FirstCaribbean Declines Comment on Merger

The acquisition of RBTT by FirstCaribbean is apparently still in the works, but those involved are keeping mum. “We do not comment on market rumors,” a senior FirstCaribbean official tells LatinFinance, in response to questions about the deal. Caribbean-based bankers said earlier this summer that the two financial institutions were still hammering out a price. According to people close to the banks, the combined entity would have assets of almost $20 billion, making it the biggest in the region. The retail and corporate/investment banking operations are seen as complementary and forming a regional banking powerhouse. FirstCaribbean is owned by CIBC.