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CIBC FirstCaribbean Reporting 46% Jump In Net Income

CIBC FirstCaribbean Reporting 46% Jump In Net Income

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Gary Brown Chief Executive Officer of CIBC FirstCaribbean is reporting a 46% jump in net income of US$143.3 million, up US$45.4 million for the fiscal year ended October 31, 2016

Lower loan loss impairment expense contributed significantly to this result, as the Bank benefited from increased loan recoveries and an improved loss experience he reported.

With earnings per share of eight point nine cents the Board has fixed a final dividend for the year of $0.025 per share, bringing the total dividend to $0.045 per share for the year, an increase of $0.010 over 2015.

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