CIHL announces the acquisition of Scotiabank Belize Limited

Caribbean Investments Holdings Limited (CIHL) is pleased to announce the acquisition of Scotiabank (Belize) Ltd from Scotiabank Caribbean Holdings Limited, a subsidiary of The Bank of Nova Scotia (“BNS”). Scotiabank (Belize) Ltd. has been serving the Belizean public for the past 52 years providing quality products and services to their valued customers across their nine branches. The Acquisition has been granted regulatory approval of the Central Bank of Belize and is now subject to customary closing conditions.

This transaction forms an integral part of CIHL’s strategy to develop a strong banking franchise in Belize which will ultimately serve as a platform for the establishment of a Pan-Caribbean banking group. The acquisition of Scotia Bank will allow CIHL the opportunity to expand its existing banking operations, making The Belize Bank Limited the largest bank in Belize with 37% of the loans and 36% of deposits in the Financial System. This will allow The Belize Bank to provide a wider array of high quality products and services to an expanded reach of customers. With over 100 years of continuous service in the country, The Belize Bank Limited is committed to providing its customers with high quality and innovative products and services with exceptional customer service. The Bank values its tradition of service, built on sound banking experience and high ethical standards. With a history of consistent growth and our most recent “Investment Grade” rating from CariCRIS, The Belize Bank is a pillar of strength, stability and integrity in the Belizean economy.

How will Scotia Belize Limited customers be affected by this acquisition?

Over the next eighteen months, CIHL and Scotiabank (Belize) Ltd. will work together to make this transition as seamless as possible for all customers. You will experience no change to the way you do business with your branch at this time. During the transition period, all operations will be carried out under the name Belize Bank Corporation Limited and you will notice this reflected in signage and correspondences you receive from us. You can expect updates and communication every step of the way to ensure your banking experience remains consistent.   Some of the changes that you can look forward to within the next 12-18 months while the banking institutions go through the transitional acquisition phases are detailed below:

  • All your banking needs will continue be carried out at the current offices over the next 12-18 months.
  • Contact numbers and email addresses will be changed. These will be communicated to you as soon as they become available and likewise our  Contact Us page will be updated
  • Our core banking systems will be integrated which may change your banking information.

You can take assurance in knowing that we will make the transition  as seamless as possible and keep you informed of any changes that may affect you.

We thank you for giving us the opportunity to serve you. We are committed to upholding our mission of maximizing value for individuals and businesses in Belize by providing quality and innovative financial services, nurturing long-lasting relationships and delivering superior customer service.