A consortium of leading Banks in the Eastern Caribbean Currency Union has announced that it has entered into a definitive agreement to acquire the branches and banking operations of CIBC FirstCaribbean in Dominica, Grenada, St. Kitts/Nevis, and St. Vincent and the Grenadines.
The agreement which was executed yesterday is subject to regulatory approval and customary closing conditions.
Commenting on the transaction, Managing Director of the Grenada Co-operative Bank Limited, Richard Duncan, had this to say.
Managing Director of the Grenada Co-operative Bank Limited, Richard Duncan.
The Consortium looks forward to working with CIBC FirstCaribbean to finalize the transaction over the coming months with both working diligently to ensure the transition is seamless for all stakeholders.
Until regulatory approvals are obtained and the transaction closes, operations at all institutions will continue as they currently do.
The Consortium members speak of being committed to recruiting staff of CIBC FirstCaribbean, as required, to maintain and even improve the level and quality of service that CIBC FirstCaribbean customers are accustomed to.
