Butterfield shareholders greenlight CIBC Caribbean deal
Butterfield shareholders approved a US$1.8B deal to acquire CIBC Caribbean, issuing new shares and raising US$700M in debt. The bank aims to complete the transaction by mid-2027, subject to regulatory approvals. Butterfield's Q2 revenue rose 8% to US$158.33M, but net profit fell 12% to US$46.91M. Ratings agencies revised outlooks due to the deal's impact on capital and liquidity.

