Noneno decision naming one of its booking entities in ten years
2.8/519 UHNW client ratings across its booking centres
The editor's opinion
Why CIBC Caribbean rates 2.0 out of 5
CIBC Caribbean rates 2.0 out of 5. Its two rated booking centres, in the Cayman Islands and the Bahamas, all hold two stars, so weighting them by the UHNW client ratings each has received leaves the overall rating at the same level. We found no regulatory, criminal or court decision naming one of its booking entities in the last ten years. Across its booking centres, 19 UHNW client ratings average 2.8 out of 5.
Noam Cohen, Editor, Bank IntelligenceReviewed 6 November 2026, Q4 2026 edition. Each booking centre is rated on its own file, from the public record and what clients and their advisers tell us in confidence. The overall rating brings those ratings together; retail products, branches and apps play no part.
Where CIBC Caribbean stands out
No final adverse finding against this licence holder in ten years of regulatory and court records. All centres
Ownership and control are fully public. All centres
No politically exposed person holds a significant stake. All centres
What to weigh
Deposit protection is minimal. Cayman Islands
Only a summary of the custody terms is public. All centres
Almost no private banking services are published for this booking unit. Cayman Islands
Only part of the tariff is published. All centres
No public policy on third-party payments or retrocessions. All centres
This file does not yet show how custody assets are ring-fenced by law in this centre. All centres
Few private banking services are published for this booking unit. Bahamas
An owner's home jurisdiction carries a mixed official assessment against money laundering. Bahamas
Cayman Islands · CIBC Caribbean Bank (Cayman) Limited7 client ratings · 37% of the weight
Bahamas · CIBC Caribbean Bank (Bahamas) Limited12 client ratings · 63% of the weight
PPLI.com rating, weighted across the centres2.0
Each booking centre keeps its own rating, set on its own file. The overall rating is the average of those ratings, weighted by the number of UHNW client ratings each centre has received. A centre whose rating is still in preparation is shown but not counted.
The rating expresses the opinion of PPLI.com on the date shown. It is not a statement of fact about the bank, not a credit rating, not a forecast of failure and not investment advice.
The booking centres
CIBC Caribbean in 2 booking centres
Each booking centre is a separate legal entity, with its own licence, deposit protection, services and fees, and keeps its own PPLI.com rating. Everything on file for them is brought together on this page; open a centre for its own file.
What regulators, prosecutors and courts have decided against the booking entities of CIBC Caribbean, gathered from the files of all its booking centres, with the status, the amounts as published and a link to the original document. Each entry names the centre it concerns. Claims and investigations still under way are marked as open.
We found no regulatory, criminal or court decision naming a booking entity of CIBC Caribbean in the last ten years, in the sources listed below.
Matters concerning other entities in the group (1)
20237 December 2023
Administrative penalty for two violations of Canada's anti-money laundering act
On 23 October 2023 FINTRAC imposed an administrative monetary penalty of CAD 1,329,150 on Canadian Imperial Bank of Commerce, the ultimate parent of CIBC Caribbean Bank (Cayman) Limited, for two violations of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. FINTRAC published the penalty on 7 December 2023 and states that the violations are administrative, not criminal offences of money laundering or terrorist financing.
Shown for context only: the decision concerns Canadian Imperial Bank of Commerce, not CIBC Caribbean Bank (Cayman) Limited, and does not count towards the rating of the booking centre or of the group.
What clients meet at CIBC Caribbean across its booking centres, read from complaint registers, ombudsman decisions and court records, independent reporting and what clients and their advisers tell PPLI.com in confidence. Announcements by the bank, awards and marketing material are left out.
UHNW client ratings
2.8 out of 5, based on 19 client ratings across its booking centres.
Cayman Islands3.7 out of 57 ratings
Bahamas2.2 out of 512 ratings
What clients report
Cayman Islands. The public sources we follow show no client complaint, court claim or incident involving this bank.
Bahamas. The public sources we follow show no client complaint, court claim or incident involving this bank.
Worth raising with the bank
Cayman Islands. Ask what will change for your accounts, the booking entity and its credit support once The Bank of N.T. Butterfield & Son Limited takes control of CIBC Caribbean, expected in the first half of 2027.
Cayman Islands. Ask whether the Cayman bank has its own credit rating, since the ratings shown are those of Canadian Imperial Bank of Commerce, which is selling its stake.
