Bahamas - FirstCaribbean International Bank

Notes to the Consolidated Financial Statements
October 31, 2007
(expressed in thousands of Bahamian dollars)
20. Other operating income
2007 2006
$ $
(Restated)
Fee and commission income 16,485 14,311
Net trading income – foreign exchange transaction
gains less losses 13,023 13,181
– translation gains less losses 843 587
– interest rate instruments (5,623) (13,654)
Gains less losses from investment securities 4,455 (180)
Other income 2,960 3,580
Analysis of fee and commission income:
Fee and commission income
32,143 17,825
2007 2006
$ $
(Restated)
Underwriting fees and commissions 85 19
Deposit services fees and commissions 8,705 8,202
Credit services fees and commissions 1,507 1,507
Card services fees and commissions 5,848 4,231
Other fees and commissions 340 352
21. Operating expenses
16,485 14,311
2007 2006
$ $
Staff costs 27,768 36,104
Occupancy and maintenance 7,908 6,581
Loss on sale of property and equipment — 31
Depreciation (Note 10) 4,351 3,536
Operating lease rentals 3,021 3,792
Other operating expenses 14,056 15,829
21. Operating expenses (continued)
Analysis of staff costs:
2007 2006
$ $
Wages and salaries 27,815 27,593
Pension costs/(income):
– defined benefit sections of the plan 153 (65)
– defined contribution section of the plan 274 211
Other post retirement benefits (7,702) 1,013
Other staff related costs 7,228 7,352
Analysis of other operating expenses:
27,768 36,104
2007 2006
$ $
Professional fees 410 634
Advertising and marketing 147 125
Business development and travel 1,199 944
Communications 1,776 1,865
Other 10,524 12,261
22. Earnings per share
Basic earnings per share
14,056 15,829
2007 2006
$ $
Net income attributable to shareholders 109,860 100,700
Weighted average number of
ordinary shares in issue 120,216 120,216
Basic earnings per share
(expressed in cents per share) 91.4 83.8
See Auditors’ Report Page 56.
57,104 65,873
The Bank has no dilutive securities.
81