Bahamas - FirstCaribbean International Bank

Group Chief Executive Officer’s Report• 25 branches and 38 ATMS are in TheBahamas and the Turks and Caicos Islands.• Focus and develop in three key productareas: mortgages, credit cards andpersonal loans. In the first two of thesewe are market leaders.• Focus on customer service improvementvia our ‘Customer First’ programme. Weaim to be the market leader on customerservice over time. This programme willfocus on our Retail business but extend toall our lines of business.Corporate BankingFocused on our Corporate customers the keyelements of our strategy are to:• Offer excellence in relationshipmanagement with all customers to havea dedicated Relationship Manager anddedicated support points of contact.• Develop focused customer offeringsthrough differential focus on our twonew sub segments of Corporate andCommercial banking.• To increase the number of RelationshipManagers, and to free up the time of ourexisting Relationship Managers, viaprocess improvement and technologydeployment, to allow more time to bespent with our customers and onbusiness development.International BankingServing our Offshore Personal and Corporatecustomers the key elements of our strategy are to:• Extend the successful Barclays Offshorebanking model to the former CIBCOffshore client base, including adedicated Relationship Manager withspecialized international bankingexpertise, and dedicated support points ofcontact.• To extend our range of investmentsolutions to provide increased value toour clients.Capital MarketsServing our largest Corporate, institutional andGovernment clients the key elements of ourstrategy are to:• Extend the successful CIBC CapitalMarkets business in Jamaica and Barbadosacross the whole of the Caribbean, and toformer Barclays’ clients. The recentsuccessful underwriting of $52.5 millionfor Sagicor is an example of the sort oftransaction, which our expertise andcapital base will allow us to bring to bearfor the benefit of our clients in theCaribbean.• To develop value added services to ourclients in this segment via RelationshipManagers with very small portfolios andthe specialised knowledge necessary todeliver the complete range of bankingsolutions to this particularly sophisticatedclient segment.• In summary, we have a clear strategyfocused on providing value to our clients,and from it we will deliver long-termvalue to our shareholders.IntegrationAnnualised synergies continue to be expected toover $60 million pre-tax per annum by the endof the third year of operation of theFirstCaribbean Group.22