Scotia to close Holetown branch

Scotiabank account holders on the West Coast will have to travel a bit further to conduct business in the next few months.

That’s because the bank is closing its Holetown branch on July 19, the bank said in a release today.

It however said that an automatic banking machine will be maintained at the Rubis service station in Holetown.

While the Canadian bank continues to shrink its regional footprint by exiting some countries altogether, it is closing branches where it remains including Barbados where it has been since 1956. 

Yet it said its decision to close the Holetown branch was as a result of its customers’ changing behaviour.

The Holetown operations are to be consolidated into the bank’s newest branch at Warrens, St. Michael, it said.

But Scotiabank is promising no job losses as a result of the closure and that all of its affected workers would be integrated into its other branches.

Scotiabank said: “The decision reflects a change in the way customers are banking. There was careful consideration of several factors including an aging branch with space constraints, and how and where we can best serve our customers.

“There will be no jobs lost as a result of this consolidation. Some employees will be reassigned to other positions within the business.

“Scotiabank remains committed to Barbados. The bank continues to invest significantly in digital banking and to deliver a sustainable branch network for the long-term.

“We continue to be an employer of choice, valued corporate citizen and reliable business partner. We appreciate the loyalty of customers and will ensure the transition is a smooth one.

The consolidation will result in the transfer of all customer accounts at the Holetown Branch to the Warrens location, the release added.

While Scotiabank assured it was in the process of contacting

its customers, those customers not in agreement with their accounts being moved to Warrens, are asked to visit the branch to discuss alternative options, the bank said.