(CMR) Cayman National Bank (CNB) will be offering eligible clients the opportunity to have their loan payments waived for a period of some three months it was announced earlier today. They shared that “we are very conscious that many of our customers will require economic and financial support.”
The bank issued a statement from President and CEO, Stuart Dack, late this afternoon after making personal contact with numerous clients to inform them of the available options. If eligible persons need additional information they are instructed to contact their loan officers who stand ready to assist. He shared:
“We have a reputation for providing sympathetic help and support … CNB stands ready, willing and able to assist our clients in good standing by waiting up to 3 months' loan payments.”
CNB was also the only bank on the island that gave all employees a $1,000 cash payment with no repayment obligation on Friday. One staff member shared with us over the weekend that they were so impressed with this CaymanKind gesture and that it reaffirms what a committed bank CNB really is. In addition, all employees have been given an immediate reduction in their mortgage interest rates to 3%.
They reminded people that at this time face-to-face meetings are discouraged but the staff is available via email or phone.
The bank employs over 200 persons with the vast majority being Caymanians and is the largest financial services company based in the Cayman Islands. They also have the most extensive ATM Network on the island with five retail locations between Grand Cayman and Cayman Brac. They remain the only bank that services the sister islands.