Butterfield to acquire CIBC Caribbean in $1.8 billion transaction
Published on June 1, 2026
Michael Collins, Butterfield’s Chairman and Chief Executive Officer
The Bank of N.T. Butterfield & Son Limited has entered into a definitive agreement to acquire CIBC’s 91.7% interest in CIBC Caribbean Bank Limited.
This is expected to create a leading banking and wealth management platform in international financial centers and attractive Caribbean markets, with approximately $29 billion in assets.
The transaction brings together two complementary banks with deep roots and established relationships across their combined footprint with heightened capacity, greater diversification and scalable growth to drive long-term value for all stakeholders.
Mark St. Hill, Chief Executive Officer of CIBC Caribbean
Butterfield and CIBC Caribbean’s expanded capabilities and scale are expected to provide enhanced corporate, personal and wealth management services across their combined client bases.
Butterfield will maintain both organizations’ operational footprints, including CIBC Caribbean’s regional headquarters in Barbados, ensuring continuity for customers and employees.
Butterfield is also committed to its and CIBC Caribbean’s philanthropic, financial education, and sustainability initiatives in each of their geographies, which will continue to provide outsized, tangible and mutually beneficial financial impacts for the combined company and its communities.
