Clem Labega Square Philipsburg, St. Maarten, Netherlands Antilles ...

Clem Labega Square Philipsburg, St. Maarten, Netherlands Antilles
Tel: (599) 542-2313 • Fax: (599) 542-4761 • www.wib-bank.net

Message from
Management
THE ECONOMY OF OUR ISLAND
The island economy has recorded another booming year
with lots of construction and new tourism business activity
launched or planned for 2007.
This high level of economic activity has certainly created a
tougher business environment along with strong competition
among the local businesses as new ventures are being
established in the new commercial centers.
Numerous private real estate operations mentioned in 2005
are being completed and new ones started in 2006 in the
areas of Simpsonbay, Cupecoy, Dawn Beach, Oysterpond,
Belair, and Colebay.
The new Princess Juliana Int. Airport was opened in
November 2006, the new Captain Hodge small pier, the second
phase of the Philipsburg waterfront promenade, the
renovation of the Back street, the round about on the
Sucker Garden road, the creation of new parking zones
along the salt ponds, the new Telem Building, the new
Government Administration Building, the buy back of
shares of the harbor company with the approved financing
from WIB which in turn will see these funds returned to St
Maarten to be invested in Social economic projects; all
these construction projects contribute to the economic
boom that the island is currently experiencing.
The Westin Resort is now open bringing their new stream of
visitors to our unique two countries island and we’re seeing
time share making room for newly built deluxe Condos
being offered for sale at increasingly high prices.
Our economy remains highly dependent on tourism with a
stable number of visitors arriving by air while we note a
slight decrease in the arrivals of cruise passengers and cruise
ships.
2006 2005
VISITORS ARRIVING BY AIR 467,804 467,861
CRUISE PASSENGERS ARRIVALS 1,421,645 1,488,537
CRUISE CALLS 609 641
This rapid expansion of business activity coupled to an
increase of generated income has stimulated the sale of cars
during the last two years creating some serious stress points
on the existing roads no
longer fit to handle the
number of cars moving
from one end to the
other on an island with
such high density and
concentration of buildings
along the main
roads.
At the same time the main business areas such as
Philipsburg and Simpsonbay require additional parking
facilities in order to support continuing successful operations
of new and even of the existing businesses.
BUSINESS ACTIVITY IN 2006
A Quick scan of our Combined Business activity ( WIB and
WIB Int.) amounts X Naf 1000.
* Loans net of reserves for possible loan losses
OUR BANKING FACILITIES
THE WINDWARD ISLANDS BANK LTD. • ANNUAL REPORT 2006 • PAGE 1
2006 2005 Change %
TOTAL ASSETS 793,383 642,279 23.52%
TOTAL CUSTOMERS
DEPOSITS 662,218 543,639 21.81%
TOTAL LOANS * 392,944 304,521 29.04%
CAPITAL FUNDS 53,195 45,987 15.67%
2006 2005
BRANCHES 7 6
STAFF 210 203
ATM’s 21 14
Loans outstanding less specific allowance for loan losses at
year end 2006 stood at Naf. 392,944,000 being 29.04%
higher than previous year while Interest Earned on Loans
was Naf. 32,547,000 being an improvement of 12.32% over
the previous year.
Our Net Interest Income showed an increase of 19.09% taking
into consideration a decrease of interest rates due to
competition on the local credit market and stable high rates
of interest served on the International Money markets com-
bined with a 21.81% growth in Customer Deposits.
Our Customer Deposits now stand at Naf.662,218,000
against Naf. 543,639,000 of 2005 with a 12.44% increase
in Demand Deposits and a 34.57% growth of our Savings
and Time Deposits.
By improving our market share in the Business sector we
have managed to increase our business volumes and transactions
increasing our Commissions and Exchange Income
by 11.73% scoring an increase of our Total Income of
16.78% while our Total Expense grew by 14.42%.
THE MARKET
The Bank met its objectives and exceeded its targets by
deepening our business relationship with existing and new
customers while remaining involved in projects from which
new opportunities were derived to promote our products
and services.
There has been a significant growth in commercial banking
activities, while we took on a more conservative but steady
focus on our retail banking services such as consumer loans,
mortgage loans and issuing of credit cards.
