No job losses from branch closure, assures CIBC FirstCaribbean

CIBC FirstCaribbean has announced the closure of its retail branch at Rendezvous, Christ Church, effective August 7, with a top company official assuring there will be no job losses as a direct result of the move.

CIBC First Caribbean’s Mark St. Hill.
CIBC First Caribbean’s Mark St. Hill.

Managing Director, Retail, Business and International Banking Mark St Hill said workers at Rendevous will be absorbed at the bank’s other retail locations across the island.

With the closure of the bank, Hill also said the company will 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.

The new 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”, he added.

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 ongoing 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.

Wellington added that the ABMs currently located at the Rendezvous location will remain operational throughout the period of construction.

The bank has seven other locations in Barbados.

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