Bahamas. Ask what will change for your accounts and the bank's credit support once The Bank of N.T. Butterfield & Son Limited takes control of CIBC Caribbean, expected in the first half of 2027.
Bahamas. Ask whether the Bahamas bank has its own credit rating, since the ratings shown are those of Canadian Imperial Bank of Commerce, which is selling its stake.
Financial standing
Credit ratings published by the agencies for the companies named in the centre files, dated by the latest agency or bank document that confirms them
Agency
Rating
Outlook
As of
Rated company
Moody's
Aa2 issuer / A2 senior debt subject to bail-in
Stable
Canadian Imperial Bank of Commerce (parent)
S&P
A+ issuer / A- senior debt subject to bail-in
Stable
Canadian Imperial Bank of Commerce (parent)
Fitch
AA+ long-term deposit / AA- senior debt subject to bail-in
The Nassau Guardian reported on 29 May 2026 that The Bank of N.T. Butterfield & Son Limited would acquire CIBC's 91.7 percent interest in CIBC Caribbean, the parent of the Bahamas bank, and then make a mandatory takeover bid for the remaining minority shares of CIBC Caribbean.
The Bank of N.T. Butterfield & Son Limited agreed to buy CIBC Caribbean, the parent of the Cayman bank, in a deal valued at USD 1.794 billion, subject to approvals, with closing expected in the first half of 2027.
What it costs
What CIBC Caribbean charges, centre by centre
Fees are set by each booking entity, so they are shown centre by centre. Two of the two centres of CIBC Caribbean publish a fee schedule, read on 6 November 2026 from the documents linked under each table. To compare banks fairly we put every published fee in US dollars at the same indicative rates and apply it to the same reference amounts, then rate each fee against the average of the other banks that publish it. Five stars is the lowest fee, one star the highest. Terms a family actually negotiates are often different, and a bank can change its schedule at any time.
The published fees side by side
Fee
Cayman Islands
Bahamas
Other banks
Account maintenanceper year
USD 1,800 a year
USD 1,800 a year
USD 1,255 a yearaverage of 26 other banks
Outgoing international transferper transfer, standard
USD 84
USD 82
USD 57average of 61 other banks
Each fee is rated against the average of the other banks that publish it: five stars is the lowest, one star the highest. The schedules, their dates and what each leaves out are listed centre by centre below.
Cayman Islands · CIBC Caribbean Bank (Cayman) LimitedCentre file
Not in the published schedule: custody and safekeeping, discretionary mandate, advisory mandate, equity trade, bond trade, third party fund subscription, currency conversion, minimum annual fee, transfer of securities to another bank, closing the account, lombard loan margin.
Bahamas · CIBC Caribbean Bank (Bahamas) LimitedCentre file
Not in the published schedule: custody and safekeeping, discretionary mandate, advisory mandate, equity trade, bond trade, third party fund subscription, currency conversion, minimum annual fee, transfer of securities to another bank, closing the account, lombard loan margin.
How the comparison works: USD 25 million booked with the bank: half under a discretionary balanced mandate, half in custody with advice; 24 equity trades of USD 250,000 and 8 bond trades of USD 500,000 a year; 6 currency conversions of USD 1 million; 24 outgoing international transfers. Tiered fees are applied to those amounts tranche by tranche, stated minimums are applied, and amounts are converted at indicative rates of 2026-11-06. Read how we compare fees.
The bank at a glance
Identity, protection and services
Ownership
Group parentCanadian Imperial Bank of Commerce (listed, TSX / NYSE) Source
ControlCanadian Imperial Bank of Commerce, 91.7%; controlled by a single owner Source (31 October 2025)
Ownership is shown as published, with its date. It describes who owns the bank; it does not, by itself, suggest any wrongdoing by the bank or its owners.
