<strong>International</strong> <strong>Bank</strong>ing 36
More Solutions for <strong>International</strong> Clients As I joined the <strong>Bank</strong> in October, full credit for fine achievements in 2004 should go to the <strong>International</strong> <strong>Bank</strong>ing team under the leadership of Mark Teversham. The infrastructure, efficiency and high performance that are already embedded within the business, as well as the commitment and enthusiasm of staff, will assure continued momentum and growth. We thank Mark and wish him continued success in his next chapter. <strong>International</strong> <strong>Bank</strong>ing operates through five client centres located in the <strong>Bahamas</strong>, Barbados, the Cayman Islands, the British Virgin Islands, and the Turks and Caicos Islands. No other bank offers its international clientele such a wide choice within the Caribbean. With the advent of Internet and Telephone <strong>Bank</strong>ing we are opening up additional delivery channels for our clients, who typically are non-residents. Clients can of course contact their Relationship Manager on a direct-line basis, with the “face-to-face” option still remaining, but Internet access will provide timely choice and convenience and will further strengthen our competitive position. Market-leading Products We serve both international corporate and individual clients. Both client segments value service quality and our strong brand. Our corporate offering is aimed at, and tailored to, the banking needs of the captive insurance, offshore mutual fund and trading company sectors as well as the offshore service providers located close to our own <strong>International</strong> <strong>Bank</strong>ing Centres. Our offering to individual clients centres on the Premier client segment and increasingly on the high net worth segment. <strong>FirstCaribbean</strong> is a main provider of both deposit and mutual fund products to corporations and individuals in our region. We feel we are well placed to compete for market share in these segments. JAN-ARNE FARSTAD Executive Director – <strong>International</strong> <strong>Bank</strong>ing Caribbean. In addition to our five client centres, our reach continues to expand, with international mortgages now offered, or shortly to be available, in Antigua, Belize, St Kitts & Nevis, St. Lucia, the Netherlands Antilles, Tobago, and St. Vincent and the Grenadines, with other countries coming on stream as demand dictates. Seamless Service We work with our colleagues across the Retail, Corporate and Capital Markets segments to develop a seamless approach in our ability to serve the client and to have the client at the centre of all we do. We consultatively review clients’ needs and find appropriate solutions. Our heritage banks provide a source of referral business and best practice and we seek out other avenues to expand our client base, and expand services to existing clients. Poised for Growth Looking to the year ahead, we expect continued real growth in all our segments. Our international mortgage products are proving very successful. Last year we successfully doubled our international mortgage book and we have set ourselves the same target this year. Client demand for quality investment products is on the increase and we expect to expand our open architecture offering of investment products further. The wealth management segment of our business is increasing and we expect this trend to accelerate. We now have a strong international platform from which to expand. Our <strong>International</strong> team is made up of highly trained, skilled and client-centric staff. We value their great contribution to our success in 2004 and look forward to even better team performance in 2005. During the last 12 months we maintained an encouraging rate of increase in the number of new international clients, continued real growth in assets under management and the launch of a new Securities Dealing Service. Moreover, our international mortgage products were improved, with appropriate innovative campaigns branded under the themes “Perfect” and “Life doesn’t get much better than this”, in respect of property ownership in the Caribbean. We expect to remain the market leader in mortgage finance for international clients seeking to own property in the 37