CIBC FirstCaribbean Flagship Branch to Open Next Week

Bridgetown, Barbados– Next Friday CIBC FirstCaribbean will throw open the doors of its newest state-of-the-art branch, a stone’s throw from its Headquarters at Warrens in Barbados, to its customers.

Employing 39 staff, the 13,700 square-foot Warrens Banking Centre represents the Bank’s latest investment in its network of branches and Instant teller® (ABM) machines across the Caribbean.

Within the last three years, the Bank has opened new branches at Orange Walk in Belize, Carmichael Road in the Bahamas, Old Parham Road in Antigua, Sunset Crest and Wildey in Barbados, and Rodney Bay in St. Lucia, and refurbished most of its other branches across its footprint. The Bank has also opened an impressive Wealth Management Centre in Port of Spain, Trinidad. Additionally, CIBC FirstCaribbean has installed 8 new ABMs, bringing the number of machines in its network to 142, and has refurbished and upgraded 13 others as part of its “Evergreen” programme, designed to keep pace with technology updates in the financial services industry.

The Warrens Banking Centre, built at a cost of $5M US, will be the Bank’s flagship branch.

It’s CIBC FirstCaribbean’s first branch in the region to use a new design code, and will bear a striking similarity to the branches of the bank’s parent, CIBC.

The branch will feature the latest banking has to offer, including several technology innovations such as a “Learning Zone”, which allows customers visiting the branch to explore the bank’s products and services using both desktop computers and iPads.

As expected in today’s fast-paced environment, there will be a self service area. This special area will be accessible to customers via the main branch entrance even when the banking hall is closed for the day. In this area, customers can check their accounts, make deposits night via the night facility, make fast deposits and use the Instant teller® machines – 24 hours a day.

The new flagship branch will also feature the Bank’s latest service innovation, the Mortgage and Loan Centre, which is designed to provide quick turnaround times for customers applying for loans and mortgages via the Bank. The branch also features a drive-through Instant teller®.

Managing Director for Retail and Business Banking, Mark St. Hill, and Managing Director of the Bank’s Barbados business, Donna Wellington, took the Chief Executive Officer of CIBC FirstCaribbean, Rik Parkhill, on a walkthrough of the new branch this afternoon, as its preparations for its opening to the public near completion. The branch was a hive of activity, as the finishing touches were being put in place ahead of the opening next week. On viewing the new facility, Mr. Parkhill remarked: “We intend to lead the Caribbean in customer service, that’s why we have made this investment in our facilities. New branches of this calibre and all the upgrades we have made, along with the ongoing commitment of our people, will help us to achieve that goal”.

Mr. St. Hill noted:”This is a significant investment in our physical plant, and again demonstrates the commitment of our bank and our parent CIBC, to the Caribbean. This is exciting development for our bank and we in turn are excited at the opportunities it opens up for our service delivery to our clients. This new way of doing banking shows that we have been listening to our customers when they tell us what they need from us. The Mortgage and Loans Centre, with its emphasis on fast processing of loan applications is something that we have been working on for a while, and I am very pleased to see it come to fruition.”

Ms. Wellington added: “Warrens has become one of the major business areas in Barbados and the expansion is continuing, so we are pleased at the prospect of offering a full range of our services at this branch. We believe our customers will be very impressed at the level of service this new facility will offer. The work we are doing on our branch network will not stop at Warrens. We are upgrading the entire branch network in Barbados to meet the changing needs of our full range of customers.”

The new branch will bring CIBC FirstCaribbean’s network in the Caribbean to 68 branches.