First Caribbean

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Company Background

FirstCaribbean was formed in 2002 with the merger of CIBC West Indies Holdings and Barclays Bank PLC Caribbean operations. In December 2006, CIBC acquired Barclay’s stake and became the majority shareholder in FirstCaribbean.

On June 20, 2011 we proudly announced that we will be co-branded under the CIBC banner, adopting the branding CIBC FirstCaribbean.  The addition of CIBC to the FirstCaribbean brand emphasizes CIBC’s long-term commitment to the Caribbean region, our employees and our clients. Our clients and our employees across the Caribbean will continue to benefit from the long-term investment that CIBC is making in the Caribbean – a history that dates back to our first branches opened in 1920.  

CIBC FirstCaribbean will continue to operate as a Caribbean-managed business within the CIBC group of companies, and will continue to be traded as FirstCaribbean International Bank Limited on the stock exchanges of Barbados, Trinidad, Jamaica, The Bahamas and the Eastern Caribbean.

Industry analysis.
CIBC FirstCaribbean is a major Caribbean bank offering a full range of market-leading financial services in Corporate Banking, Retail Banking, Wealth Management, Credit Cards, Treasury Sales and Trading, and Investment Banking.  It is the largest, regionally-listed bank in the English-speaking Caribbean, with assets of over US$10.9 billion and market capitalisation of US$2.5 billion. The Bank has over 3,400 staff; 66 branches, 22 banking centres, and seven offices in 17 regional markets, serving 550,000 active accounts.

Segment analysis
A segment is a group of assets and operations engaged in providing products and services that are subject to risks and returns that are different from those of other segments. Segments with a majority of revenue earned from external customers, and whose revenue, results or assets are 10% or more of all the segments are reported separately.

Historical Background
The vision of First Caribbean International Bank is to create the Caribbean's number one financial services institution.  
• First for Customers: Customer First
• First for Employees: Employer of Choice
• First for the Caribbean: Caribbean Centric
• First for Shareholders: Including Employees
 
The face of banking is changing throughout the world and CIBC FirstCaribbean intends to lead these changes in the Caribbean with the expertise, integrity and knowledge of banking that almost 250 years of combined experience in the Caribbean brings. As one of the largest financial institutions in the region, CIBC FirstCaribbean International Bank serves the Caribbean with over 3,500 employees, more than 100 branches and 120 automatic banking machines in 17 regional markets.

CIBC First Caribbean's knowledge of banking has been gained through a combined experience of almost 250 years in the Caribbean through our heritage organisations, Barclays PLC and CIBC. Both have the distinction of being the oldest banks in the Caribbean. They were a part of the development of the region since the days of salt cod and rum. Many changes have been many since then. Tourism is the new export, and West Indian businesses are now taking on the world. FirstCaribbean will be there to make that goal possible.

FirstCaribbean was formed in 2002 with the merger of CIBC West Indies Holdings and Barclays Bank PLC Caribbean operations. In December 2006, CIBC acquired Barclay’s stake and became the majority shareholder in FirstCaribbean.  

On June 20, 2011 we proudly announced that we will be co-branded under the CIBC banner, adopting the branding CIBC FirstCaribbean.  The addition of CIBC to the FirstCaribbean brand emphasizes CIBC’s long-term commitment to the Caribbean region, our employees and our clients. Our clients and our employees across the Caribbean will continue to benefit from the long-term investment that CIBC is making in the...
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