Cayman National Corporation welcomes Republic Bank (Cayman) to the family

Port of Spain, May 1, 2023: Cayman National Corporation Ltd. ((CSX: CNC) KY) (“CNC”) has announced that, following the receipt of all regulatory approvals, effective May 1, 2023 the banking operations of Republic Bank (Cayman) Limited (“RBKY”) will be merged into Cayman National Bank Ltd. (“CNB”). In addition, the securities operations of RBKY will be merged into the operations of Cayman National Securities Ltd. (“CNS”) (together the “Mergers”). CNB and CNS are the remaining entities following the Mergers.

Speaking on the Mergers, Nigel Baptiste, Group President and Chief Executive Officer of Republic Financial Holdings Limited (RFHL), said “The merger of Republic Bank (Cayman) Limited into Cayman National Corporation will allow the RFHL Group to strengthen our operations in the Cayman Islands. This move will enable the RFHL Group to ensure a more robust customer experience and remove some of the duplication that existed across both entities allowing for greater efficiencies.”

Janet Hislop, Chief Executive Officer of CNC said, “We are happy to announce the completion of the Mergers. Our teams have been working diligently to smoothly transition RBKY’s clients to CNB and CNS. We are delighted to welcome our new customers and offer them our wide array of products and services and a much enhanced online experience.”

CNB and CNS are directly owned by CNC, 74.9% of whose shares are ultimately owned by RFHL. All Caymanian staff at RBKY will be employed within the Cayman National Group following the completion of the Mergers.

About Cayman National
Established in 1974, Cayman National Corporation Ltd. is the largest financial services company based in the Cayman Islands, providing banking, trust, fund administration, and wealth management services to clients locally and around the world, from the Cayman Islands and the Isle of Man. Cayman National is publicly traded on the Cayman Islands Stock Exchange. Cayman National is part of the Republic Group. Established in the Caribbean in 1837 as the Colonial Bank and becoming Barclays Bank of Trinidad and Tobago, the Republic Group is today one of the region’s largest and most successful financial institutions. Cayman National comprises: Cayman National Bank Ltd., Cayman National Fund Services Ltd., Cayman National Securities Ltd., Cayman National Bank (Isle of Man) Limited and Cayman National Trust Company (Isle of Man) Limited.

About RFHL
RFHL is a publicly quoted financial holding company listed on the Trinidad and Tobago Stock Exchange, licensed under the Financial Institutions Act, Chap 79:09 of the Laws of Trinidad and Tobago and has over US$16 billion of total assets. RFHL, along with its twenty four (24) subsidiaries, provides a complete range of commercial banking and related services. These include investment banking, mortgage financing, securities trading and related activities, trustee services, credit card operations, foreign exchange and trade finance services as well as deposit taking and lending operations. Through its subsidiaries and associated companies, RFHL has operations domiciled in Anguilla, Barbados, British Virgin Islands, Cayman Islands, Dominica, Ghana, Grenada, Guyana, St. Lucia, St Kitts and Nevis, St. Maarten, St Vincent and the Grenadines and Suriname in addition to Trinidad and Tobago.