CIBC FirstCaribbean International Bank is reporting increased profits. Chief executive officer (CEO) Gary Brown reported continued strong results in his review, which accompanied the bank’s consolidated financial statements for the six months, ended April 30, 2016.
The US$73 million earned in the six month period was 40 per cent more when compared to the corresponding period last year.
Mr. Brown said total revenue was US$270 million, an increase of five per cent, compared with the prior year, primarily due to lower funding costs and higher non-interest income.
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