Scotiabank, the prominent Canadian banking giant, has formally announced the impending closure of eight of its outlets dispersed across rural regions of Newfoundland. The decision affects branches located in the towns of Grand Bank, Twillingate, Lewisporte, Bonavista, Burgeo, Flowers Cove, Deer Lake, and Whitbourne.
The bank’s representative, Daniela Da Silva, delivered the news through a series of electronic correspondences, although she fell short of providing any specifics regarding either the timeline for the closures or the number of personnel impacted. For customers situated in these eight localities, who necessitate in-person banking facilities, their needs will now have to be catered to at other branches.
A year prior, the banking behemoth had also shuttered its branch on Newfoundland’s Fogo Island, further underscoring this trend.
Responding swiftly to the news, Bonavista’s Mayor, John Norman, revealed in an online missive on Monday that their town branch was slated for closing in Fall 2024. Appalled at the decision, he announced his intentions to mobilize a committee to contest the shutdown.
Mayor Norman emphasized that the move would disproportionately impact a broad section of community constituents. The elderly, business owners, and financially struggling groups who are unable to handle all their monetary affairs online, will bear the brunt of the closures. He lambasted Scotiabank, writing, “Scotiabank kicked its customers with this, and if they choose not to serve us, we will make other arrangements with another financial institution.”
In response, Da Silva reassured residents that despite the looming closures, Scotiabank’s commitment to maintaining a robust presence in Atlantic Canada, including Newfoundland and Labrador, remains unyielding.