Booking entities
Cayman IslandsCIBC Caribbean Bank (Cayman) LimitedCayman Islands Monetary Authority (CIMA); group legal page also lists British Virgin Islands Financial Services Commission for this entity · Locally incorporated subsidiary · LEI 549300G4LW1URXF5AC69Licence: Category A banking licence (CIMA Category A bank list, updated 30 June 2022, under the former name FirstCaribbean International Bank (Cayman) Limited) Source
BahamasCIBC Caribbean Bank (Bahamas) LimitedCentral Bank of The Bahamas; Securities Commission of The Bahamas; Insurance Commission of The Bahamas; Turks & Caicos Financial Services Commission (per group legal page) · Locally incorporated subsidiary · LEI 549300C17TCV3TRBWN84Licence: Bank and trust licence: SFI list entry 'LIC0218 CIBC Caribbean Bank (Bahamas) Ltd. Resident Bank & Trust Authorized Dealer' Source
Financial strength, as reported
Credit ratingsMoody's Aa2 issuer / A2 senior debt subject to bail-in (Canadian Imperial Bank of Commerce (parent)); S&P A+ issuer / A- senior debt subject to bail-in (Canadian Imperial Bank of Commerce (parent)); Fitch AA+ long-term deposit / AA- senior debt subject to bail-in (Canadian Imperial Bank of Commerce (parent))
Group Tier 1 capital ratio18.3% (Tier I and II 20.8%) (31 Oct 2025) Source
Group total assetsUSD 13,832 million (31 Oct 2025) Source
Offered at one or more booking centresOffered by the group, not confirmed at a centreNot located, which does not mean unavailable Checked on the bank's own pages for each centre.
Access and costs
Minimum relationshipCayman Islands:Not published Bahamas:Not published
US personsCayman Islands: Accepted with restrictions Bahamas: Accepted with restrictions
Fee scheduleCayman Islands: Published, Effective July 1, 2024 (Last updated: July 1, 2024) SourceCompared below Bahamas: Published, Effective January 2, 2024 (Last updated February 21, 2024) SourceCompared below
Third party paymentsCayman Islands: Not published Bahamas: Not published
Transfer out termsCayman Islands: Not published Bahamas: Not published
Protection of client assets
Deposit protectionCayman Islands: A regulator statement of absence was not located. Bahamas: Not published
Custody lawNot published
Custody termsNot published
Before opening an account
Custody agreement. Ask for the agreement covering the account you would open. Which entity holds the securities, what law governs the account, and where would the assets be held if a sub-custodian is used?
Account eligibility. Ask for the opening and ongoing minimum for the service you need, and confirm whether the bank measures it per account, per legal entity or across the family relationship.
International payments. The fee comparison shows USD 84 for a standard outgoing transfer. Ask whether intermediary charges and FX spreads are billed separately for the currencies you use. See published fees.
Your experience
Rate CIBC Caribbean
If you bank with CIBC Caribbean in any of its booking centres, or advise clients who do, your experience forms part of its PPLI.com rating. Please say which centre you deal with. Every response is read by the editor and treated in strict confidence.
Before we publish a significant negative finding that is not already public, we give the bank the facts and time to comment, on the same timetable for every bank. Decisions of regulators and courts are shown as they were published. Corrections we verify are published with the date of the change. Write to [email protected] quoting the reference of the booking centre concerned: Cayman Islands BK-KY-CIBC-CAYMAN-CD32D7; Bahamas BK-BS-CIBC-BAHAMAS-FCB512.
Reviewing this file with us
Families and their advisers read this file before they open an account. It can only be as complete as the documents we can find, and much of what sets a private bank apart, from its custody terms to the way a client team works, is rarely published.
If you represent CIBC Caribbean, one of our Bank Intelligence analysts can go through the file with you: correct anything that is out of date, add terms and documents that are not yet public, and set out what has improved since our last edition. The review is a paid engagement for the analyst's time and research.
The rating itself stays with our editor and follows what the documents show, so we cannot promise a particular result. When a review changes the file, this page notes that the bank took part, with the date and what was added.
Brought together by the PPLI.com research desk from the files of its booking centres and the public sources listed. The rating is our editorial opinion; read how the overall rating is built.
Important information. Editorial opinion of PPLI.com on the date shown, based on public information, client experience and editorial judgment. Not a statement of fact, a credit rating or investment, legal, tax or financial advice; verify with the bank and your own advisers before acting. No liability is accepted for reliance on this content. Bank names and logos are used for identification only. Ratings are updated every quarter. This is the Q4 2026 edition, and a rating can change between editions if something material happens. Full disclaimer
Rating signed by Noam Cohen, Editor, Bank IntelligenceReviewed 6 November 2026Methodology 2.4Overall rating weighted by UHNW client ratings
Read our Privacy Policy before submitting. Share only the information needed to describe your question; do not include medical records or account credentials.
