WITH the Royal Bank of Canada (RBC) selling its operations to Sagicor in Jamaica, the question is will it now remain committed to the Bahamas?

Earlier this week Bahamas Prime Minister Perry Christie said he is confident that RBC will remain in the country and pointed to its contribution to the overall economic growth and development of the country.

Christie who is also the minister of finance, said that the country’s banking sector is going through a ” shift with talks of recent downsizing, and it is something we can withstand and transcend”.

He continued: “Part of RBC’s philosophy is having a strong focus on customer service. I truly believe that this is the key to their success. This is a philosophy that we need to more widely adopt in The Bahamas. Having the best possible product to offer is only limited by our ability to give it to the customer with the right attitude. Good customer service ensures repeat business and a good reputation. RBC has a stellar reputation in The Bahamas.

“The company also has a fundamental belief in creating a working environment where employees are comfortable and can receive the best training possible.

“This is yet another building block of their success.”

Governor of The Central Bank of The Bahamas Wendy Craigg added that the country’s banking system remains “stable and sound”, which is key to promoting the long-term economic growth and development of the Bahamian economy.

“Successful banking initiatives must take into consideration changes in demographic patterns, and I believe that RBC has certainly scored an A on its report card and its assessment of the market. As regulators of banks in the Bahamas, the Central Bank really encourages the expansion of the retail banking network, which is important for the delivery of banking services.

“Today banks in the Bahamas reach their customers through an extensive branch network totalling some 89 locations at the end of 2013. This represents a per capita coverage of one branch per 4,000 Bahamians. RBC accounts for about 30 per cent of the network. We are witnessing in the Bahamas notable growth in transactions that are taking place through ABMs, online banking and certainly now mobile banking. In fact, banks in collaboration with the Central Bank have underway several initiatives aimed at reducing cash transactions and promoting greater efficiency in how banking is conducted in the Bahamas.”

RBC invested more than US$3 million in its new Old Fort Bay Town Centre Branch.