Society and its licence surrendered.
March 2001
Union Bank was acquired by a Trinidadian Financial Holding Company, RBTT Financial Holdings Limited. The bank was subsequently renamed the RBTT Bank Jamaica Limited . |
