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

Butterfield has acquired control of CIBC Caribbean, a banking business in the Caribbean, for $1.8 billion. The CIBC Caribbean acquisition expands Butterfield’s financial services footprint by adding retail and commercial banking capabilities for customers across the region. Butterfield acquisitions in banking acquisition strategy support growth in deposits, lending, and cross-border client services. The strategic acquisition is structured as a divestiture acquisition and is part of broader financial services M&A activity, with deal terms expected to close following regulatory approvals.