CIBC Announces Strategic Exit from Caribbean Market with $1.6 Billion Divestiture
Canadian Imperial Bank of Commerce (CIBC) announced on Tuesday a definitive agreement to sell its 91.7% stake in CIBC Caribbean to the Bermuda-based Bank of N.T. Butterfield & Son. The transaction, valued at approximately $1.6 billion, marks a significant strategic pivot for the Toronto-based lender as it seeks to streamline its international footprint and return…