Cibc Unveils Dorian Client Relief Measures


Tribune Business Editor


CIBC FirstCaribbean has unveiled a series of measures to assist with the rebuilding process for clients impacted by Hurricane Dorian.

The bank, in a statement, said it will provide special loans, deferred payments and other concessions for customers in Abaco and Grand Bahama whose lives were devastated by the category five hurricane.

Colette Delaney, CIBC FirstCaribbean’s chief executive, who recently travelled to The Bahamas and saw some of the destruction caused by Dorian first-hand, said she and “all employees of the bank were shocked at the level of destruction on the Abaco islands and Grand Bahama, and were moved to help in any way we can”.

She added that a similar financial relief package has already been extended to all bank employees impacted by the hurricane.

“Our commitment to our staff and clients is unwavering, and we are determined to do all that we can to facilitate them as they rebuild their lives, homes and businesses,” said the bank’s Bahamas’ managing director, Marie Rodland-Allen.

She added that CIBC FirstCaribbean is offering affected eligible retail, corporate and credit card clients who were resident - or have businesses - in Abaco and Freeport:

• A temporary moratorium on loan payments for up to three to six months.

• Short-term financing to assist with pre-funding insurance claims for property repair and asset restoration.

• Deferred payments on credit cards for up to three months.

Mrs Rodland-Allen urged affected clients to contact their lending officer or visit any branch or corporate banking centre.


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