CIBC says it will post an $85 million gain from selling interests in Republic Bank Ltd. of Trinidad and Tobago. The bank said Monday that subsidiary CIBC Holdings (Cayman) Ltd., is selling its 1.9 million shares in Republic Bank to CLICO Investment Bank Ltd. of Trinidad and Tobago for an after-tax gain of $25 million.

Concurrent with the sale by CIBC Holdings, FirstCaribbean International Bank, an equity- accounted investment of CIBC, also concluded an agreement to sell its holding of 14,025,730 shares in Republic Bank to CLICO.

As a result of the sale by CIBC Holdings and through CIBC’s approximately 44% ownership interest in FirstCaribbean, CIBC says it anticipates recording an after-tax gain of approximately $25 million in relation to the share sale by CIBC Holdings, and after-tax equity income of approximately $60 million in relation to the sale of those shares held by FirstCaribbean.

The gain and equity income will be reported in CIBC’s first quarter 2005 statement of income.