(Jamaica) Limited - FirstCaribbean International Bank

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notes to the Financial Statements Year Ended 31 October 2009 (Expressed in Jamaican dollars unless otherwise indicated) 9. Loans and Advances to Customers (Continued) The movement in the provision for credit losses during the year is as follows: The Bank Personal Business & Mortgages Loans Government 2009 $’000 $’000 $’000 $’000 As at 31 October 2009 Balance, beginning of year – 232,402 131,009 363,411 Individual impairment – 164,042 215,852 379,894 Collective impairment – 13,249 14,011 27,260 Recoveries – 31,666 – 31,666 Write offs – (83,612) (1,584) (85,196) Balance, end of year – 357,747 359,288 717,035 Personal Business & Mortgages Loans Government 2008 $’000 $’000 $’000 $’000 As at 31 October 2008 Balance, beginning of year – 181,695 101,950 283,645 Individual impairment – 68,582 18,365 86,947 Collective impairment – 17,751 10,694 28,445 Recoveries – 25,339 – 25,339 Write offs – (60,965) – (60,965) Balance, end of year – 232,402 131,009 363,411 46
notes to the Financial Statements Year Ended 31 October 2009 (Expressed in Jamaican dollars unless otherwise indicated) 9. Loans and Advances to Customers (Continued) The provision for credit losses determined under Bank of Jamaica regulatory requirements is as follows: The Group The Bank 2009 2008 2009 2008 $’000 $’000 $’000 $’000 Specific provision 1,128,584 477,318 934,140 391,141 General provision 299,095 312,373 267,155 276,296 1,427,679 789,691 1,201,295 667,437 Excess of regulatory provision over IFRS provision reflected in non-distributable loan loss reserve (Note 21) 602,889 360,230 484,260 304,026 Loans and advances to customers include finance lease receivables: The Group and The Bank 2009 2008 $’000 $’000 No later than 1 year 38,275 1,593 Later than 1 year and no later than 5 years 99,334 98,810 Later than 5 years 5,009 75,326 Gross investment in finance leases 142,618 175,729 Unearned future finance income on finance leases (57,855) (81,595) Net investment in finance leases 84,763 94,134 47
Page 2 and 3: Corporate Profile .................
Page 4 and 5: Financial Highlights 2009 Earnings
Page 6 and 7: Managing Director Clovis Metcalfe M
Page 8 and 9: 6 Senior Management and Advisors
Page 10 and 11: Our Communities FirstCaribbean Inve
Page 12 and 13: Management’s Discussion and Analy
Page 14 and 15: Total Assets ($’B) Deposits (‘$
Page 16 and 17: 14 Management’s Discussion and An
Page 18 and 19: CharteredÊ Accountants 8 Oliver Ro
Page 20 and 21: Consolidated Balance Sheet As at 31
Page 22 and 23: Consolidated Statement of Income Ye
Page 24 and 25: Balance Sheet As at 31 October 2009
Page 26 and 27: Statement of Changes in Equity Year
Page 28 and 29: Statement of Cash Flow Year Ended 3
Page 30 and 31: notes to the Financial Statements Y
Page 96 and 97: 94 Ownership Structure
Page 98 and 99:
Notice of Meeting nOTICE IS HEREBY
Page 100 and 101:
98 Notes
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(Jamaica) Limited - FirstCaribbean International Bank

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