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The First Citizens Group board is expected to resign on October 7, a day before a special general meeting will be held to nominate new board members for the group.

This is the latest chapter in the shake-up at the state-owned bank, starting with the resignation of group CEO Karen Darbasie, whose resignation takes effect on October 21.

Newsday was told in August that Darbasie submitted her resignation to corporation sole, Finance Minister Davendranath Tancoo on August 20.