Credit demand strengthened more than in 2005 and our
sales activity was geared towards making use of the new
business developments and opportunities thereby increasing
our position in the market while keeping our loan losses
at a low level.
The year 2006 has been another year with fierce competition
in a rapidly growing and continued dedication to our
policy of good corporate and social responsibility with a
strong involvement in the needs of our changing community,
has surely convinced the readers of the Daily Herald to
elect The Windward Islands Bank for the 3rd consecutive
year as “Best Bank of the year”.
We will be organizing more sales activities with our private
customers to promote our electronic banking services
WIB@Home, WIB Direct and WIB Direct Business which
have shown good increases and are being well accepted by
our Business customers in particular for executing local as
well as international transfers. Salary account payments
supporting the use of our numerous ATM’s throughout the
island were the principal cause for the high volumes recorded
in 2006.
WIB @ HOME
In 2006 we have successfully implemented the LUC system
(Loan Underwriting Center) which is a predictive credit
scoring model increasing the productivity and efficiency
while adding proper assessment of the credit risk, the
approval, the processing and management of all commercial
loans up to Naf 250,000.
Very soon, we hope to introduce similar credit scoring systems
for the Retail Banking departments.
The active tourist business and WIB’s BankCard Services
providing the best merchant service, has recorded an
increase of 11.73% in credit card sales volumes processed
by our POS system; although this good Dutch side result
was somewhat affected by a continuing decrease of the credit
card sales volumes on the French side due to closure of
many hotels and the bad perception of the high Euro value
placing Dutch side businesses in an advantageous position.
WIB EVENTS:
In early 2006, WIB conducted a Secret Shopper Survey
with the purpose of gauging the level of service provided.
One of the main elements that came out of this survey is
the need for more alternative banking services and outlets
to relieve the congestion that occurs in the lobbies of the
branches.
Throughout 2006, WIB improved its buildings and operations
to keep up with developments throughout the
Windward Islands such as:
• Opening of a WIB representative office on Saba to provide
service in a more professional manner. The Bank
opened an office as well as an ATM in The Bottom.
With the increase of transactions and types of operations
this office can be turned into an operational branch in
the future.
• Opening of the new small airport branch with specific
everyday service, including during the holidays to serve
our commercial and private customers working in and
around the new airport. Introduction of new style depos-
THE WINDWARD ISLANDS BANK LTD. • ANNUAL REPORT 2006 • PAGE 2
2006 2005
Number of users 2,048 1,185
Number of transactions 4,310 911
WIBDIRECT GROUP
Number of users 171 179
Number of transactions 15,994 5,254
WIBDIRECT BUSINESS
Number of users 367 Not in service
Number of transactions 1,994 Not in service

itory services separating cash operations from the checks
deposits, the latter now being handled as speedy deposits
with direct access by the back office staff for further processing.
• WIB Car show was again organized with great success to
allow clients and the automobile dealers a venue for on
the spot financing for car purchasing. Our commercial
services were also well promoted at the WIB booth of the
first St. Maarten Home Expo held at Maho Reef.
• The marine industry is an important contributor to the
islands economy. WIB as a Partner in Progress became a
sponsor of the St. Maarten Heineken Regatta, The St.
Maarten Classic Regatta, The St. Maarten yearly Mega
Yacht Boat Show as well as promoting sailing events of
traditional locally built sailing boats.
• More awareness for WIB’s electronic banking services
was created with the launching of the new WIB@home
Internet service for Small Businesses.
• All our ATM’s are being renovated with a new standardized
design and our service was enhanced with the placement
of new ATM terminals and introduction of new
services:
- Launching of the island’s first drive-thru ATM at the
Shell Station in Simpsonbay.
- Placing additional ATM terminals at Le Grand Marche
Bushroad and at the Main Office on the Pondfill.
- New ATM at the renovated Capt. Hodge pier- landing
for the cruise passengers and at the popular St Rose
Arcade
- New ATM’s located in the Check-in area and in the
Departure Hall of the new Princess Juliana
International Airport.
- The first ATM in the DawnBeach/ OysterPond area,
placed in the Reception lobby of the Oysterbay Beach
Hotel.
- The successful launching of our Prepaid Visa Money
Cards as well as the prepaid Kompa Leon credit card in
Naf. available at all our branches.
