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... It look like Byles ah tek dis confidence ting to ridiculous levels now... muss be all dat Household Training ...wooiiieee 
J$9.5 billion the price tag for Sagicor's takeover of RBC
Wed January 29, 2014
Sagicor Group is paying J$9.5 billion for the purchase of Royal Bank of Canada’s Jamaican holding, RBC Royal Bank.
Senior officials of Sagicor, led by Chairman R. Danny Williams and President Richard Byles, held a media briefing on Wednesday afternoon in Kingston to provide further details of the transaction.
It was revealed that negotiations started in November with RBC's parent company and were concluded at 10 past midnight Tuesday night.
This now makes Sagicor Bank, Jamaica’s third largest commercial bank, behind National Commercial Bank (NCB) and Scotiabank Jamaica Ltd.
No bad debt
Byles revealed that the balance sheet of the institution will be worth more than the $9.5 billion being paid and that his company will not be assuming any of the bad debts that had been incurred by RBC Royal Bank.
“We are not starting without any anchor around our necks; we’re starting with a balance sheet that is very clean,” Byles stressed.
It was conceded during the press conference that the merger will likely result in some branch closures and staff cuts.
J$9.5 billion the price tag for Sagicor's takeover of RBC
Wed January 29, 2014
Sagicor Group is paying J$9.5 billion for the purchase of Royal Bank of Canada’s Jamaican holding, RBC Royal Bank.
Senior officials of Sagicor, led by Chairman R. Danny Williams and President Richard Byles, held a media briefing on Wednesday afternoon in Kingston to provide further details of the transaction.
It was revealed that negotiations started in November with RBC's parent company and were concluded at 10 past midnight Tuesday night.
This now makes Sagicor Bank, Jamaica’s third largest commercial bank, behind National Commercial Bank (NCB) and Scotiabank Jamaica Ltd.
No bad debt
Byles revealed that the balance sheet of the institution will be worth more than the $9.5 billion being paid and that his company will not be assuming any of the bad debts that had been incurred by RBC Royal Bank.
“We are not starting without any anchor around our necks; we’re starting with a balance sheet that is very clean,” Byles stressed.
It was conceded during the press conference that the merger will likely result in some branch closures and staff cuts.
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