CIBC FirstCaribbean International Bank customers will soon see the current 2.5 per cent minimum savings rate reduced to between one and two per cent.
Donna Wellington, managing director of the Barbados operating company, which includes the Organisation of Eastern Caribbean States and Belize, told the DAILY NATION this was “the range that will allow alignment over time with the market metrics”.
But she also assured FirstCaribbean customers, who she described as among the biggest savers in Barbados, that the bank would continue to give them a range of viable options through which they could see the value of their money grow.
Wellington was speaking after she and other members of the institution’s senior executive team – led by chief executive officer Rik Parkhill – hosted a media engagement luncheon at Bellevue House, Waterford, St Michael, yesterday. (SC)
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