Tuesday, 16th July 2024

St Kitts-Nevis-Anguilla National Bank Ltd acquires First Caribbean Bank in St Kitts

St Kitts-Nevis-Anguilla National Bank Ltd (National Bank) has announced that it signed an agreement to acquire the banking operations of CIBC First Caribbean in St Kitts & Nevis

Friday, 15th October 2021

St Kitts-Nevis-Anguilla National Bank Ltd acquires First Caribbean Bank in St Kitts

St Kitts-Nevis-Anguilla National Bank Ltd (National Bank) has announced that it signed an agreement to acquire the banking operations of CIBC First Caribbean in St Kitts & Nevis.

On Tuesday 12th October 2021, a Consortium of national banks in the Eastern Caribbean Currency Union executed a definitive agreement to acquire the branches and banking operations of CIBC FirstCaribbean in Dominica, Grenada, St. Kitts and Nevis, and St. Vincent and the Grenadines.

Managing Director of National Bank, Dr Analdo Bailey, in making the announcement stated, “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.”

National Bank has been serving the people of St. Kitts and Nevis and the wider Caribbean since 1971 and is currently celebrating its 50th anniversary. During this illustrious existence, the Bank has achieved the significant milestone of surpassing EC$3 billion in assets.