CIBC First Caribbean International Bank (Bahamas) Ltd (formerly First Caribbean International Bank (Bahamas) Ltd)

CIBC FirstCaribbean is a major Caribbean bank offering a full range of financial services in retail and corporate banking, wealth management, treasury sales and trading, and investment banking.

Services

Retail and Corporate Banking
Wealth Management
Investment Banking

Financials

Total Assets (2017)
949 568.00 USD  (+25.75%)
Annual Profit (2017)
10 665.00 USD  (-27.92%)

CIBC First Caribbean International Bank (Bahamas) Ltd is the 7th largest bank in the Turks and Caicos Islands in terms of total assets. In 2017 its total assets were 949 568,00 USD, providing the bank with the market share of 0.11%. In 2017 the bank's annual profit was 10 665,00 USD.

There is no deposit guarantee scheme in the Turks and Caicos Islands: in the case of CIBC First Caribbean International Bank (Bahamas) Ltd failure its depositors will not get any compensation.

Contacts

Leeward Highway, Providenciales, Turks and Caicos Islands
698
649 946 5303
649 946 5325

CIBC First Caribbean International Bank (Bahamas) Ltd is headquartered in Providenciales.

Bank Identifiers

BIC (SWIFT)
FCIBTCGP

Business Summary

Services
retail and corporate banking
wealth management
investment banking

CIBC First Caribbean International Bank (Bahamas) Ltd provides products and services in the areas of retail and corporate banking, wealth management, investment banking.

Financial Positions

Total Assets (2017)
949 568.00 USD  (+25.75%)
Total Equity (2017)
77 887.00 USD  (+1.19%)

In 2017 total assets of CIBC First Caribbean International Bank (Bahamas) Ltd were 949 568.00 USD. Growth compared to the previous period (2016) was 25.75%. The evolution of the total assets of CIBC First Caribbean International Bank (Bahamas) Ltd is shown at Chart 1 below.

Total Assets of CIBC First Caribbean International Bank (Bahamas) Ltd.

Chart 1. Total Assets of CIBC First Caribbean International Bank (Bahamas) Ltd.

Recent changes in total assets of CIBC First Caribbean International Bank (Bahamas) Ltd and its main components are shown in Table 1.

2016 2017 % change
Cash and deposits with Central Banks 7 933.0 5 234.0 -34.02%
Claims to banks 460 222.0 661 453.0 +43.72%
Loans to customers 278 352.0 274 891.0 -1.24%
Total Assets 755 111.0 949 568.0 +25.75%
Table 1. Recent changes in total assets of CIBC First Caribbean International Bank (Bahamas) Ltd ( USD).

Recent changes in total liabilities of CIBC First Caribbean International Bank (Bahamas) Ltd and its main components are shown in Table 2.

2016 2017 % change
Customer deposits 539 644.0 717 687.0 +32.99%
Total Liabilities 755 111.0 949 568.0 +25.75%
Table 2. Recent changes in total liabilities of CIBC First Caribbean International Bank (Bahamas) Ltd ( USD).

Profit and Loss

Annual Profit (2017)
10 665.00 USD  (-27.92%)

Recent changes in gross profit of CIBC First Caribbean International Bank (Bahamas) Ltd and its main components are shown in Table 3.

2016 2017 % change
Interest Income 18 876.0 21 901.0 +16.03%
Interest Charges -901.0 -1 309.0 +45.28%
Net Interest Income 17 975.0 20 592.0 +14.56%
Table 3. Recent changes in gross profit of CIBC First Caribbean International Bank (Bahamas) Ltd ( USD).

In 2017 annual profit of CIBC First Caribbean International Bank (Bahamas) Ltd was 10 665.00 USD. Decline compared to the previous period (2016) was -27.92%. The evolution of the annual profit of CIBC First Caribbean International Bank (Bahamas) Ltd is shown at Chart 2 below.

Annual Profit of CIBC First Caribbean International Bank (Bahamas) Ltd.

Chart 2. Annual Profit of CIBC First Caribbean International Bank (Bahamas) Ltd.

Market Share and Rank (among banks in the Turks and Caicos Islands)

Total Assets (2017)
7th (market share 0.11%)

In 2017 CIBC First Caribbean International Bank (Bahamas) Ltd was ranked the 7th largest bank in the Turks and Caicos Islands in terms of total assets, having 0.11% of the domestic market share.

Market share of CIBC First Caribbean International Bank (Bahamas) Ltd (among banks in the Turks and Caicos Islands)

Chart 3. Market share of CIBC First Caribbean International Bank (Bahamas) Ltd (among banks in the Turks and Caicos Islands)

Several banks having the market shares and ranks closest to CIBC First Caribbean International Bank (Bahamas) Ltd are shown below.

RankNameTotal AssetsMarket Share
4Turks & Caicos Banking Company Ltd76.39 mln USD8.53%
5Bordier Bank (TCI) Ltd66.45 mln USD7.42%
6Hemisphere Bank Inc., Ltd. - Oversea19.49 mln USD2.18%
7CIBC First Caribbean International Bank (Bahamas) Ltd0.95 mln USD0.11%
 

Deposit Guarantee

Deposit Guarantee
No

Deposit Guarantee Schemes compensate certain deposits held by depositors of a bank that becomes unable to meet its obligations.

There is no deposit guarantee scheme in the Turks and Caicos Islands.

In the case of CIBC First Caribbean International Bank (Bahamas) Ltd failure its depositors will not be paid out any compensation.

BIC

BIC (Business Identifier Code, also known as SWIFT code or SWIFT BIC) is a the mostly used international identifier of financial institutions. SWIFT is the registration authority for BICs. BICs are used in financial transactions, client and counterparty data bases, compliance documents and many others.

A BIC consists of eight or eleven characters, comprising a financial institution code (four characters), a country code (two characters), a location code (two characters) and, optionally, a branch code (three characters).

BIC of CIBC First Caribbean International Bank (Bahamas) Ltd and its components are shown in the table below.

BIC  FCIBTCGP
Bank BIC Code  FCIB
Country Code  TC (Turks and Caicos Islands)
Location Code  GP
Branch Code  -

European Presence: 8 banks in 5 countries

CIBC First Caribbean International Bank (Bahamas) Ltd operates under the brand name FirstCaribbean Bank. This banking brand has presence in the following European countries and selected dependent territories of the European countries:

Anguilla

British Virgin Islands

Cayman Islands

Curacao

Turks and Caicos Islands

  • (this bank) CIBC First Caribbean International Bank (Bahamas) Ltd (Providenciales)