FirstCaribbean International Bank has received an A- Credit Rating by the international rating board of Standard & Poor’s (S&P), validating its reputation of strength and stability on the Caribbean landscape.
Since its inception in 2002, FirstCaribbean International Bank has maintained an S&P “A- Stable” – the highest rating of any commercial bank in the English-speaking Caribbean.
In explaining the basis for its assessment, the Standard & Poor’s report stated: *”FirstCaribbean’s management has strong experience in the region and should be able to further strengthen the Bank’s regional presence. In the past two years, the Bank has been successful in integrating operations from previous institutions, and the FirstCaribbean brand is increasingly recognized in the Caribbean.”*
FirstCaribbean’s asset base of over US$9 million makes it one of the largest banks in the Caribbean with good market positions in several of the 16 countries in which the Bank operates. *”Despite stiff competition, the Bank was able to achieve double-digit growth on its loan book, with important increments in the retail segment,”* the S&P report continued. The Bank is expected to continue capitalizing on its strengths derived from ownership and its good market position in the Caribbean to expand its banking operations.
As a major provider of banking services with over 80 branches throughout the region, FirstCaribbean International Bank is well positioned in the corporate, international, retail and capital markets, harnessing the expertise of its parent banks, Barclays Bank PLC and Canadian Imperial Bank of Commerce (CIBC).
FirstCaribbean International Bank (Bahamas) Ltd. is located in the Bahamas International Banking Centre, Bay Street, Nassau with branches throughout New Providence as well as in Abaco, Eleuthera and Grand Bahama.