CIBC First Caribbean has had its best quarterly performance since 2010. For the first quarter of their financial year, ending January 31, 2015, they recorded a net income of $26.6 million. This is a good improvement compared with the net income of $15.4 million for the same period in 2014.
The Cayman Islands has also been named “Best Hedge Fund Services Jurisdiction” for 2015.
Cayman received the award at the Hedgeweek Global Awards in London’s Mayfair on the 27th of February. Hedgeweek Awards brought together 2014s best performing managers and service providers in the global hedge funds industry.
The winners were decided by the votes of Hedgeweek’s subscribers.
Other good news came to Caymanians last month in the form of lower unemployment. Among Caymanians unemployment fell 1.5 percent to 7.9 percent. For non-Caymanians, the number fell from 3.1 percent to 1.5 percent, according to the new Labor Force Survey from the Economics and Statistics Office.
Tourism Minister Moses Kirkonnell has also predicted that 2015 will be the best year yet for tourism in the Cayman Islands. The number of cruise passenger arrivals for January already shows a 7% growth from the previous year. Over 70,000 people came to visit in the first 2 months of the year, which is a growth of 7.6% on 2014.
“Our arrivals in both stay-over and cruise were strong. For stay-over, for example, our numbers showed 11% growth year over year while the average in the region was 5%” Explained Kirkonnell. “These results are even more significant when you consider that January and February 2014 were the highest for any January or February on record.”by