CIBC FirstCaribbean Bank is the largest bank in the Turks and Caicos Islands (2018 total assets). FirstCaribbean offers financial services including personal banking, corporate banking, wealth management services, credit cards, and investment banking.
The Saltmills Plaza, Grace Bay branch of FirstCaribbean International Bank.
CIBC FirstCaribbean can trace its roots back to the first Barclays bank opening in the Turks and Caicos in 1981. In 2002, FirstCaribbean International Bank was formed as a merger of operations of Barclays in the Caribbean and the Canadian Imperial Bank of Commerce (CIBC). The local branches of Barclays were renamed FirstCaribbean.
In 2006, CIBC bought Barclays’ 43.7% share of FirstCaribbean for $988 million, and in 2011 the bank was renamed to CIBC FirstCaribbean, to more closely align with the CIBC brand.
In November 2019, CIBC sold its 66.73% shares to GNB Financial Group, an entity run by Colombian billionaire Jaime Gilinski for $797 million.