CIBC Caribbean Acquired by Butterfield | Financial Services M&A Deal

Butterfield has acquired CIBC Caribbean, a banking business in the Bahamas, for $1.8 billion. The CIBC Caribbean acquisition expands Butterfield’s financial services footprint by adding retail and commercial banking operations for customers across the region. Butterfield acquisitions in banking acquisition and financial services M&A are designed to strengthen deposit gathering, lending capabilities, and cross-selling of banking products in the Bahamas. The strategic acquisition is an announced deal valued at over $100M, structured as a strategic acquisition within broader financial services M&A.