PRESS RELEASE – Despite economic challenges within the region, there are new opportunities for entrepreneurship that are realized every day. With this in mind, CIBC FirstCaribbean continues to demonstrate a strong commitment to the business sector throughout the region through its Business Banking services.
The bank partnered with BDO Eastern Caribbean to deliver an insightful presentation that addressed areas that are key to business owners in the context of the present economy.
The event, held at the Coco Palm Resort, commenced with opening remarks by Manger Retail Banking and Operations, Portia Compton-James, who noted, “we view this event and the subsequent ones which will take place in other locations across our regional footprint as two fold. Firstly, to fulfill our ongoing quest to deepen and maintain the conversation with you our clients and, second, to enhance your experience by introducing you to our expanded range of Business Banking products and services to help you achieve your business goals”.
This was followed by a presentation made by Brenda Duncan, Managing Partner of BDO Eastern Caribbean, on significant topics such as the importance of record keeping, statutory obligations of business owners, the essentials of effective financial management and accounting, access to capital and accounting systems and software. Ms. Duncan also delved into issues of managing the capital structure of local business as well as providing insight into the separation of commercial and personal business with regards to financial record keeping.
Lester Wilson, Branch Manager with CIBC FirstCaribbean, introduced CIBC FirstCaribbean’s renewed client focus of enhancing the banking experience of entrepreneurs through the introduction of an expanded range of business banking products and services including a Business Banking Line of Credit and the Merchant Services Overdraft facility, along with Foreign Currency accounts for the Business Banking segment.
He also made mention of a new Business Planning Guide produced by the Bank’s Business Banking team, which assists business owners with planning, analyzing and representing their business with respect to expansion, credit and investment. These enhancements seek to recognize, facilitate and meet the needs the business owners, thereby reinforcing the entrepreneurial spirit of business.
The session concluded with a mix and mingle cocktail, where business owners sought further insight one-on-one with BDO partners and CIBC FirstCaribbean Business Relationship Managers who provided advice, the guidance and perspective necessary to improve their business performance.
The Business Banking road show will continue throughout the region where CIBC FirstCaribbean and BDO operate. Commercial customers can anticipate significant changes to CIBC FirstCaribbean’s approach to its Business Banking service, with enhanced and personalized customer service and a larger suite of products and services, including the Mortgage and Loan Centre located at the Rodney Bay Branch.