Bahamas - FirstCaribbean International Bank

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Pradip Chhadva Managing Director Treasury, Sales & Trading Treasury, Sales & Trading continued revenues” concept to give incentive all Relationship managers in cross-sell Bank’s products -As far as product diversification is concerned, we have actively marketed exposure management products to qualified customers. We further initiated relationships with CIBC WM in the Structured Products Arena – organising the first joint customer meetings in the region to introduce CIBC WM’s capability in structured investment solutions. Trading The Trading function is an absolutely key driver of revenues both for TS&T and for the Bank. We can summarise the key highlights for Trading as follows: 1) Independent management of tradable hard currency Caribbean assets (CBP): this portfolio has delivered significant out-performance over the last 12 months in comparison with both external benchmarks and internal targets. 2) Implementation and execution of structural hedge strategy: we have actively built a true rolling structural hedge programme (picking up yield by buying AA- banks rather than Treasuries). The post-structural interest rate position has been neutralised. 3) Implementation of outsource strategy (as determined by Board Committees): the subprime crisis and associated wider credit crunch resulted in higher volatility and below plan returns for the outsource strategies. We have in fact reduced exposures as we shift focus from outsource to in-house strategies (focus on CBP and local market opportunities). In conclusion, I am proud of the performance of the function to date and further to be associated with the changes that we have delivered over a relatively short time frame. As you can see from the above, the TS&T function has undergone real and radical change. I am now certain that we have the strong foundations, the correct structures and most importantly the right people in place to ensure future success. Our ambition is to be viewed as the cutting-edge and leading TS&T service provider in the region – we are on the way. 38
“Through our Unsung Heroes Programme we brought to the fore the wonderful work being done by three very special humanitarians in the Bahamas and one in the Turks & Caicos.” – Sharon E. Brown, Bahamas Managing Director 39
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 22 and 23: Chief Executive Officer’s Report
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 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
Page 91 and 92:
Notes to the Consolidated Financial
Page 93 and 94:
FirstCaribbean International Bank (
Page 95:
FirstCaribbean International Bank (
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Bahamas - FirstCaribbean International Bank

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