- Launching of GEBE electronic payments systems and
installation of POS terminals for payments with
Bankomatico or via the internet.
WIB AND THE COMMUNITY
The Windward Islands Bank continues to play a very
important social role by granting over 355 donations and
sponsorship to a wide cross section of the community
including Social Foundations, Sports events and activities,
Youth events, Educational projects, Church activities,
Cultural events, etc.
A great number of the Bank’s employees are actively
involved in the community or occupy a prominent function
in Non-Profit organizations including Rotary, Rotaract,
Lions, Toastmasters, Reach Out and Touch, Nature
Foundation, Journey for Education, Foundation Upkeep
Sports Facilities, Women’s Awareness Movement, Business
& Professional Women Association, Church and School
activities etc.
STAFF ACTIVITIES
With a total staff of 210, WIB employees are playing an
important role, not only in the Bank, but also throughout
the community.
A Social Committee has been very active in organizing several
family events, picnics, beach outings, games and competitions,
all to foster better relations with each other.
• The organizing of the Employee Appreciation Day allowing
our staff to show appreciation to their colleagues and
socialize in a different manner than the daily routine was
a great success ending with a bus-ride to a Fun night at
the Movies.
• The Bank has initiated a Marketing Team with the purpose
of organizing promotional activities aimed at bringing
the Bank and its employees closer to the community
and the businesses.
• In close cooperation with the Human Resource
Department of MCB our staff has received several courses
on providing service, dealing with discipline, attitudes
and on the financial products and services offered by our
Bank.
• One of the major social/community projects executed in
2006 was the painting of a home of an elderly paraplegic
resident of St.Peters.
We thank our customers and staff for without their loyalty,
services and business, we could not achieve such good
results and contribute so much to the well being of our community.
Jan J. Beaujon
Managing Director
THE WINDWARD ISLANDS BANK LTD. • ANNUAL REPORT 2006 • PAGE 3
Supervisory Board
of Directors & Management Team
MANAGEMENT TEAM (L-R)
J. Bruce Mayers
Asst. Managing Director
Kelvin Bloyden
Asst. Managing Director
Jan J. Beaujon
Managing Director
Carl Snijder
Asst. Managing Director
BOARD OF SUPERVISORY DIRECTORS
In Photo
Back Row (L-R)
Jan Beaujon
Shaffie Wihby
Ronald Gomes-Casseres
Victor P. Henriquez
Anthony Da Costa-Gomez
Front Row (L-R)
Lionel Capriles II
Ms. Brenda Wathey
Lionel Capriles
Locations
MAIN OFFICE
Clem Labega Square
Philipsburg
Tel: 542-2313
Fax: 542-4761
ST. EUSTATIUS BRANCH
Mazinga Square
St. Eustatius
Tel: 0318-2846 / 0318-2847
Fax: 0318-2850
SABA REPRESENTATIVE
Mrs. S. Richardson
The Bottom, Saba
Tel: 0416-5554
SIMPSON BAY OFFICE
Airport Road
Simpsonbay
Tel: 545-3065
Fax: 543-3002
COLE BAY BRANCH
Orange Grove Shopping Center
Cole Bay
Tel: 544-5490
Fax: 544-5491
WIB LOAN CENTER
Le Grand Marché Shopping Mall
Cul-De-Sac
Tel: 542-9536
Fax:542-9258
BUSH ROAD BRANCH
Le Grand Marché Shopping Mall
Cul-De-Sac
Tel: 542-9548
Fax: 542-9547
BANK CARD SERVICES
UTS Building
Philipsburg
Tel: 542-3940
Fax: 542-3257
AIRPORT BRANCH
Princess Juliana International Airport
Simpson Bay
Tel: 546-7761
Fax: 546-7762
THE WINDWARD ISLANDS BANK LTD. • ANNUAL REPORT 2006 • PAGE 4

Condensed Combined Balance Sheet
as of December 31, 2006 and 2005
THE WINDWARD ISLANDS BANK INTERNATIONAL NV AND THE
WINDWARD ISLANDS BANK LTD.
