Republic Bank eyes stock listing

Trinidad-based Republic Bank of Trinidad & Tobago (RBTT) is planning to list on the Barbados stock exchange to benefit local investors, the Barbados Advocate quoted the bank's deputy managing director David Dulal-Whiteway as saying. RBTT has signed a memorandum of understanding to buy 57% of government run Barbados National Bank. The agreement was signed with a buy-back clause that gives the government a first-option to buy back the shares if RBTT decides to sell them within a five-year period. Dulal-Whiteway said a listing on the Barbados exchange would be positive for domestic investors as RBTT has maintained a compound annual growth rate of 30% during the last 30 years. "When you look at our performance over the years it has been extremely good. We have added a lot of value to our shareholders and we think our stock is one in which Barbadian locals will be very interested in investing," he said.