Caribbean International Bank PESTLE Analysis
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Assignment Details:
- Words: 2000
INTRODUCTION
FirstCaribbean International Bank Limited (CIBC First Caribbean), a subsidiary of CIBC Investments (St Kitts) Limited, CIBC First Caribbean primarily has operations in the Caribbean. CIBC First Caribbean is headquartered in Saint Michael, Barbados. The bank is licensed by the Eastern Caribbean Central Bank under the applicable Banking Act 2015 to facilitate business in the Eastern Caribbean Currency Union (ECCU).
CIBC First Caribbean’s banking knowledge was acquired through our heritage organizations Barclays PLC and CIBC, combining nearly 250 years of experience in the Caribbean. Both are the oldest banks in the Caribbean. First Caribbean was founded in the Caribbean in 2002 by the merger of CIBC West Indies Holdings and Barclays Bank PLC. In December 2006, CIBC acquired shares from Barclays and became the controlling shareholder of First Caribbean. On June 20, 2011, we proudly announced that we have established a co-brand under the CIBC banner and will adopt the CIBC First Caribbean brand.
CIBC FirstCaribbean is the largest, regionally listed bank in the English and Dutch speaking Caribbean serving over 500,000 accounts in 17 markets, across 100 branches and offices. First Caribbean offers a full range of financial services through our Corporate and Investment Banking, Retail and Business Banking and Wealth Management segments portfolios.The bank portfolio of offerings consists of an array of accounts and deposits; mortgages and loans; debit and credit cards, merchant services, cash management, international banking, and mobile and online banking among others. CIBC offers investment banking solutions in the areas of corporate finance, debt, equity, and capital markets.
A PESTEL framework is a marketing theory used to analyze how Political, Economic, Social, Technological, Environmental, and Legal external factors influence or impact an organization (“Professional Academy”, 2018).
This analysis can be used to determine the major external environmental factors that shape the strategy and competitiveness. The PESTEL framework is a fundamental tool for business planning and strategicdecision-making process.
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