(amounts in Naf 1,000)
ASSETS
2006 2005 % variance
Cash and due from banks 380,654 317,448 19.9%
Loans 392,944 304,521 29.0%
Bank premises, Equipment and Other Assets 19,785 20,310 -2.6%
TOTAL ASSETS 793,383 642,279 23.5%
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Accounts 352,381 313,409 12.4%
Time deposits and savings 309,837 230,230 34.6%
TOTAL DEPOSITS 662,218 543,639 21.8%
Due to banks 61,326 38,041 61.2%
Accrued expenses, taxes and other liabilities 16,644 14,612 13.9%
TOTAL LIABILITIES 740,188 596,292 24.1%
Capital Stock 8,870 8,870 0.0%
Reserves and undivided profits 44,325 37,117 19.4%
TOTAL SHAREHOLDERS’ EQUITY 53,195 45,987 15.7%
TOTAL LIABILITY AND SHAREHOLDERS EQUITY 793,383 642,279 23.5%
THE WINDWARD ISLANDS BANK LTD. • ANNUAL REPORT 2006 • PAGE 5
Explanatory notes to the condensed combined balance sheet
as of December 31, 2006
ACCOUNTING POLICIES
1. GENERAL
The principal accounting policies adopted in the preparation of the condensed combined financial
statements of Windward Islands Bank Ltd. and Windward Islands Bank International N.V. are set
out below. These explanatory notes are an extract of the detailed notes included in the financial
statements of both Banks and are consistent in all material respects with the financial statements
from which they have been derived.
2. BASIS OF PREPARATION
The financial statements, from which the condensed combined balance sheet has been derived, are
prepared in accordance with International Financial Reporting Standards (“IFRS”).
The figures presented in the condensed combined balance sheet are stated in thousands of Antillean
Guilders and are rounded to the nearest thousand.
The policies are consistent, in all material respects, with those used in the previous year.
3. LOANS AND ADVANCES TO CUSTOMERS
Loans and advances are carried at amortized cost, less an allowance for loan impairment. An
allowance for loan impairment is established if there is an indication that the Banks will not be able
to collect all amounts due according to the original contractual loan terms.
THE WINDWARD ISLANDS BANK LTD. • ANNUAL REPORT 2006 • PAGE 6

Independent
Auditors’ Report
To the Stockholders and Board of Directors of
Windward Islands Bank Ltd and Windward Islands Bank International
N.V. Sint Maarten
We have audited the financial statements of Windward Islands Bank Ltd. and the
financial statements of Windward Islands Bank International N.V. for the year ended
December 31, 2006, from which the condensed combined balance sheet and explanatory
notes were derived, in accordance with International Standards on Auditing.
In our auditors’ reports dated January 26, 2007, we expressed an unqualified opinion
on the financial statements of Windward Islands Bank Ltd. and Windward Islands
Bank International N.V. from which the condensed combined balance sheet and
explanatory notes were derived.
In our opinion, the accompanying condensed combined balance sheet and explanatory
notes as of December 31, 2006 are consistent, in all material respects, with the financial
statements of Windward Islands Bank Ltd. and Windward Islands Bank
International N.V. from which they have been derived.
For a better understanding of the condensed combined balance sheet and explanatory
notes and of the scope of our audit, the condensed combined balance sheet and
explanatory notes should be read in conjunction with the financial statements of
Windward Islands Bank Ltd. and Windward Islands Bank International N.V. from
which they have been derived and our auditors’ report thereon.
Sint Maarten, Netherlands Antilles
January 26, 2007
KPMG Accountants B.V.
V.T.M. Bergisch RA
THE WINDWARD ISLANDS BANK LTD. • ANNUAL REPORT 2006 • PAGE 7
Outlook
for 2007
Considering the diversity of our businesses and population
of different cultural backgrounds, we will be looking
for the right customers while fine-tuning our sales promotion
to target the specific market segments.
The significant growth in commercial credit is closely
related to the real estate boom placing more stress on the
environment.
This will call for more attention towards environmentally
responsible and friendly projects to maintain our good
corporate image.
The Bank has opened a branch at the new PJIA Airport
terminal and will continue improving our business premises
as well as the work environment of our staff particularly
at the Main office, the Consumer Loans
Department on the Bushroad and our BankCard
Services.
