PHILIPSBURG--In the wake of Hurricanes Irma and Maria, CIBC FirstCaribbean International Bank (FCIB) has offered relief to its retail, corporate and credit card clients.
The bank said it will work closely with all its retail clients, particularly those whose homes and property were damaged or destroyed as a result of Hurricane Irma. “Our aim is to provide manageable financial solutions customised to your individual needs and geared to helping you to get back on your feet,” CIBC FirstCaribbean’s Managing Director, Corporate and Investment Banking Pim van der Burg told The Daily Herald on Thursday in response to several questions on the subject.
FCIB will be facilitating loan financing to assist in the rebuilding efforts. Its Relationship Managers will also be available to discuss clients’ financing needs. This includes new requests for financing and moratoriums on loans and mortgage repayments as needed.
The institution’s Corporate and Investment Banking is offering corporate clients a three-month moratorium on loan payments as well as flexible loan-financing terms to assist with pre-funding insurance claims for property repair, asset restoration and other special considerations. Temporary revolving financing options are also available to facilitate recommencement of business operations.
Eligible Corporate Banking clients who wish to benefit from the three-month moratorium or require financing assistance should contact their Relationship Manager by telephone or by visiting their branch at the earliest opportunity to discuss their specific needs.
For credit card clients, FCIB has waived the payment due dates for September. Clients also will not be deemed delinquent if no payments are made and will still be able to access available balances. No late fees or delinquent interest will be applied to outstanding balances.
“We also advise credit card customers who may need extended credit on their card accounts to contact our Customer Care and Contact Centre at 1-866-743-2257,” Van der Burg told this newspaper.
Most of FCIB’s branches sustained wind and water damage. All have been cleaned up and re-opened excepting Phillipsburg and Roseau, Dominica.
“The branch at Cole Bay is up and running. Work continues on bringing our Phillipsburg branch at Emmaplein back online as soon as possible. All our other branches in the affected territories in the Northern Caribbean have re-opened for business,” Van der Burg added.
“We cannot praise our staff enough. Despite their own loss and dislocation, they volunteered at the earliest opportunity to get our banking systems back up and functioning so we could serve our clients. Access to cash and other banking services is crucial in crisis situations and to aid in rebuilding efforts, and our staff rose to the challenge to ensure we had our Cole Bay branch ready for re-opening eight working days after the storm’s impact.”
Asked what the total losses sustained by the bank during Hurricanes Irma and Maria had cost, as well as rebuilding cost, Van der Burg said: “We are still making an assessment and will be able to answer this question at a later date.”
