First Caribbean International Bank announced yesterday that it has changed its legal name to CIBC Caribbean Bank Ltd.
The name change took effect from July 11, 2024. The bank, which is headquartered in Barbados, said the new legal names aligns with the recent adoption of the CIBC brand.
On October 31, 2023, First Caribbean International Bank announced that the CIBC First Caribbean group would be adopting the brand of its ultimate parent, CIBC. The bank said the brand would have been rolled out across the region in the coming months, subject to any required approvals.
CIBC Caribbean has branches and offices in 11 Caribbean islands, comprising: Antigua; The Bahamas; Barbados; British Virgin Islands; Cayman Islands; Jamaica; St. Kitts & Nevis; St. Lucia; St. Maarten; Trinidad & Tobago and Turks & Caicos Islands.
CIBC Caribbean describes itself as a relationship bank offering a full range of market-leading financial services through its corporate and investment banking, personal and business banking and wealth management segments, through its leading digital banking network and locations across the region.
It is one of the largest regionally listed financial services institutions in the Caribbean with US$13 billion in assets and market capitalisation of US$1.59 billion.
CIBC (Canadian Imperial Bank of Commerce) is a Canadian multinational banking and financial services corporation headquartered in the financial district of Toronto. CIBC indirectly owns 91.67 per cent of CIBC Caribbean, which is listed on the Barbados and T&T stock exchanges.
CIBC has international operations in the United States, the Caribbean, Asia, and United Kingdom. Globally, CIBC serves more than 11 million clients, and has over 40,000 employees.