April 06, 2020
Regional bank CIBC FirstCaribbean is moving to assist countries across the region to purchase much-needed COVID–19 testing kits.
The bank, through its charitable arm the FirstCaribbean International ComTrust Foundation, will donate a total of USD$250,000 toward the purchase of the kits in the countries across its regional footprint. The bank will make the donation through its various operating companies across the Caribbean, including The Bahamas and Turks and Caicos Islands.
Chief Executive Officer of the bank and Chair of the foundation Ms. Colette Delaney made the announcement noting: “testing was one of the main weapons in the arsenal against the spread of the disease”.
She added: “community spread is one of the main ways the virus is transmitted and testing is key to identify, isolate and treat those affected and limit its spread”.
Ms. Delaney thanked the region’s “public health leadership, medical professionals and frontline workers and others involved in the essential work of keeping our communities safe and functioning during this very difficult time”.
The donation follows the bank’s recent announcements of a suite of relief assistance to eligible clients including:
ï‚· 6-month payment moratoria on existing loans and mortgages.
ï‚· Temporary revolving or working capital financing options for our Corporate Banking and Business Banking clients.
ï‚· A special waiver of late payment fees and default interest to all eligible Retail, Business, Banking, Corporate Investment Banking and Wealth Management Clients effective for the 6 month moratorium period for existing loans and mortgages.
ï‚· Credit card holders automatically benefitting from a payment waiver for three (3) months based on their current account standing.
Ms. Delaney noted: “Our response has been in the spirit of partnership that has always existed between the bank and the people of the region. This two-pronged approach has allowed us to not only contribute to the national response in each of the countries in which we operate, but to directly assist our clients who are affected”.
Ms. Delaney also noted that many of the bank’s staff are choosing to make personal donations to the various relief programmes in their islands across the Caribbean and thanked them for their generosity.
“Our employees are known for their calm and professional response, particularly in a crisis. We thank them for their generosity and commitment to continuing to provide service to our clients in these most unusual of circumstances.”
CIBC FirstCaribbean has a staff of approximately 3,000 across 16 Caribbean countries.
About CIBC FirstCaribbean
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. We are located in sixteen (16) countries around the Caribbean, providing the banking services that fit our customers’ lives through approximately 3,000 employees in 68 branches and offices. We are one of the largest regionally listed financial services institutions in the English and Dutch speaking Caribbean, with over US$11 billion in assets and market capitalization of US $2 billion. We also have an office in Hong Kong. The face of banking is changing throughout the world and CIBC FirstCaribbean intends to lead these changes with the expertise, integrity and knowledge gained from banking in the Caribbean since 1836.
CIBC FirstCaribbean is a member of the CIBC Group. CIBC is a leading Canadian-based global financial institution with 11 million personal banking and business clients. Through our three major business units - Retail and Business Banking, Wealth Management and Capital Markets - CIBC offers a full range of products and services through its comprehensive electronic banking network, branches and offices across Canada with offices in the United States and around the world.