We’ll need to enhance the diversity and the specialization
of our work force to follow the changing customers and
their specific business needs in these times.
Our rapid growth calls for further training in Sales and
Financial administrative services to meet the regulatory
requirements and standards imposed by these new market
conditions.
Philipsburg will see the completion of the Backstreet
Renovation Program, turning this part of Philipsburg into
a major garment shopping center for the North Eastern
Caribbean.
The extension of the Cruise Harbor with additional recreational
facilities, the real estate and marina projects of Dock
Maarten and Bobby’s Marina will bring the Cruise Port
facilities closer to Philipsburg making it a major attraction
for the Cruise passengers.
In view of the number of new Condos being built and the
extension of some of the Hotel projects, we expect to see an
increase of stay-over tourists creating more business opportunities
and volumes in the Simpsonbay, Cupecoy and
Colebay area.
The Westin Resort, The Oysterbay club and the Acquarius
Condos and other real estate projects will be creating new
business activity on the eastern side of the island.
Continuous introduction of new services and products has
been a winning trademark of our Bank and we will continue
to improve our cash area and counter-service with new
systems.
Entering a new phase of the Constitutional changes defining
the island’s new status and relations within the
Kingdom will place some stress on the country’s
Government organization and its leaders, calling for closer
consultations with all social and economic stakeholders to
keep the future of our economy and the quality of life, on
the right track.
THE WINDWARD ISLANDS BANK LTD. • ANNUAL REPORT 2006 • PAGE 8

Traditional
Sail Boats
St Maarten has one tradition that we have recently
seen a resurgence of sorts and that is with traditional
sailboats. While today, we see the traditional boats
being used for friendly sailing competitions, the history
of these vessels goes back much farther.
SAILBOATS FOR DAILY SUBSISTENCE
Traditional sailboats on St Maarten were most prominent in
the early part of the 20th century with the St. Martiners
making use of the vessels for daily subsistence. In fact, several
men became adept at building the small boats and
made use of them to provide seafood for the island’s inhabitants.
With little means besides breeding cattle and other
livestock, the surrounding waters provided an abundance of
seafood for the community. In the early morning hours,
men would go down to the waterfront, haul down the boats
into the water, load the ballast, put in the mast, sails and
rudder and then set sail for the fishing grounds. Bad weather
or good weather, the fish pots had to be hauled and the
fish had to be sold.
It was a high-risk profession; just imagine standing in a
cranky, bouncing boat hauling up a heavy fish pot from a
depth of some 300 feet all in rough seas with the risk of
falling overboard or being sunk by a wave. It is understandable
that the men took great pride in being able to build
these small boats and create a viable commerce out of them.
Not only on the French side, but also in
the area of Simpsonbay inhabitants made
use of these small traditional boats as a
way of making a living. The boats were
also used as a means of transportation
from one village to another. The skill in
building the boats was passed on from
one generation to the next. As time progressed,
the fishermen turned what was a
simple means of making a living into a
commercial activity .
LAYOUT OF A TRADITIONAL
THE WINDWARD ISLANDS BANK LTD. • ANNUAL REPORT 2006 • PAGE 9
SAILBOAT
Ballast: Sea Rocks-Were found at Friars Bay Beach and Pointe
Blanche. They were placed in the center of the boat bottom.
Iron- Most ships/schooners carried weight to stabilize the vessel
a sea.
At times when they picked up cargo they often lighten up by
disembarking some of the weight. Most boats in St. Martin
dove their irons from a shipwreck that was near Red Pond.
These irons already had two holes at each end that a rope went
through with a knot to act as a carrying handle.
Sand Bags: Flour bags filled with beach sand were
layed on top of the sea rocks. In light wind conditions
they were often opened and sand was dumped out to
lessen the weight load.
Sails: These were cloth sails in the early days sewn
often by hand by the people of Simpson Bay. Today
sales are fabricated at St. Maarten Sails.
Boom: In the early days the boom was made from bamboo
trees. Today they are made out of aluminum by FKG
Marine Rigging.
Timber: White cedar trees were used.
