FCIB exploring stock market listing of some of its shares

FirstCaribbean International Bank Limited is exploring a potential stock market listing of some of its shares in the US, 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 over the last three years. 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%), 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,” a statement from the bank said.