What does oil have to do with anything? Oil money will not flow through these banks. It’s not even a Canadian company involved. That lil oil does not suddenly make Guyana into Kuwait or UAE.
Scotia has always been a small player and lots of local/regional banks came up over time. Guyana is a very tiny market, even with oil, and banks have been consolidating globally to compete.
Regulations have increased the cost of doing business so banks the world over has been culling for a while. This is not new!
The economy will swell some 40 to 50 times. The multiplier effect of money circulation alone will means these banks benefit. The problem here is the onerous confusing regulations of the Guyanese government. Going to the bank is not a 5 minute affair as it is here. It is hours long to complete even the most mundane activity. The government needs to get off their asses and regularize the business here. What the hell is the bank business if someone deposits a thousand dollars in their account? There are no reporting rules for that sum but they routinely do to the considerable anxiety of local people who often avoid the harassment completely by avoiding banks