Tag: Cayman National Bank
Bank shareholders asked to give back ‘people’s cash’
(CNS): The opposition is appealing for the shareholders of Cayman National, who are about to enjoy a cash windfall if its sale to Republic Bank Trinidad and Tobago (Barbados) goes ahead as expected, to give up some of their financial gain to the public purse, arguing that government lost out in a poor deal to […]
Cayman National board tells shareholders to take deal
(CNS): The Cayman National board of directors is expected to release a circular Friday about the take-over bid of the local bank by the Republic Bank Trinidad and Tobago (Barbados) Limited, in which it is recommending that shareholders accept the deal. Shareholders in the only Cayman-owned bank were offered a premium of more than $3 on […]
Republic Bank pushes bid for Cayman National
(CNS): Republic Bank TT (Barbados) Ltd (RBTTBL), a wholly-owned subsidiary of Republic Financial Holdings Ltd (RFHL), has signed “an implementation agreement” with Cayman National Corporation Ltd in its continued efforts to take over the local financial institution. Shareholders have been offered $6.25 per share from Republic, which is seeking to acquire between 51% and 75% […]
Petition started to keep CNB Caymanian
(CNS): The announcement this week that a regional bank has made an unsolicited potential offer to buy up a ruling share of Cayman National Bank has spawned a local backlash, with people taking to social media to voice their concerns. A petition has now been started to urge the bank not to sell. More than […]
Regional bank triggers offer for control of CNB
(CNS): The board of Cayman National Corporation, the parent company of Cayman National Bank, has confirmed that it is currently considering a possible takeover offer by a regional player based in Barbados. The Republic Bank Trinidad and Tobago (Barbados) Limited (RBTTBL), which is owned by Republic Financial Holdings Limited, has announced it is considering the potential acquisition […]
Cayman firms fined $6M for helping tax dodgers
(CNS Business): Two subsidiaries of the Cayman National Corporation have pleaded guilty to helping clients evade taxes in a US Department of Justice crackdown on tax cheats. Cayman National Securities and Cayman National Trust entered guilty pleas Wednesday in a New York federal court. The bank will pay US$6 million in forfeiture and fines, prosecutors […]
Cayman National to pay $5M in US tax evasion probe
(CNS Business): Cayman National Corporation is expecting to part with some $5 million in fines to the US authorities in relation to what the bank called “past wrongdoing” by two of its companies, Cayman National Securities and Cayman National Trust Company. In a report on the bank’s website covering its fourth quarter report for 2015, CNC revealed that […]
