(Jamaica) Limited - FirstCaribbean International Bank

notes to the Financial Statements
Year Ended 31 October 2009
(Expressed in Jamaican dollars unless otherwise indicated)
25. Operating Expenses
The Group
The Bank
2009 2008 2009 2008
$’000 $’000 $’000 $’000
Staff costs 1,209,516 1,108,531 1,182,690 1,065,509
Depreciation 109,264 120,789 108,310 119,982
Occupancy costs 317,891 270,693 312,678 265,121
Other operating expenses 964,062 812,482 934,885 782,301
2,600,733 2,312,495 2,538,563 2,232,913
Analysis of staff costs:
The Group
The Bank
2009 2008 2009 2008
$’000 $’000 $’000 $’000
Wages and salaries 1,027,144 940,412 1,002,584 907,296
Pension costs –
Defined benefit plan (Note 12) (49,660) 6,730 (48,540) (20)
Defined contribution plan 39,437 46,599 39,437 46,433
Other post retirement benefits (Note 12) (17,810) (17,920) (17,450) (17,520)
Share-based payments 16,499 17,167 16,499 17,167
Other staff-related costs 193,906 115,543 190,160 112,153
1,209,516 1,108,531 1,182,690 1,065,509
26. Income Before Taxation
Income before taxation is stated after charging:
The Group
The Bank
2009 2008 2009 2008
$’000 $’000 $’000 $’000
Depreciation 109,264 120,789 108,310 119,982
Directors’ emoluments-
Fees 2,768 3,127 2,440 2,869
Management remuneration 54,583 44,480 31,625 29,979
Management fees 199,650 78,272 178,909 63,632
Auditors’ remuneration-
Current year 12,182 9,602 10,210 7,857
Prior year 3,064 – 3,064 –
60