Prime Minister and former Minister for Finance, Dr. The Rightย Honorable Keith Mitchell, has welcomed the decision by Grenada Co-operative Bankย Limited to acquire the banking operations of CIBC FirstCaribbean in Grenada.
The move is part of an initiative by a Consortium of leading Indigenous Banks in theย Eastern Caribbean Currency Union to acquire CIBC FirstCaribbean operations inย Grenada, Dominica, St. Kitts and Nevis and St. Vincent and the Grenadines.
Managing Director of Co-operative Bank, Mr. Richard Duncan and Managing Directorย Designate, Mr. Larry Lawrence briefed the Prime Minister on the impending acquisition ahead of the official announcement. They assured the Prime Minister of the local bankโs ability to manage the soon to be acquired assets, and reiterated the strength of its risk management and governance structures.
The Prime Minister applauded the local bankโs participation in this major regional initiative, saying, โTodayโs environment is for innovative and ambitious people. This significant, strategic move is indicative of the tremendous growth Grenada Co-operativeย Bank has experienced over the years. Having witnessed that growth myself, I must say Iย am proud of the institution and the tremendous potential for future growth that will beย created by this acquisition.โ
