Jul 2022 Financial News

First Caribbean International Bank Limited - Notice of Material Change

Jul 18, 2022

FirstCaribbean International Bank Limited (“FirstCaribbean”) announces that its wholly-owned subsidiary, FirstCaribbean International Bank (Barbados) Limited (“FCIB Barbados”), has received regulatory approval to sell its banking assets:

• in St. Vincent and the Grenadines to the Bank of St. Vincent and the Grenadines Ltd.,
• in St. Kitts and Nevis to St. Kitts-Nevis-Anguilla National Bank Limited.

FCIB Barbados will be working closely with the above purchasers to ensure a smooth transition for clients and to close the sales in the coming months. FCIB Barbados will surrender its banking licence in St Vincent and the Grenadines and St. Kitts and Nevis when the transactions are concluded.

The parties continue to negotiate key aspects of the proposed sale of FCIB Barbados’ banking assets in Grenada to Grenada Co-Operative Bank Limited which remains subject to regulatory approval. The proposed sale of FCIB Barbados’ banking assets in Dominica to the National Bank of Dominica Ltd. (“NBD”) will not proceed as NBD has announced a change in its strategic direction, which does not include an acquisition at this time. 

The Trinidad and Tobago Stock Exchange Limited
Monday 18th July, 2022