Barbados Today – The Barbados-based CIBC FirstCaribbean International Bank is about to be acquired by Colombian billionaire Jaime Gilinski, according to media reports out of Bogot\u00e1. According to the Peruvian newspaper La Rep\u00fablica, \u201cThe Gilinski Group led by Jaine Galinski remains active in terms of purchases in terms of the financial sector. <\/p>\n
The holding company with presence in several markets will now expand its field of operation as it will acquire the First Caribbean International Bank that has a presence in 16 Caribbean countries.\u201d Details of the acquisition are expected to emerge next week.<\/p>\n
In a brief comment to Barbados TODAY about the development, CIBC said: \u201cCIBC FirstCaribbean International Bank Limited is a strong, well-performing business that continues to grow across the region. As a publicly-traded company in the Caribbean, there has always been investor interest in our bank. \u201cOur focus is on enhancing our long-term growth prospects while creating value for our clients, shareholders, and other stakeholders. <\/p>\n
If and when decisions are made about our business, we\u2019ll advise our stakeholders as appropriate.\u201d CIBC FirstCaribbean is a subsidiary of the Toronto-based Canadian Imperial Bank of Commerce (CIBC), which became majority shareholder in the organization at the end of 2006.<\/p>\n","protected":false},"excerpt":{"rendered":"
Barbados Today – The Barbados-based CIBC FirstCaribbean International Bank is about to be acquired by Colombian billionaire Jaime Gilinski, according to media reports out of Bogot\u00e1. According to the Peruvian newspaper La Rep\u00fablica, \u201cThe Gilinski Group led by Jaine Galinski remains active in terms of purchases in terms of the financial sector. The holding company<\/p>\n","protected":false},"author":8,"featured_media":7505,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1,6],"tags":[],"class_list":["post-7503","post","type-post","status-publish","format-standard","has-post-thumbnail","category-mainstory","category-regional-and-international-news"],"yoast_head":"\n