FirstCaribbean Bank releases statement about NYSE listing
From CIBC FirstCaribbean
Bridgetown, Barbados – FirstCaribbean International Bank Limited is exploring a potential stock market listing of some of its shares in the United States, the world’s deepest capital market. No decisions have been made. However, a listing on the NYSE would provide CIBC FirstCaribbean with access to a larger investor base, enhanced liquidity and greater access to capital.
“CIBC FirstCaribbean has delivered strong operating performance and financial results [during] the last three years,” a bank statement read. “During this period, we have achieved an increase in adjusted net income of $123 million in 2015 to $153 million in 2017 (a CAGR of 11 percent), with a strongly improving asset quality profile. We have demonstrated continued market share gains with greater-than-average market growth across most geographies and business segments. We have achieved this by offering a superior client experience and technology interface together with our full suite of products and services.
“This trend is set to continue and we remain focused on delivering excellent service to our clients and providing the best possible return on investment for our shareholders.”
CIBC FirstCaribbean is the largest, regionally-listed bank in the English- and Dutch-speaking 68 branches and offices. The bank, which has almost 250 years of combined experience in the region, offers a full range of market-leading financial services in corporate and investment banking, treasury sales and trading, retail banking, wealth management, small business and credit cards. CIBC FirstCaribbean is a member of the CIBC Group, a leading Canadian-based global financial institution with nearly 11 million personal banking and business clients.