SAILBOAT RACING
Wherever you find an activity for men, it is expected that some
sort of rivalry will develop. Stories are told of how the men used
to boast about the craftmanship of their sailboat and the speed
at which they could maneuver the boats. Out of this grew what
is today referred to as traditional sailboat races. By the middle
of the twentieth century with the island developing to a stage
where the boats were not necessarily needed for daily subsistence,
boat racing became a favorite
past time. The traditionally sleepy
villages of Marigot, Grand Case and
Simpsonbay came alive with weekly
friendly competitions between the
sailboats.
Eventually, the capital of Philipsburg
also got involved in the sailboat races
and during the Holidays of July 14th,
November 11th and December 15th
the bays of Marigot, Simpsonbay,
Grand Case and Great Bay. Many
captains became famous on the island
THE WINDWARD ISLANDS BANK LTD. • ANNUAL REPORT 2006 • PAGE 10

ecause of their skill in building and maneuvering the boats
during these friendly competitions.
It is not certain what happened, but in the late 80’s and
90’s traditional sailboat racing declined on St Maarten. In
fact, other types of sailboats became abundantly present
resulting in the introduction of the Heineken Regatta.
However, there were several persons who continued the tradition
of building sailboats and participated in racing in the
Anguilla and St Maarten sailboat competitions. One of
these persons is Mr. David Benjamin better known as
“Nat”.
“NAT” GREAT SAILBOAT BUILDER
AND RACER
David “Nat” Benjamin has been actively involved in traditional
boat racing for over 26 years. However, he has fond
memories of how as a child he started out in fun races with
makeshift boats.
Grassboats: As a child, Nat and his friends used to race little
boats made from guinea grass in the streams during the
rainy season.
Grapeleaf boats: As they grew older, they started to have
races with boats made from white pine. Metal from the cast
rum barrel (barrel stay) was used with white pine bent in a
particular direction. Coconut straws were used for the mast
and grape leaves were used as sails; hence the name
“Grapeleaf boats”.
Gum tree shaped boat: In this case, a turpentine tree was
cut out and dredged. These would be sailed without a rudder.
Depending on the wood, the Gum tree shaped boat was
between 2 to 3 feet in length.
Nat was champion in all three categories.
Remote control boat: : Larger boats of 3-4 feet. The
remotes were used to control the sails from the shore.
With his fervent interest and participation in the makeshift
boat races since his early childhood days, “Nat” turned his
passion into building boats as an adult. He honed his skills
learnt from from a paraplegic friend in St Kitts. Nat is credited
with building several champion boats throughout the
past 26 years, including:
Erica: a 23 feet sailboat that dominated Anguilla and St
Maarten races from 1971 to 1981.
Natalie: A 28 feet S-boat design, considered the best boat
ever built out of wood in 1981. This boat never lost a race,
THE WINDWARD ISLANDS BANK LTD. • ANNUAL REPORT 2006 • PAGE 11
but was lost in 1999 due to Hurricane Lenny.
Perfect Timing: In 1995, Nat built Perfect Timing one of
the oldest boats in racing today.
“Nat” hopes to see the art of building boats turned into a
reality. It only takes about one week to build a 23 feet
boat. He is willing and looks forward to being able to
teach the art of teaching youngsters from high school how
to build boats and then compete in races. Until this
becomes a reality, Nat continues to coach some of the
younger boys now carrying on this interesting sport.
TRADITIONAL BOAT RACING REVIVED
At the start of the Twenty First century a small group of
men decided to get more involved in the business of build-
ing and racing the sailboats. With the Heineken Regatta
being in existence for twenty years and other sailboat races
being held on St Maarten, the group had to find a way to
differentiate their small boats from the larger boats with
their massive masts, long booms, sails and even engines.
The term traditional boat racing was appropriately used to
highlight a part of St Maarten’s tradition that brings a nostalgic
feeling and atmosphere that brought the communities
together in the past.
Several young men also got involved in the races and
decided that in order for the sport to flourish they needed
the support of the local business community. There is a
tremendous skill involved in having the boats built and to
be able to have proper sails and masts made and maintained.
There is a lot of risk involved and for that reason
liability insurance is also needed. Consequently, “Nat”
founded an Association with the purpose of ensuring that
the sport can be officially recognized and supported.
Presently, there are some five to seven traditional sailboats
that are officially sponsored by companies on St Maarten
and these traditional boats participate in weekly competitions
in Grand Case proudly displaying the names of their
sponsors.
