FirstCaribbean International Bank Limited

Notes To The Consolidated Financial Statements
October 31, 2009
Total
assets
Total
liabilities
Commitments,
guarantees
and contingent
liabilities
External
Revenues
Capital
expenditure (*)
Non-Current
Assets (**)
Barbados $ 2,776,476 $ 1,886,217 $ 224,062 $ 239,043 $ 4,408 $ 35,855
Bahamas 3,247,194 2,595,134 252,722 208,855 2,308 213,757
Cayman 1,802,882 1,398,173 135,760 125,252 456 166,915
Eastern Caribbean 1,014,736 895,633 118,020 97,241 2,774 14,646
Curaçao 603,264 513,401 73,526 77,426 2,477 7,432
Jamaica 883,730 796,353 23,359 22,263 383 5,488
BVI 128,287 107,487 19,873 15,651 - 2,069
Belize 531,883 458,483 25,717 25,537 149 1,842
Other 1,412,126 1,326,018 138,565 88,890 1,802 28,597
12,400,578 9,976,899 1,011,604 900,158 14,757 476,601
Eliminations (1,898,001) (993,091) - (150,609) - (14,063)
$ 10,502,577 $ 8,983,808 $ 1,011,604 $ 749,549 $ 14,757 $ 462,538
* Capital expenditure is shown by geographical area in which the property and equipment or intangible assets are located.
** Non-current assets relate only to property and equipment and intangible assets.
Credit rating system and credit quality per class of financial assets
Credit Quality
A mapping between the Group’s internal ratings and the ratings used by external agencies is shown in the table below.
As part of the Group’s risk-rating methodology, the risk assessed includes a review of external ratings of the obligor.
The obligor rating assessment takes into consideration the Group’s financial assessment of the obligor, the industry, and
the economic environment of the country in which the obligor operates. In certain circumstances, where a guarantee
from a third party exists, both the obligor and the guarantor will be assessed.
Quality per FCIB Standard & Poor’s equivalent Moody’s Investor Services
High grade AAA to BBB- Aaa to Baa3
Standard BB+ to B- Ba to B3
Substandard CCC+ to CC Caa1 to Ca
Impaired D C
A credit scoring methodology is used to assess Personal customers and a grading model is used for Corporate clients and
an ageing analysis of the portfolio assists in the development of a consistent internal-risk rating system. This risk rating
system is used for portfolio management, risk limit setting, product pricing, and in the determination of economic capital.
The effectiveness of the risk rating system and the parameters associated with the risk ratings are monitored within
Credit Risk Management and are subject to an annual review.
The credit quality of financial assets is managed using internal credit ratings.
With the exception of investment securities amounting to $ nil (2009 - $52,181) that were classified as substandard, all
other securities are standard or high grade.
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