Royal Bank of Canada has announcement the closure of its Guernsey branch, putting nearly 90 jobs at risk.
The bank says it has made the ‘difficult decision’ to close its office in Guernsey following a review.
"RBC Wealth Management has made the difficult decision to close its office in Guernsey following a review of its business and centralise all relevant activity, predominantly in Jersey and other centres."
However, it may take up to two years before full closure of the branch.
The impact of the decision on the 89 islanders who work there will be determined by their role, but RBC says it is committed to communicating with employees as the firm closes its activity.
RBC will remain open in Jersey and across Europe in its Capital Markets, Global Asset Management and Wealth Management businesses.
Three charities awarded £500 grants in community campaign
Ministers back principle of social media 'restrictions' for under 16s
Passengers rerouted through Jersey Airport departures
A total ban on disposable vapes in Guernsey and Jersey is poised to take full effect
Divide over approach to gender guidance in schools
Islanders with COVID-19 symptoms reminded to avoid the hospital
2025 was the fourth warmest year on record
Review suggests parental leave for grandparents