TRADITIONAL BOAT RACES
BACK IN GREAT BAY
In 2005, an excellent initiative was presented by
Ferdinand Beauperthuy, a WIB employee whose grandfather
was also named Ferdinand Beauperthuy, who decided
to approach WIB and Taloula Mango with the idea to
bring back the boat races to Great Bay. In the early twentieth
century, the elder Ferdinand Beauperthuy owned several
wellknown sailboats. Realizing the importance of this
traditional sport and themselves having been involved in
sailboat racing in their youth, both Jan Beaujon of WIB
and Norman Wathey of Taloula Mango agreed to co-sponsor
the event and with that traditional boat races were
brought back to Great Bay and Philipsburg. The enthusiasm
of this popular tradition is expected to receive more
support from the business community and we can now
start looking forward to more friendly competitions
between the guys and their traditional sailboats.
THE WINDWARD ISLANDS BANK LTD. • ANNUAL REPORT 2006 • PAGE 12

WIB in the
Community
WIB sees the importance of supporting community endeavors. On
Saturday December 15th, 2006 some 15 staff members and management
got together to show off their community spirit by painting
the home of a senior citizen. The project was a first initiative
of many projects that are to be carried out during the course of the
next year.
WIB understands the importance of a good education and has
always been a supporter of events that benefit both teachers and
students of the local schools when skills learned at trainings are
put to use in the classrooms.
In order to help keep our youngsters off the streets and into sports
WIB has come to the aid of the Islands sporting facilities. WIB
has provided financing to the Foundation Upkeep Sports Facilities
(FUSF) for the full completion and rehabilitation of all the sporting
facilities that fall under the foundation. Some of the facilities
that have been rehabilitated are the Melford Hazel Sports
Complex, the LB Scott Sports Auditorium, John Cooper/Jose Lake
Sr. Ballpark and playground, the Raoul Illidge Sports Complex
Sports Field, the Cay Hill Basketball field, the Union Farm
Basketball field and the Simpsonbay sports field.
A total of more than $15,000 was given to four foundations as a
continued support to St. Maarten’s Carnival. These groups participate
each year making them important contributors to St.
Maarten’s Carnival. They start preparing as soon as carnival is
over for the next year. WIB has been showing it’s support through
financial contribution for more than 20 years and will continue to
do so in the future.
The Caribbean Home Expo 2006, was a unique opportunity for
businesses to display their products and services. The mobilization
and organization of the WIB Marketing Team and Staff of
the respective departments made WIB’s participation stand out
amongst the vendors present.
THE WINDWARD ISLANDS BANK LTD. • ANNUAL REPORT 2006 • PAGE 13
WIB house painting
Donation to St. Joseph School
Carnival Sponsorships
WIB Home Expo
Signing for WIB Branch at PJIA
WIB Employee Appreciation Day
Summer camp donation
Unveiling Melford Hazel
With the opening of the new PJIA terminal WIB again
showed its dedication to giving quality and convenient service
to the public by providing them with a branch at the airport.
WIB employees once again showed their togetherness by celebrating
Employee Appreciation Day with the theme Together
Everyone Achieves More (TEAM). Some of the activities
included breakfast, an evening at the movies and a tour of the
new airport terminal building.
WIB proudly assisted four students of the Milton
Peters College with their airfare to the Netherlands
to take part in the 2006 Mathematics A-Lympiad
championship. Nathalie Tackling, Christella
Garad, Stephanie Mooij and Mathias Voges represented
their school both academically and socially.
They competed against some of the best
Mathematics students from the Netherlands,
Denmark, Germany and Aruba and proudly
returned as the champions.
The opening of the new Melford Hazel Sports &
Recreational Center was proof of the hard work of
the Foundation Upkeep Sports Facilities and their
promise to use the funds of the special loan granted
by WIB to complete the Sporting Facilities on
the Islands for the benefit of our youngsters.
In June 2006 WIB gave donations to all the major
summer camp foundations on the Island in support
of having a safe place for the youngsters to
spend their free time during the summer vacation.
THE WINDWARD ISLANDS BANK LTD. • ANNUAL REPORT 2006 • PAGE 14
WIB Employee Appreciation Day