Saturday, July 20, 2024

Caye International Bank celebrates 20 years of service in Belize


The only international bank headquartered in San Pedro, Ambergris Caye, Caye International Bank (CIB) celebrated its 20th anniversary on Friday, September 29th, with a cocktail reception commemorating the bank’s two decades of unparalleled service, commitment, and growth in Belize.
The celebration welcomed clients, colleagues, and friends for an evening of great company, music, good food, refreshments, and inspirational speeches. The special occasion included CIB Chairman Joel Nagel, CIB President Luigi Wewege, Chief Operating Officer Gladys J. Urbina, bank directors Michael K. Cobb and Peter A. Zipper, among other bank members.
The private event included brief formalities, with Urbina welcoming everyone to the gathering. She invited Chairman Nagel to the podium, who gave an overview of the infant days of the bank. He elaborated that before CIB’s birth in 2003, he and his team faced several obstacles to obtaining the bank license. The process started in 2001 and was affected by the terrorist attacks on the World Trade Center in New York City, USA. As a result, changes in the banking law delayed the licensing process. Nagel took the audience through the two decades of challenges and successes experienced at CIB. The Chairman credited his team and emphasized the importance of customer service. “We always need to remember that because of the customers we serve, we are in business, and by doing everything we can to help the customer to achieve their goals, that’s really what propels us to achieve our goals and objectives,” said Nagel. “I am proud to have led Caye International Bank for 20 years. It felt like raising a child, and the bank has reached adulthood. We are excited about the future and remain committed to serving our clients and the community.”
Next to address the guests was Cobb. He elaborated on the importance of leadership. “Leadership is about setting a goal and where we are going,” said Cobb. “But you need the people in the organization to get the job done. The bank delivers a much-needed product to the marketplace, enabling middle-class customers to obtain financing for their international property ownership.” Cobb commended the CIB team, stating that the bank’s next 20 years will be exciting.
CIB’s President Wewege highlighted the solid international partnerships that they have fostered, resulting in their continued growth and success. Wewege congratulated Nagel and everyone who navigated the financial institutions through difficult and good times, and 20 years later, the ship is still afloat and robust. He thanked all partners and team members for their input in the bank, the island community, and the country.
CIB has been instrumental in fostering economic growth in Belize. In addition to offering traditional banking services such as checking, savings, and CD accounts, the bank provides commercial mortgages and residential construction loans to its foreign account holders within the country. One of the current projects the bank is supporting is the construction of a Marriott Hotel in San Pedro, which is expected to boost the tourism economy on the island further and create more job opportunities for Belizeans.

The San Pedro Sun joins the community and the country in wishing Caye International Bank a happy 20th anniversary!

For more information on Caye International Bank and its services, visit its website

Photo Caption.
The Prime Minister congratulates Chairman Nagel on the occasion of the 20th Anniversary of the founding of Caye Bank, Ltd. The two met to discuss foreign investment and a wide range of global and local economic topics affecting Belize.

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