FirstCaribbean International Bank (Bahamas) Limited

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Consolidated Balance Sheet as of October 31, 2004 (expressed in thousands of Bahamian dollars) Assets Notes 2004 2003 $ $ (Restated) Cash and due from banks 3 864,055 1,111,395 Trading securities 4 273,295 169,746 Loans and advances 5 1,669,007 1,497,105 Other assets 6 52,695 53,549 Investment securities 7 178,850 164,959 Property, plant and equipment 8 35,334 28,799 Goodwill 9 187,747 187,747 Total assets 3,260,983 3,213,300 Liabilities Deposits 10 2,707,621 2,670,897 Other liabilities 11 28,270 41,663 Total liabilities 2,735,891 2,712,560 Shareholders’ equity Share capital and reserves 13 414,364 413,664 Retained earnings 110,728 87,076 525,092 500,740 Total shareholders’ equity and liabilities 3,260,983 3,213,300 Approved by the Board of Directors Chairman Director December 17, 2004 The accompanying notes are an integral part of these consolidated financial statements. 47
Consolidated Statement of Income For the year ended October 31, 2004 (expressed in thousands of Bahamian dollars, except per share data) Notes 2004 2003 $ $ Interest income 14 153,961 137,888 Interest expense 55,108 50,294 Net interest income 98,853 87,594 Non-interest income 15 36,907 39,630 135,760 127,224 Other operating expenses 16 65,954 59,511 Provision for credit losses 7,909 9,132 Restructuring & integration charges 17 279 177 Goodwill amortisation 9 – 9,855 74,142 78,675 Net income for the year 61,618 48,549 Earnings per share (cents) 22 0.51 0.41 The accompanying notes are an integral part of these consolidated financial statements 48
Page 2 and 3: Vision To create the Caribbean’s
Page 4 and 5: Notice of Meeting Annual Meeting No
Page 6 and 7: Upon us now is a time of focus. In
Page 8: Ownership Structure 7
Page 11 and 12: Board of Directors Sharon Brown Man
Page 13 and 14: 12 The Executive Leadership Team Ba
Page 15 and 16: 14 Michael Mansoor Executive Chairm
Page 17 and 18: 16 Charles Pink Chief Executive Off
Page 19 and 20: Chief Executive Officer’s Report
Page 21 and 22: 20 Sharon Brown Managing Director
Page 23 and 24: Managing Director’s Report with o
Page 25 and 26: Management’s Discussion and Analy
Page 27 and 28: Management’s Discussion and Analy
Page 29 and 30: Building the Brand
Page 31 and 32: Revitalising in order to grow The f
Page 33 and 34: Building the ‘Deal Pipeline’ Ou
Page 35 and 36: Growing Superior Performance Levera
Page 37 and 38: More Solutions for International Cl
Page 39 and 40: Towards a New Partnership with Cust
Page 41 and 42: The Brand that Lives in our People
Page 43 and 44: One Caribbean Platform, One Team...
Page 45: PricewaterhouseCoopers Providence H
Page 49 and 50: Consolidated Statement of Cash Flow
Page 51 and 52: Notes to Consolidated Financial Sta
Page 77 and 78: FirstCaribbean International Bank (
Page 79 and 80: FirstCaribbean International Bank (

FirstCaribbean International Bank (Bahamas) Limited

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