Trinidads’ First Citizens group acquires Butterfield Bank (Barbados)

Butterfield was established in 2003 upon the acquisition by Butterfield assets of the Mutual Bank of the Caribbean Inc., at the time a subsidiary of the Barbados Mutual Fund Life Assurance Society.

First Citizens Group Chief Executive Officer Larry Howai said the transaction confirms that First Citizens is well on course in terms of its strategic direction, particularly as it relates to acquisitions and regional expansion. “This is certainly a ‘win win’ situation for both organizations and what is most rewarding is the fact that the customer wins,” he said.

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