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Feb 19, 2018

Goodbye to Scotiabank in Placencia, Spanish Lookout

Scotiabank is closing two of its branches. In a release issued today, the Bank says that it will be closing the Spanish Lookout Branch effective April twentieth and the Placencia Branch will be shutting down effective June twenty-second of this year. The rather vague release, without giving specific details on the closures, says, “Like any organization, Scotiabank continuously reviews its operations on a local and global scale to ensure we meet the needs of our customers while maximizing operational efficiencies.” According to the bank, they are now focused on helping customers to transition. The Bank didn’t explicitly say whether the employees will be rehired by other branches only that they are committed to treating employees, fairly, equitably and with respect. We note that these two branches are located in two areas of big commerce and trade. Spanish Lookout is the largest Mennonite commercial and industrial community, while Placencia continues to boom with tourism business and is one of the top tourist destinations in the country where millions are being spent and invested. As you may have recalled, Spanish Lookout Branch was the target of robbers twice in the last decade, as recent as October of last year. In a previous robbery over seven years ago, a security guard was shot and killed and robbers made off with three hundred thousand dollars.

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1 Response for “Goodbye to Scotiabank in Placencia, Spanish Lookout”

  1. Teacher says:

    This is a very interesting note yes:

    We note that these two branches are located in two areas of big commerce and trade. Spanish Lookout is the largest Mennonite commercial and industrial community, while Placencia continues to boom with tourism business and is one of the top tourist destinations in the country where millions are being spent and invested.

    Scotiabank need to change to adapt to the above kind of markets.
    Scotiabank caters too much to taking advantage of “poor” people, making money off of them.
    Scotiabank ‘s banking philosophy does not cater to people who are industries and investment oriented. They should find a way to service industries and investment, and still be profitable.

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