CIBC FirstCaribbean said it has won Bank of the Year for The Bahamas for the tenth time as part of the awards issued by the finance magazine, The Banker.

Colette Delaney, CIBC FirstCaribbean’s chief executive, said: “The Bank of the Year award is an international acknowledgement which highlights achievements in areas critical to success in the banking industry.

“I cannot thank the CIBC FirstCaribbean Bahamas team enough for their hard work and dedication. This is what happens when we work together for the benefit of our clients and stay true to the values of the organisation - trust, teamwork, and accountability.”

Ms Delaney added: “CIBC FirstCaribbean is undoubtedly a strong example of best practice implementation that, in turn, has significant impact on business results and the banking industry overall. This year we have remained steadfast in our commitment to demonstrating the many benefits we offer, increasing our innovation and using technology for advancement.”

The Banker, explaining why it selected the bank, said: “A solid capital base put CIBC FirstCaribbean’s Bahamian operations in a good position as customers began requesting financial assistance when COVID-19 hit the country.

"All segments of the bank were involved in these efforts, from retail to corporate banking and wealth management. They resulted in deferred payments, emergency loans and concessions to help individuals and businesses cushion the financial impact of the pandemic on households and the economy."

Gezel Farrington, CIBC First Caribbean’s director of retail banking channels, added: “The best bank award is a celebration of CIBC FirstCaribbean’s daily illustration of its strategic priorities: Focus on our clients, building on our technology base to create a regionally leading digital experience for our clients, simplifying the way we do business, and investing in our people.”

Kemar Polius, its head of corporate and investment banking, said: “The delivery of Corporate Online demonstrates the bank’s commitment to provide our clients with a modern digital banking experience, allowing them to manage their liquidity and payments easily and efficiently.

"Our recognition by The Banker is a testament to this commitment, and we look forward to continuing, and advancing, all that is being done to keep CIBC FirstCaribbean as the first choice for financial services.”

CIBC FirstCaribbean also won Bank of the Year for The Bahamas in 2006, 2007, 2008, 2009, 2012, 2013, 2016, 2017 and 2018.