Published On: Thu, Apr 2nd, 2020

CIBC FirstCaribbean announces large donation

CIBC FirstCaribbean Banking Centre - 2020022301 JH

PHILIPSBURG – CIBC First Caribbean donates $250,000 through its international ComTrust Foundation for the purchase of COVID-19 testing kits to the sixteen countries across the Caribbean where it operates. If evenly divided, each country will receive $15,625. The bank will make its donations through its operating companies in each country.

Colette Delaney, the bank’s Chief Executive Officer and also the chairlady of the Comtrust Foundation, announced the donations in a press statement, saying, “Testing was one of the main weapons in the arsenal against the spread of the disease. Community spread is one of the main ways the virus is transmitted; testing is key to identify, isolate and treat those affected and limit its spread.”

Delaney thanked regional public health leadership, medical professionals and frontline workers for their efforts.

FirstCaribbean has also come to the rescue of its “eligible clients” with a six-month moratorium on loan and mortgage payments and temporary revolving or working capital financing options for corporate banking and business banking clients.

The bank also offers a special waiver of late payment fees and default interest for existing loans and mortgages to all eligible retail, business banking, corporate investment banking and wealth management clients for the duration of the six-month moratorium.

Lastly, credit card holders will automatically benefit from a payment waiver for three months; this is however based on their current account standing.

“Our response has been in the spirit of partnership that has always existed between the bank and the people of the region,” Delaney said. “This two-pronged approach has allowed us to not only contribute to the national response in each of the countries where we operate, but to directly assist our clients.”

Delaney said that many of the bank’s employees are making personal donations to relief programs in their countries. “Our employees are known for their calm and professional response, particularly in a crisis. We thank them for their generosity and commitment to provide service to our clients in these most unusual circumstances.”

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