FirstCaribbean International Bank (Bahamas) Limited

Notes to Consolidated Financial StatementsFor the year ended October 31, 2009(Expressed in thousands of Bahamian dollars)19. Operating Expenses2009 2008Staff costs $ 39,116 $ 37,010Occupancy and maintenance 10,715 10,563Depreciation (Note 10) 3,470 3,584Other operating expenses 17,778 13,183$ 71,079 $ 64,3402009 2008Remuneration $ 30,542 $ 31,029Pension costs/(income):- defined benefit sections of the plan (Note 11) 2,340 964- defined contribution section of the plan 402 394Other post-retirement benefits (Note 11) 312 304Share-based payments 271 328Other staff related costs 5,249 3,991Analysis of other operating expenses:$ 39,116 $ 37,0102009 2008Professional fees $ 1,629 $ 1,319Advertising and marketing 106 67Business development 424 778Communications 2,051 1,425Loss (gain) on sale of property & equipment 116 (236)Other 13,452 9,830$ 17,778 $ 13,18320. Earnings per shareBasic earnings per share2007 2008Net income attributable to shareholders $ 78,637 $ 83,904Weighted average number of ordinary shares in issue 120,216 120,216Basic earnings per share (expressed in cents per share) 65.4 69.8The Bank has no dilutive securities.49