The agreement was signed by Dr Ajay Kumar, the Deputy Chief of Mission, Embassy of India (Kathmandu) on behalf of the Government of India, and by Dr Purnima Parida, Group Leader, Planning & Business Development Group, CBRI
Examiners stated that CBRI's record of small business lending in LMI census tracts in Rhode Island compared favorably with that of the aggregate lenders during the review period and commended the bank for consistently being named the leading lender of Small Business Administration ("SBA") loans in Rhode Island.
For example, examiners found that CBRI made 36 small business loans totaling $6.7 million that had community development as their primary purpose, including $2 million in loans to organizations that provide affordable housing for LMI individuals and communities in Rhode Island.
For example, CBMA made a $4.1 million loan to develop an assisted living facility that reserved 50 percent of its units for LMI elders, and CBRI made a loan of $2.1 million to a nonprofit organization that provided counseling and intervention services to LMI individuals.
In the 1999 Citizens Evaluations, examiners rated the investment activities of CBMA and CBRI as "high satisfactory" and those of CBCT and CBNH as "outstanding." During the review period, the banks made qualified CRA investments totaling more than $58 million and grants totaling more than $2.3 million.
(17.) These institutions include Citizens Bank of Rhode Island, Providence, Rhode Island ("CBRI"); Citizens Bank of Connecticut, New London, Connecticut ("CBCT"); and Citizens Bank of New Hampshire, Manchester, New Hampshire ("CBNH").
(19.) CMC is a subsidiary of CBRI. Citizens stated that CMC serves as the central underwriter, processor, and servicer for standard residential first mortgage loan products offered by the Citizens banks, and that the individual Citizens banks originate all other housing-related loans.