December 6, 2019

CIBC and GNB Financial Group Limited reach agreement for purchase of shares in FirstCaribbean International Bank Limited

Pin It

CIBC remains significant shareholder as new entity chaired by Jaime Gilinski acquires majority stake; both parties committed to continued growth for FirstCaribbean 8th November 2019, Bridgetown, Barbados. CIBC today announced that they have reached agreement on the purchase of a portion of CIBC’s shares in its Caribbean entity, FirstCaribbean International Bank Limited (“FirstCaribbean”) by GNB […]

CIBC invites you to join them in a conference call

Pin It

Caribbean Update Conference Call – Friday, February 22 at 11am EST Please join us at our Quarterly Caribbean Update Conference Call on Friday, February 22 at 11am EST.

FirstCaribbean has a change of heart about NYSE listing

Pin It

From Barbados Today In a surprise development today, FirstCaribbean International Bank Limited (FCIB) said it had withdrawn its recent public offering made in the United States and is currently no longer pursuing a listing of its shares on the New York Stock Exchange (NYSE). Back in December 2017, the Barbados-based regional financial institution announced that […]

CIBC eyes FirstCaribbean valuation around $1.4 billion: sources

Pin It

By Matt Scuffham and John Tilak From Street Insider TORONTO (Reuters) – Canadian Imperial Bank of Commerce(NYSE: CM) is targeting a valuation of 10 times earnings for the potential listing of its FirstCaribbean business in New York, which would give it a market value of around $1.4 billion, five sources familiar with the matter told […]

Exclusive: Canada’s CIBC plans U.S. listing of $2 billion Caribbean unit – sources

Pin It

By John Tilak, Matt Scuffham From Reuters TORONTO (Reuters) – Canadian Imperial Bank of Commerce (CM.TO) plans to list its $2 billion Caribbean unit, FirstCaribbean, in New York, enabling it to exit a region where earnings growth has been slow, three people familiar with the matter told Reuters this week. Canada’s fifth-biggest lender, which will […]

The Editor Speaks: Suckoo files motion to allow bank-to bank transactions

Pin It

I have to applaud Bodden Town MLA Alva Suckoo’s motion to enable local banks to settle transactions among themselves through electronic clearance. I have news for him, however. They already do. Except, the money disappears from your account but doesn’t get credited to the other account for three to four BUSINESS days. The banks use […]

Trouble in Paradise: Inside Canadian banks’ billion-dollar Caribbean struggle

Pin It

From Freedom SKN 106.5 They arrived in droves starting at 5:30 a.m., desperate to secure a steady pay cheque. By midmorning, the anxious mob totalled 5,000 people. Sandals, a Caribbean hotel chain, was hosting a job fair in Barbados to hire staff for a brand new resort. Because thousands of people showed up for 600 […]

Two UWI students at Cave Hill campus to receive scholarships from outgoing CIBC CEO

Pin It

By CIBC December 17, 2015 Two students of the University of the West Indies, Cave Hill campus will receive special farewell gifts from outgoing Chief Executive Officer of CIBC FirstCaribbean International Bank, Rik Parkhill. The two students pursing studies at Cave Hill will be the beneficiaries of two one-off Rik Parkhill Scholarships worth BDS$10 000 […]

CIBC FirstCaribbean announces 2014 Most Outstanding Employees

Pin It

CIBC FirstCaribbean has announced its most outstanding employees for 2014 and among them is Caymanian Shadden McLaughlin. She joins seven other Player of the Series award winners who were drawn from throughout the Caribbean.  They are Shinika Reid (Bahamas), Hughzavia Bourne (Barbados Head Office), Damien Boyce (Barbados Head Office), Sheldene Pinder (Barbados), Alford Collis (St. […]

Quarterly earnings shine for banks, but tougher times ahead

Pin It

By Tim Kiladze – Banking Reporter from The Globe and Mail The latest batch of quarterly earnings from Canada’s biggest banks exceeded most expectations, but similar profits won’t seem nearly so spectacular starting next quarter. Canadian Imperial Bank of Commerce was the last of the major banks to report second-quarter results, posting a 3 per […]