De-Risking in Jeopardy 3

Another name now looks like being added to the growing list of banks that have moved to protect their brands and their own institutions by de-risking.

This time Canadian Imperial Bank of Commerce appears to be in the process of shedding CIBC First Caribbean International Bank, which it had formed with Barclays Bank - in 2002. Barclays then moved to protect its brand and interests by shedding the last of its shares and totally withdrawing from the region in 2006.

According to various South American media sources the intention is to dispose of 70% of its shares for US$2.2 billion to the Gilinski Group, a Columbian entity with widespread interests across the zone. This may be the forerunner to CIBC following Barclay Bank's lead by disposing of its risks and liabilities entirely.