Union meets RBTT workers today
REPRESENTATIVES of the RBTT Financial Group and the Bustamante Industrial Trade Union (BITU) are to meet this morning to discuss the effects of the acquisition of the bank by the Royal Bank of Canada (RBC).
RBTT informed the union on Tuesday that its board of directors had approved a deal, under which RBC will combine its Caribbean retail banking operations with RBTT’s through the acquisition of the local bank.
“We treat acquisitions very seriously. What we are seeking is a comprehensive dossier to determine the economic, financial and social effect of the acquisition,” BITU assistant secretary Kavan Gayle said yesterday.
He said that the union was particularly concerned about the integration of RBC’s banking culture into the systems, products and services offered by RBTT.
It was reported Tuesday that RBTT had signed a deal to sell all its shares to Canadian retail bank, RBC, for total purchase price of US$2.2 billion.
