CIBC Caribbean Bank yesterday declared net income of US$50.29 million for the quarter ended January 31, 2026, a decline of 9.80 per cent compared to the US$55.75 million the company earned for the same quarter in 2025.
The bank, which is headquartered in Bridgetown, Barbados, reported an increase in income before taxation from continuing operations of US$5.5 million or 9 per cent to US$68.8 million. However, CIBC said, higher income tax expenses resulted in a decrease in net income compared to the prior year. The bank’s income tax expense more than tripled to US$18.55 million in its first quarter of its current financial year, from US$5.27 million in the prior year.
In his review of the unaudited quarterly financials, CIBC Caribbean CEO, Mark St Hill said total revenue of US$196.2 million increased by US$3.1 million or 2 per cent year over year on an adjusted basis, reflecting continued asset growth, partially offset by lower US interest margins.
“While movements in forward-looking US benchmark interest rates may continue to influence net interest income, strong and consistent client demand across our markets is supporting our balance sheet growth,” St Hill said.
CIBC maintained its quarterly dividend at US$0.0125, which is payable on April 23.
