CIBC First Caribbean has officially exited Belize. As we reported back in August, the bank said it was selling its assets to Heritage Bank and pulling out of Belize. The news comes as a surprise for many Belizean residents who have been waiting years for HSBC to exit Belize, which is one of only two countries where HSBC still operates under an operating license.
CIBC First Caribbean has officially exited Belize. As we reported back in August, the bank said it was selling its assets to Heritage Bank and pulling out of Belize. Canadian banks continue to withdraw from Caribbean markets due to concerns over their ability to maintain AML policies to the standard demanded by regulators.