KOMPRA DI AKSHONNAN DI FIRSTCARIBBEAN INTERNATIONAL BANK LIMITED DOR DI GNB FINANCIAL GROUP LIMITED FOR DI CIBC NO TA SIGUI / PURCHASE OF SHARES IN FIRSTCARIBBEAN INTERNATIONAL BANK LIMITED BY GNB FINANCIAL GROUP LIMITED FROM CIBC WILL NOT PROCEED CIBC remains majority shareholder in FirstCaribbean

 

KOMPRA DI AKSHONNAN DI FIRSTCARIBBEAN INTERNATIONAL BANK LIMITED

DOR DI GNB FINANCIAL GROUP LIMITED FOR DI CIBC NO TA SIGUI

 

CIBC ta keda akshonista mayoritario den FirstCaribbean

 

4 di Febrüari 2021, Bridgetown, Barbados.  Canadian Imperial Bank of Commerce (“CIBC”) a anunsiá awe ku e transakshon ku lo ta tuma lugá pa GNB Financial Group Limited atkerí e mayoria di akshonnan den FirstCaribbean International Bank Limited (“FirstCaribbean”) lo no sigui debí ku e transakshon no a haña aprobashon di e reguladó di FirstCaribbean.

 

“Miéntras ku e transakshon lo a sostené FirstCaribbean su perspektiva pa krese riba término largu, e ta únikamente un forma pa e banko realisá kresementu di awor pa adelante. CIBC tabata doño mayoritario den FirstCaribbean pa un kantidat di aña, i ta eksistí un relashon di trabou ekselente ku enfoke kompartí pa kumpli ku e nesesidat di e klientenan” Colette Delaney, CEO di FirstCaribbean a bisa.

 

“FirstCaribbean, ta un banko fuerte, bon manehá i ku ta ahustá konsiente di e realidat ekonómiko di e pandemia i ta bon posishoná pa rekobrá sigun ekonomia den region ta rekuperá. Nos ta keda bon enfoká pa sigui nos strategia pa sirbi nos klientenan ku servisio di promé klase diariamente dor di ofresé un eksperensia bankario moderno i dor di ofresé nos empleadonan e mihó eksperensia posibel na trabou.”  

 

CIBC FirstCaribbean ta un banko di relashon ku ta ofresé un surtido kompletu di servisio finansiero, lider den merkado pa medio di su segmentunan di Corporate and Investment Banking, Retail and Business Banking i Wealth Management. E banko ta establesé den 16 pais rònt Karibe, ku aproksimadamente 2,900 empleado kla pa ofresé servisio den 64 filial i ofisina. CIBCFCIB ta un di e institutonan finansiero regional notá riba bolsa den Karibe Ulandes i Ingles, ku US$12 bion den aktivo i kapitalisashon riba merkado di US$2 bion.

 


PURCHASE OF SHARES IN FIRSTCARIBBEAN INTERNATIONAL BANK LIMITED

BY GNB FINANCIAL GROUP LIMITED FROM CIBC WILL NOT PROCEED

 

CIBC remains majority shareholder in FirstCaribbean

 

4rd February 2021, Bridgetown, Barbados.  Canadian Imperial Bank of Commerce (“CIBC”) today announced that the transaction that would have seen GNB Financial Group Limited acquire a majority stake in FirstCaribbean International Bank Limited (“FirstCaribbean”) will not proceed as the transaction did not receive approval from FirstCaribbean’s regulators.  

 

“While this transaction would have supported FirstCaribbean’s long-term growth prospects, it is only one way of supporting growth for our bank going forward. CIBC has held a majority ownership stake in FirstCaribbean for a number of years, and there exists an excellent working relationship with a shared focus on meeting the needs of our clients” said Colette Delaney, CEO, FirstCaribbean.

 

“FirstCaribbean is a strong, well-run bank which is adjusting sensibly to the economic reality of the pandemic and is well-positioned to recover as the economies of the region recover. We remain laser focused on delivering on our strategy – providing our clients with first class service through a modern everyday banking experience and providing our employees with the best possible work experience.  

 

CIBC FirstCaribbean is a relationship bank offering a full range of market leading financial services through our Corporate and Investment Banking, Retail and Business Banking and Wealth Management segments. The bank is located in sixteen (16) countries around the Caribbean, providing banking services through approximately 2,900 employees in 64 branches and offices. CIBCFCIB is one of the largest regionally listed financial services institutions in the English and Dutch speaking Caribbean, with US$12 billion in assets and market capitalization of US$2 billion.

 

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