NewsWhore
10-08-2007, 05:10 PM
The Republic Bank, a financial institution with headquarters in Trinidad and Tobago, has decided to sell its operations in the Dominican Republic. The winning bidder was BHD, The Dominican Mortgage Bank, according to full-page announcements in all today's papers. Republic Bank had come to the rescue of the ailing Banco Mercantil in October 2003 and tried to make a go of it. Last September, Republic sold off its personal banking operations to BHD and tried to reposition itself as a corporate banker. However, Republic Bank officials told Diario Libre reporter Eduardo Delgado that there were too many threats to profitability, which led them to open public bidding for their remaining business portfolios. In Santo Domingo, accounts with Republic Bank will be shifted to the BHD head office at the corner of 27 de Febrero and Winston Churchill Avenue. In Santiago, operations will be transferred to the Los Jardines Commercial Center branch on 27 de Febrero and Texas Avenue.
More... (http://www.dr1.com/index.html#6)
More... (http://www.dr1.com/index.html#6)