CIBC First Caribbean rebrands to CIBC

CIBC First Caribbean has revealed plans to rebrand its business name to match that of its parent company, the Canadian Imperial Bank of Commerce (CIBC).

The announcement came from the bank's CEO Mark St Hill. In a media statement on Tuesday, he said the bank's rebranding efforts are scheduled to be completed during the next financial year.

St Hill said the decision to adopt the brand symbolises their parent company's confidence in the Caribbean region and reinforces their long-term commitment. He said over the past three years, CIBC First Caribbean has undergone significant transformations, ushering in a new era of omni-channel banking experiences for its clients, such as enabling clients to receive loan funds within five minutes and facilitating remote cash and check deposits with instant access to cash. The bank also streamlined account opening and credit card application processes, allowing clients to conduct their banking from various devices, including phones, laptops and even watches, with minimal need to visit a branch.

St Hill said these improvements were made possible through the collaborative efforts of employees and clients and expressed his excitement about the future, emphasising that more advancements were on the horizon.

St Hill said being part of the global CIBC brand is an advantage for the regional bank as it will strengthen the bank and provide invaluable support for their ongoing growth throughout the Caribbean.

He said the bank would maintain its unique Caribbean flavour and expertise in the regional marketplace, respecting its heritage while embracing the opportunities ahead. Recently, the bank announced its divestment of businesses in the region, with pending sales to Curaçao-based Orco Bank NV.

St Hill ended by saying, “We are pivoting towards growing our company. We’ve created a great company out of the legacy of the two that came before and we are moving forward, looking forward to a bright future for our company."