FirstCaribbean International Bank (Bahamas) Limited

Managing Director’s Report
with our local communities in 2004. In addition to the very
substantial number of charitable institutions which we
supported in 2004 to assist those who suffered enormously
from the devastation caused by Hurricanes Frances and
Jeanne, we contributed $150,000 to the Bahamas Disaster
Relief and Recovery Fund. We are pleased to assist in making a
difference.
We embarked on a major educational initiative in partnership
with the College of the Bahamas. This has been ratified by the
signing of a Memorandum of Understanding (MOU) to
provide a framework within which the College and the Bank
will collaborate in support of regional development and for the
mutual benefit of both institutions. We believe that education
is the key to successful development, and the signing of the
MOU is intended to facilitate our staff and the College in
keeping pace with and adapting to changes in technology and
the economic environment. Under the terms of the MOU,
FirstCaribbean provides funding to the College to support
some of the College’s initiatives.
2004 was the second year of our Unsung Heroes programme
wherein we recognised ordinary people in our communities
who perform over and above the call of duty without
consideration for reward or acclaim. We salute in the Bahamas
three worthy “unsung heroes”. Dr. Ebbie Shearer Jackson is an
optometrist who for two weeks every year provides free eye
care service in rural areas of the region. She has visited Haiti
where she can treat up to 200 patients in a day. Ricardo
Deveaux was instrumental in establishing the Primary School
Student of the Year Award. Dexter Bodie, of the Road Runners
Track Club, uses his personal resources to train the athletes and
fund their travel expenses. Each of our heroes was awarded
$6,000 toward their cause.
In the Bahamas we presented our Birthday Gift of $20,000 to
the Cancer Society of the Bahamas to support their very
valuable work. The funds were used by the Society to outfit
and equip two rooms of their new hospice facility which they
provide for Family Islanders seeking care in Nassau. In TCI we
made our gift presentation at the opening of their new branch
in Providenciales to the Turks and Caicos Medical Clinic to
assist in the purchase of a ventilator for the Pediatric Ward.
Our People
FirstCaribbean employees faced major challenges during the
year, including completing the integration process, branch
consolidation and dealing with the impact of hurricanes
Jeanne and Frances. We are tremendously proud of their
dedication and resilience, coupled with the delivery of strong
business results.
We are very proud of the opportunities available to our
employees to advance throughout the Bank regionally. Our
recent appointments include Pauline Lightbourne as Assistant
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General Manager for Channels and Services for the Bahamas,
Turks and Caicos as well as the Cayman Islands. Mr. Andrew
McFall has been appointed to a similar role with responsibility
for the Leeward and Windward Islands. Additionally, within
our Compliance, Information Technology, Human Resources,
Operations and Corporate segments we have senior managers
based in the Bahamas with regional responsibilities as well as a
number of Bahamians holding positions outside The Bahamas.
As we move into 2005 our focus will be customer service
excellence, risk and control, development and growth. Project
Line in the Sand is a training programme that will be launched
in the second quarter with a focus on basic banking skills for
our new recruits, customer service training and people
management. We remain committed to ensuring that we
equip our employees so that they are able to deliver on our
goal to be “First for Customers”.
2005–Improving Customer Service, Operation
Efficiency and Shareholder Value
While the past year has been largely focused on implementing
and bedding down changes, the challenge for the year ahead
lies in continuing to improve our customer service and
operational efficiency whilst enhancing shareholder value. Staff
programmes to embed key activities and enhance
productivity, efficiency and relationship management are high
on the agenda for the coming year, as are continuing to
effectively managing risk, and adherence to prudent controls
and governance arrangements.
We are encouraged by what we see in the Bahamas and Turks
and Caicos economies and their future outlook.
Appreciation
We have accomplished much in 2004 with the commitment,
dedication and hard work of our management and staff. To
our staff of almost 800, you are to be commended for a year
that was productive and which created the launch pad for
sustainability, and even greater growth and success.
To our Board of Directors, we wish to thank you for your
oversight, counsel, guidance and support which you have
provided over the past year. And to our customers, we are
indebted to you for your patience and understanding in going
through these many changes with us during the past year as
we laid the foundation for improvement in our product
offering, enhancing our customer services.
Sharon Brown
Managing Director – Bahamas and Turks and Caicos Islands