Cayman National Corporation welcomes Republic Bank Ltd

Cayman National Corporation Ltd (CNC) has announced that Republic Bank (Cayman) Ltd (RBKY) banking and security operations will merge with Cayman National Bank Ltd (CNB) and Cayman National Securities Ltd (CNS) respectively.

In a press release on Monday, Nigel Baptiste, group president and CEO of Republic Financial Holdings Ltd (RFHL), said “The merger of RBKY into CNC will allow the RFHL Group to strengthen our operations in the Cayman Islands. This move will enable the RFHL Group to ensure a more robust customer experience and remove some of the duplication that existed across both entities, allowing for greater efficiencies.”

Janet Hislop, CEO of CNC, said, “We are happy to announce the completion of the mergers. Our teams have been working diligently to smoothly transition RBKY’s clients to CNB and CNS. We are delighted to welcome our new customers and offer them our wide array of products and services and a much enhanced online experience.”

CNB and CNS are directly owned by CNC, 74.9 per cent of whose shares are ultimately owned by RFHL. All Caymanian staff at RBKY will be employed within the Cayman National Group after these mergers are completed.