NASSAU, BAHAMAS- CIBC Caribbean Bank (Bahamas) Ltd. reported net income of $24.8 million for the third quarter ended July 31, 2025, compared with $33 million in the same period last year.
In a review of the results, Mark St. Hill, Chief Executive Officer of CIBC, said the bank continues to execute its client-focused strategy and has delivered resilient performance across its core business activities. He noted that the balance sheet remains strong, underpinned by sustained year-over-year growth in both loan and deposit portfolios, along with adequate liquidity coverage.
The quarter’s revenue uplift, however, was offset by the impact of lower U.S. interest rates and higher funding costs. Provisions for credit losses were also elevated, driven by updates to model assumptions and methodology.
For the nine months ended July 31, 2025, CIBC Caribbean Bank (Bahamas) reported net income of $84.7 million, down from $103.6 million a year earlier. The decline was attributed to higher provisions for credit losses—last year included a significant recovery—as well as higher income tax expenses tied to the transition to the global minimum corporate tax framework.
At the end of the third quarter, the bank’s Tier I and total capital ratios stood at 27.7 percent, exceeding regulatory requirements and reflecting a robust capital position. The Board of Directors also approved an interim dividend of nine cents per share, subject to regulatory approval.
“We remain confident in the strength of our strategy and our capital position,” St. Hill said.
