Category: CAB

The Scourge Of EU Blacklisting

Some have long viewed the Caribbean as a true paradise for vacationers and tax evaders alike. As it relates to the latter, there have been tremendous efforts at the national and regional levels to change this unwarranted narrative. Yet, as a region, we seem to be locked into a perpetual dance with the European Union (EU), being called off and back on to the dancefloor of the proverbial “blacklist.”…

CAB Welcomes New Director

"It is a tremendous pleasure to be able to receive Michael, whom I am certain will play a significant role in advancing our organisational goals and objectives. We are delighted at his willingness to take up the challenge of working with us to serve our members across the region and beyond. Sean's presence will, of course, be greatly missed, and we will continue to cherish his memory and hold him dear to our hearts."…

CAB Director Sean Husain Passes Away

Paramaribo, Suriname, Tuesday, March 24th, 2020: It was with great sadness that the Board and Secretariat of the Caribbean Association of Banks (CAB) Inc. received the news on the evening of Monday 23 March 2020 that Director Sean Husain had passed away. Director Husain took ill suddenly on Monday night, having been involved in calls earlier in the day with fellow CAB Board members. A well-respected figure in the Caribbean banking and financial services sector, Sean had been with Republic…

COVID19 Update on CAB Secretariat Status

Based in Castries, the Secretariat of the Caribbean Association of Banks (CAB) Inc. proactively initiated a remote protocol as of Monday, 16 March, 2020. The CAB office will be closed until 5 April in the first instance, in keeping with the edict of the Government of Saint Lucia. Nonetheless, the five-member Secretariat, led by CEO Ms. Wendy Delmar, remains committed to serving the needs of over 80 members and partners in more than 20 territories, whilst working from home and…

Proposed Sale of Canadian Banks in the Caribbean Under Review

Saint Kitts and Nevis, Friday, February 21st, 2020: Governor Timothy Antoine of the Eastern Caribbean Central Bank (ECCB) has confirmed that his organisation is reviewing applications for the intended sale of banking assets within the Eastern Caribbean Currency Union (ECCU) jurisdiction. Governor Antoine spoke at a press briefing on Friday 14 February 2020, following the 95th Meeting of the ECCU Monetary Council at ECCB headquarters in Basseterre, St. Kitts and Nevis. In November 2019, Canadian Imperial Bank of Commerce declared…

New Country Manager at CIBC FirstCaribbean Saint Lucia

PRESS RELEASE: Mr. Victor Boyce has been appointed to the role of Director Corporate Business Development – Organisation of Eastern Caribbean States (OECS) and Country Head – Saint Lucia for CIBC FirstCaribbean Bank, effective February 1, 2020. Mr. Boyce succeeds Mrs. Ladesa James-Williams in that role. Mrs Williams has been appointed Director, Retail Sales OECS and Country Head in her native Antigua and Barbuda. Mr. Boyce is a career banker with over 20 years’ experience in the industry, fifteen of…

Republic Bank (EC) Meets Saint Lucia Business Community

(Castries, Saint Lucia, February 20, 2020) – Republic Bank (EC), on Thursday 13th Feb 2019, signaled to the corporate community of Saint Lucia that it was ready to do business.  This, at the Saint Lucia Chamber of Commerce, Industry and Agriculture’s first Executive Luncheon for 2020. To a packed room of over 70 business executives from various sectors including shipping, legal, commerce, banking, insurance, manufacturing and other business support services, guest speaker Michelle Palmer-Keizer, Managing Director of Republic Bank (EC),…

Baldwin Taylor Appointed To Lead Bank of Montserrat

The Bank of Montserrat recently announced the appointment of its new General Manager, Mr. Baldwin Taylor, who took up office on January 2, 2020. He succeeds Mr. Michael Joseph who retires as General Manager after serving for 10 years in the position. During his tenure, the Bank grew exponentially, recording growth in assets of 47%, moving from $171M in 2009 to $252M in 2018; and Loans growth of over 100%, increasing from $46M in 2009 to $94M in 2018. The…

RBC announces sale of Eastern Caribbean banking operations

(PRESS RELEASE) – Royal Bank of Canada (RY on TSX and NYSE) today announced it has entered into definitive agreements to sell all banking operations in the Eastern Caribbean to a consortium of indigenous banks within the region. The transaction is subject to regulatory approval and other customary closing conditions, and is expected to be finalized in the coming months. “Consistent with our strategy of being a competitive leader in the markets where we operate, RBC is always evaluating opportunities…