By YOURI KEMP

Tribune Business Reporter

ykemp@tribunemedia.net

CIBC FirstCaribbean has announced that its Palmdale branch will close permanently on August 31, 2022.

CIBC FirstCaribbean’s managing director, Dr Jacqui Bend, in making the announcement, said: “We regret this development; however, our bank recognises that our clients’ needs are changing, and we remain committed to meeting these evolving needs. We are even more focused within the climate of evolving technology advancements on creating product options that focus on security, convenience, and ease of doing business.”

Dr Bend noted that all branch employees were offered positions at other branches but also have the option to take severance as per labour guidelines.

She said letters have been sent to clients informing of the closure and alternate arrangements put in place. She noted that all checking, savings and term (fixed) deposit account holders and business banking clients will be accommodated at the Harbour Bay branch. All retail loan clients can now do their banking at the Shirley Street branch.

“We understand that the closure of Palmdale may be inconvenient to our some of our clients, but we hope that this will be tempered by the knowledge that they have many more avenues available to conduct their banking that are also convenient, safe and practical, using our mobile or online banking platforms or our other branch locations,” Dr Bend added.

She observed, “Additionally, the closure of the Palmdale branch represents a continuation of the work previously started to repurpose our branch network to serve our clients more efficiently across the region.”