Bahamas - FirstCaribbean International Bank

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Chief Executive Officer’s Report continued Net Income Attribute to Equity Holders of The Parent – US$M Return on Tangible Equity – Per Cent Cost to Income Ratio – Per Cent Loan Loss Expenses to Loan Ratio – Per Cent 0.55 0.38 0.28 0.16 0.18 2003 2004 2005 2006 2007 20
Chief Executive Officer’s Report continued Earnings per Share – US Cent Community Partnership 4.6 5.8 9.0* 10.4** 13.3*** Increased profits and our “1% of net income before taxes and minority interests” commitment brought a US$2.0 million investment in the activities of our community foundation “Comtrust” in 2007. The Trust’s investments are covered in the separate Corporate Responsibility Annual Report but it is clear the Trust’s flagship programmes of “Unsung Heroes” and “Adopt-a- Cause” go from strength to strength. The Executive Leadership Team and I enjoyed playing our own small part as we “Adopted a Cause” at Teen Challenge Barbados. Conclusion 2007 was another exceedingly strong year for FirstCaribbean. A record seven “Best Bank” awards won from the likes of The Banker and Global Finance is independent testament to that achievement. People 2003 2004 2005 2006 2007 * Normalised for the gain on sale of Republic Bank shares and restated to reflect the retrospective impact of IAS 18. ** The 2006 numbers have been restated. *** Normalised to exclude gain on VISA transaction. Again, our investments in our people focused on learning and development with our Training investment reaching a record $3 million. The Wharton mini-MBA for senior management has completed its first “Cohort” with rave reviews. For new starters, we launched our “FirstStart” training programme. We have invested significantly in 2007 in upgrading our buildings for the benefit of staff and customers, the highlight being the launch of our new Barbados Business Centre, a US$10 million investment in a state-of-the-art “greenfield” Technology and Operations Centre housing some 450 staff. As we bring 2007 to a close we also bring our first five years as FirstCaribbean to a close. The chart on the previous page captures our track record. A tripling in profits and Return on Equity increasing from 10% to 20% are the highlights. It’s been a great five years and I again thank our staff and customers for making it so. Going forward, the environment looks less rosy with the US economy slowing significantly and US interest rates falling. Nevertheless, I believe that with the investments we’ve made, our conservative approach to risk, and above all the quality and commitment of our 3,500 people, we are well positioned to weather any impending storm. Charles Pink Chief Executive Officer 21
Page 1: FIVE YEARS SERVING THE CARIBBEAN
Page 4 and 5: Contents Notice of Meeting 3 Sectio
Page 6: Five Years of Being First Left to r
Page 9 and 10: Ownership Structure FirstCaribbean
Page 11 and 12: Main Branches and Centres ABACO ISL
Page 13 and 14: Willie Moss Attorney-at-Law Joseph
Page 15 and 16: Directors, Senior Management and Ad
Page 18 and 19: Chairman’s Report continued The a
Page 20 and 21: 18 Group Chief Executive Officer’
Page 24: Bahamas Managing Director’s Repor
Page 28 and 29: 26 Strategic Business Units
Page 30 and 31: Retail Banking Commentary on overal
Page 32 and 33: Capital Markets Commentary on overa
Page 34 and 35: Corporate Banking Commentary on ove
Page 36 and 37: Wealth Management Commentary on ove
Page 38 and 39: Treasury, Sales & Trading Commentar
Page 40 and 41: Pradip Chhadva Managing Director Tr
Page 42 and 43: Human Resources/Marketing Commentar
Page 44 and 45: Juan M. Corral Managing Director Op
Page 46 and 47: Martin Griffiths Chief Risk Officer
Page 48 and 49: Management’s Discussion and Analy
Page 57 and 58: Financial Statements 2007 55
Page 59 and 60: Consolidated Balance Sheet As of Oc
Page 61 and 62: Consolidated Statement of Changes i
Page 63 and 64: Notes to the Consolidated Financial
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Notes to the Consolidated Financial
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FirstCaribbean International Bank (
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FirstCaribbean International Bank (
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Bahamas - FirstCaribbean International Bank

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