Canadian Imperial Bank of Commerce (CIBC) is pulling out of the region and will be selling its shares in regional operations on the New York Stock Exchange (NYSE).

Director of corporate communications at First Caribbean International Bank (FCIB), Debra King, while confirming the move said that while CIBC is a respected name in the market, it is not critical to the brand presence of FCIB.

The Bank has confirmed that it has filed a registration statement with the US Securities and Exchange Commission for the IPO. The number and price of shares has not been disclosed.

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