CIBC FIRSTCARIBBEAN ANNOUNCES CLOSURE OF ITS RETAIL BRANCH AT RENDEZVOUS – WILL OPEN ULTRA-MODERN SALES CENTRE IN ITS PLACE

CIBC FirstCaribbean today announced it will close its retail branch at Rendezvous Christ Church on 7th August 2015.

However, Managing Director, Retail, Business and International Banking Mark St. Hill said the bank would shortly begin work to convert that space into an ultra-modern Sales Centre featuring an expanded Loan and Mortgage Centre to be opened in November this year.

He also announced that there would be no job losses as a result of the closure of the retail branch and the workers there would be absorbed at the bank’s other retail locations across the island.

St. Hill said the new Sales Centre "will utilize over 6,600 square feet of space and will allow us not only to expand our loans and mortgage offerings but also our Platinum Banking Services. The new facility will also help us to better cater to our, Business Banking and International Banking Clients".

St. Hill said the new Sales Centre “will utilize over 6,600 square feet of space and will allow us not only to expand our loans and mortgage offerings but also our Platinum Banking Services. The new facility will also help us to better cater to our, Business Banking and International Banking Clients“.

CIBC FirstCaribbean’s Managing Director for Barbados, Donna Wellington, said while the bank regretted the inconvenience the closure may cause some customers, the repurposing of the retail branch into the new facility would ultimately benefit an increased number of customers who will also have access to a wider range of services from that location.

This is part of our on-going restructuring of our business to better position ourselves to adequately and effectively meet the needs of our customers. This will have an add-on beneficial effect for our staff, shareholders and the overall economy,” Wellington said.

She said the bank would formally write to all of its customers of the Rendezvous branch informing them of the closure and outlining their banking options. Ms. Wellington added that the ABMs currently located at the Rendezvous location will remain operational throughout the period of construction, and these, along with the bank's wider ABM network across the island and its free internet banking service, will provide its customers with continued access to their accounts.

She said the bank would formally write to all of its customers of the Rendezvous branch informing them of the closure and outlining their banking options. Ms. Wellington added that the ABMs currently located at the Rendezvous location will remain operational throughout the period of construction, and these, along with the bank’s wider ABM network across the island and its free internet banking service, will provide its customers with continued access to their accounts.

Furthermore, after the cessation of the bank’s retail (Personal Banking) services at Rendezvous, retail customers can continue to conduct their banking at any of the bank’s seven other locations in Barbados.

“We recognize that the closure of the retail branch at Rendezvous may be an inconvenience to some of our customers and we will do all that we can to guide them to the alternative arrangements which are in place and to make the process as easy as possible for them,” Wellington said.

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