St Kitts-Nevis-Anguilla National Bank Ltd (National Bank) has finalized and signed the terms of a deal to acquire the banking operations of CIBC First Caribbean in St Kitts & Nevis.
A consortium of national banks in the Eastern Caribbean Currency Union signed a definitive agreement towards the acquisition of the branches and lending operations of CIBC First Caribbean in Dominica, Grenada, St. Kitts, and Nevis, and St. Vincent and the Grenadines.
The Managing Director of National Bank, Dr. Analdo Bailey, in his statement regarding the purpose, nature, and terms of the deal indicated that “this acquisition is in keeping with our strategic vision to expand regionally and globally. We see this acquisition as a way to grow our corporate, insurance, and investment services.”
“As the Bank continues its jubilee celebrations, we remain committed to building a world-class financial institution that redounds to the benefit of shareholders, customers, employees, and all other stakeholders,” he added.
National Bank has been committed to providing reliable lending services to customers in St. Kitts and Nevis and also in the wider Caribbean since 1971. The bank is currently in the middle of its 50th anniversary.
From inception to date, National Bank has set a remarkable standard, crossing EC$3 billion in assets.
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