The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

WITH the proliferation of small businesses and retail outlets in the Carmichael Road area, CIBC First Caribbean International Bank (Bahamas) managing director, Marie Rodland-Allen, told Tribune Business yesterday it was “imperative” that the bank have a presence in the area.

CIBC FirstCaribbean officially opened its 14th New Providence branch at the junction of Carmichael and Blue Hill roads yesterday.

Mrs Rodland-Allen told Tribune Business: “The Carmichael road area is probably the fastest growing area, not just in New Providence but probably in any other community across the Bahamas. I think for any major bank the question is why not to be here. It’s city on its own.

“For a bank the size of CIBC First Caribbean it was imperative for us to have a presence here. Our customers have been asking for it ,and so we are delivering what they have asked us for.”

Mrs Rodland-Allen said 18 persons will be employed at the new branch. “There were a lot of employees who wanted to be a part of this branch,” she said .

Mrs Rodland-Allen would not give a figure on how much had been invested into the new branch, but said:”I don’t want to give numbers but I can say it was very expensive.

“We decided that if we were going to build this type of branch we weren’t going to go with the same old equipment. This is supposed to revolutionise banking, and so the equipment is just more expensive. That’s just technology. You get what you pay for.”