CIBC FirstCaribbean International Bank Limited (CIBC FCIB) is planning to rebrand its business to that of its Canadian parent company in the coming financial year (FY) at a time when it is exiting the Dutch Caribbean.
CIBC FCIB will adopt the name of its parent and be known as CIBC (Canadian Imperial Bank of Commerce). The announcement was made to staff yesterday morning, which was the final day of CIBC FCIB and its parent company CIBC’s 2023 FY. CIBC FCIB is a 91.67 per cent-controlled subsidiary of CIBC and has branding as CIBC FirstCaribbean. CIBC is Canada’s fifth-largest bank by total assets with CA$943 billion (US$711.65 billion) while CIBC FCIB had US$12.73 billion in total assets as at July 31.
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