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CIBC FirstCaribbean Grenada Bank sold to Grenada Co-op Bank Ltd

FirstCaribbean International Bank Limited and Grenada Co-operative Bank Limited have announced that on May 19, 2023, the sale of FirstCaribbean’s business in Grenada to Grenada Co-operative Bank Limited received approval from the Eastern Caribbean Central Bank. Photo: Internet Source
Donna Wellington, CIBC FirstCaribbean’s Managing Director for Barbados & OECS, that that bank is pleased at the approval of the sale in Grenada. Photo: Internet Source
Donna Wellington, CIBC FirstCaribbean’s Managing Director for Barbados & OECS, that that bank is pleased at the approval of the sale in Grenada. Photo: Internet Source
BRIDGETOWN, Barbados - FirstCaribbean International Bank Limited and Grenada Co-operative Bank Limited have announced that on May 19, 2023, the sale of FirstCaribbean’s business in Grenada to Grenada Co-operative Bank Limited received approval from the Eastern Caribbean Central Bank.

The banks further announced that the process of transferring FirstCaribbean’s clients to Grenada Co-Operative Bank Limited is expected to be completed by July 14, 2023. 

Donna Wellington, CIBC FirstCaribbean’s Managing Director for Barbados & OECS, noted: “We are pleased at the approval of the sale in Grenada. This helps us deliver on our strategy of simplifying our business.  We give our clients in Grenada our commitment that while we are working with Grenada Co-operative Bank Limited to complete the transfer, we will continue to provide them with first-class service right until the moment we close our doors for the last time; and our employees with the best possible work experience. 

Larry Lawrence, Managing Director of Grenada Co-Operative Bank Limited, commented, “We wish to thank all the stakeholders involved in this process thus far and express our delight in having received the approval of the sale.

"We are working assiduously to ensure a smooth transition of FirstCaribbean’s customers and look forward to welcoming them to the Co-op Bank family,” he added. 

The two banks will shortly begin communicating to clients about the plans and dates for the withdrawal of services from CIBC FirstCaribbean and the transfer of client information to GCBL, as part of the transition process.

CBIC also has banking operations in the [British] Virgin Islands and announced the proposed divestiture of its business in St. Vincent, Grenada, St. Kitts & Nevis, and Dominica in October of 2021.

The bank successfully transferred its St. Vincent clients to Bank of St. Vincent & Grenadines in April 2023.

 

9 Responses to “CIBC FirstCaribbean Grenada Bank sold to Grenada Co-op Bank Ltd”

  • Rubber Duck (20/05/2023, 14:33) Like (4) Dislike (1) Reply
    I am sure the bVI branch is next to be sold to republic bank
    • @Rubber Duck.. Poor Service.. (20/05/2023, 17:00) Like (10) Dislike (3) Reply
      All these businesses not getting it..Their poor service will bring them down..Unhappy customers means a weak and failing business; "Do they ever stop to think or be reminded by their bosses who pay their salaries or where tbe monies come from to pay their salaries..Look around..Liat, Caribbean, One Caribbean, Always leaving late arriving late, dont want leave with half full plane so those other half on board who pays their money don't matter..Soon to go down will be Inter Caribbean, they are now just like Liat...However, Liat will rise to the top again with the new African owners who understand the Air taxi business will not accept bad and poor service practices..
  • FDC backed (20/05/2023, 14:57) Like (5) Dislike (17) Reply
    I am sticking with Banco...Cant trust those monkeys down island with my money
    • @ Fdc backed (20/05/2023, 16:46) Like (15) Dislike (0) Reply

      You sound like a jack@$$

    • Smile FDC (20/05/2023, 18:36) Like (2) Dislike (4) Reply
      You will soon have to hide your money under your infested mattress. Down island is taking over slowly but surely. You people not accustom to excellent service so stay with banco. We want to own everything. Take a look in your rear view mirror we are closer then you think. We will take over and employ expats, because you want excellent service. Expats please remove your funds and support this bank. Send your hard earn funds home through the this bank.
    • Ole dummy (20/05/2023, 23:04) Like (7) Dislike (0) Reply
      Popular of Puerto Rico is a member of the Federal Deposit Insurance Corporation (FDIC). Does not apply in British Virgin Islands.
  • Asking For Myself (20/05/2023, 16:48) Like (2) Dislike (1) Reply
    When is Lorna going to address these banks with theses high interest rates and very poor service?
  • saying (20/05/2023, 17:56) Like (0) Dislike (0) Reply
    we don't banks if we going crypto
  • Bvi next? (21/05/2023, 18:26) Like (0) Dislike (0) Reply
    I wonder if the bvi branch next with them $5 service charge. I done close my account.


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