The St. John Scotiabank branch — an original tenant of The Marketplace on St. John — will be closing in September as a sign of the territory’s continued economic woes.
The rumors are true: Scotiabank will be closing its St. John Branch located at the Marketplace on September 20, 2014.
“Our staff has been notified. Letters have already been dispatched to our customers,” said Lawrence Aqui, Vice-President of Scotiabank in the Virgin Islands.
Aqui attributed the closing to the economic climate.
“The Virgin Islands has been suffering from a downturn in the economy since 2008,” he said. “The St. John branch hasn’t been growing.”
St. John customers will still have access to the bank’s ATMs on St. John, while their accounts will be consolidated to the Red Hook branch on St. Thomas.
“Nothing will change,” he added.