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Financial News

Nov 2023 Financial News

FirstCaribbean International Bank Limited - Notice of Material Change - Sale of Banking Assets in Curacao and Sint Maarten

Nov 01, 2023

FirstCaribbean International Bank Limited (“CIBC FirstCaribbean”) announces that its wholly-owned subsidiaries, FirstCaribbean International Bank (Cayman) Limited and FirstCaribbean International Bank (Curaçao) N.V., have agreed to sell their banking assets in Curaçao and Sint Maarten to Orco Bank N.V.

The transaction is subject to regulatory approval and other closing conditions and is expected to be completed in the coming months. Both parties are working closely to ensure a smooth transition for clients.

The transaction will not have a material impact on CIBC FirstCaribbean’s Tier I and Total Capital ratios.

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Source:
The Trinidad and Tobago Stock Exchange Limited
Wednesday 1st November, 2023