NASSAU, BAHAMAS — CIBC FirstCaribbean’s managing director Dr Jacqui Bend said yesterday that the closure of the bank’s Palmdale branch at month’s end is a continuation of the bank’s efforts to repurpose its branch network to serve its clients more efficiently across the region.
The bank has announced that it will close its Palmdale branch permanently on August 31st, 2022.
Bend, in making the announcement, said: “We regret this development; however, our bank recognizes that our client’s needs are changing, and we remain committed to meeting these evolving needs. We are even more focused within the climate of evolving technology advancements on creating product options that focus on security, convenience, and ease of doing business.”
Bend noted that all branch employees were offered positions at other branches but also have the option to take severance as per labor guidelines.
She said letters have been sent to clients informing of the closure and alternate arrangements put in place. She noted that all checking, savings, and term (fixed) deposit account holders and business banking clients will be accommodated at the Harbor Bay branch. All retail loan clients can now do their banking at the Shirley Street branch.
“We understand that the closure of Palmdale may be inconvenient to some of our clients, but we hope that this will be tempered by the knowledge that they have many more avenues available to conduct their banking that is also convenient, safe, and practical, using our mobile or online banking platforms or our other branch locations,” Bend said.
She added: “Additionally, the closure of the Palmdale branch represents a continuation of the work previously started to repurpose our branch network to serve our clients more efficiently across the region.”
