Notes From The Margin

April 8, 2008

Somehow We’re Not Convinced!

Filed under: Banking,Barbados,Capitalism,Caribbean,Economy,Globalisation,Media,mergers — notesfromthemargin @ 6:39 pm

Has anyone else noticed how all the major bankers are lining up to tell us how the take over of RBTT by RBC won’t affect competition in the Barbados banking market place? First John Beale and now Oliver Jordan who are both saying the same thing….

PRESIDENT and CEO of RBTT Bank Barbados Limited, John Beale, does not foresee any significant impact on the local banking sector from the recently approved amalgamation between RBTT and the Royal Bank of Canada (RBC).

Speaking to Business Monday, Beale stated I dont think it will have a great impact, I dont think it will affect the competition.

You’ll pardon us but somehow we can’t see that the removal of one of the major banks from a marketplace that verges on an oligopoly won’t affect the competition.

Maybe we’re just cynical but despite the goodly efforts of Mr. Beale and Mr. Jordan we remain rather skeptical.

Marginal

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2 Comments »

  1. […] by Royal Bank of Canada won’t affect competition in the Barbados banking market place?”: Notes From The Margin remains unconvinced. Posted by Janine Mendes-Franco Share […]

    Pingback by Global Voices Online » Barbados: Banking Oligopoly? — April 9, 2008 @ 7:59 am | Reply

  2. Ther must be some incentive for a bank to change its stripes – and having one less bank does not necessarly force the others to compete, esp. if they were all doing ok previously

    Comment by bankelele — April 10, 2008 @ 10:23 am | Reply


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