CIBC Caribbean Bank Limited has netted US$159.7 million profit despite making a loss on a “non-core investment”.
This follows a financial year in which the bank’s chief executive officer (CEO) Mark St. Hill said it built “the largest performing loan book in our history”.
His review accompanied the published summary consolidated financial statements for the financial year ended October 31.
“For the fiscal year ended October 31, 2025, the bank reported net income of US$159.7 million, compared with US$277.5 million in the prior year,” St. Hill said.
“Results for 2025 include a US$56.2 million fair value loss on a non-core investment, and a US$2.4 million net gain related to the previously announced divestitures. Excluding these items of note, adjusted net income was US$213.5 million, compared with an adjusted net income of US$285.2 million in 2024.
“The decline in adjusted earnings was primarily due to higher provision for credit losses and increased income taxes following the adoption of the Global Minimum Tax Framework in The Bahamas.”
The CEO noted that “in 2025, the bank continued its commitment to client-led growth, elevated client experience and strengthening its operational resiliency”.
“Our client focused strategy across our regional footprint supported by a strong capital position, allowed us to build the largest performing loan book in our history,” he reported.
“This resulted in the bank delivering a solid underlying core performance while we navigated select credit and operational pressures within a shifting macroeconomic landscape.”
St. Hill added that “Caribbean economic activity continued to expand moderately in 2025, though momentum softened as tourism growth eased in several markets and global conditions became more uncertain”.
“Inflation generally declined alongside lower commodity prices, while fiscal positions improved in some territories,” he stated.
“Risks from shifting global trade policies, geopolitical tensions and weather-related disruptions persist, but the regional outlook is broadly stable heading into 2026 with steady domestic demand and ongoing investment.”
CIBC Caribbean’s revenue for the year “reflected solid underlying core performance”, he explained.
“While net interest income was negatively impacted by a lower US interest rate environment, this was largely offset by the earnings impact from strong loan portfolio expansion. Excluding the fair value loss previously mentioned, we experienced steady growth in core activity-based operating income,” the CEO said.
The bank’s operating expenses related to its continuing operations increased by six per cent or US$26 million compared with the prior year”.
He said the increase “was driven by higher employee related costs, continued investment in key strategic initiatives, increased technology costs, activity based costs and non-credit losses”.
“The provision for credit loss was significantly up from the prior year primarily due to higher provisions related to impaired debt securities and loans, as well as updated credit loss model assumptions. Our underlying credit quality remains strong,” St. Hill stated.
He also said that CIBC Caribbean’s capital position remains a key strength, as “at fiscal year end, the tier one and total capital ratios stood at 18.3 per cent and 20.8 per cent, respectively, both comfortably exceeding regulatory requirements”.
“Reflecting our strong capital base and confidence in the long term outlook, the board of directors approved a quarterly dividend of US$0.0125 per share, payable on January 15, 2026, to shareholders of record as of December 18, 2025,” he said.
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