Bahamas - FirstCaribbean International Bank

Management’s Discussion and Analysis ofOperating Results and Financial ConditionFirstCaribbean International Bank (Bahamas) LimitedUnaudited Pro-forma Income Statement (B$000s)20022001Net Interest IncomeNon-interest IncomeTotal Income90,46239,059129,521101,24934,041135,290Non-interest ExpenseLoan loss ProvisionTotal Expenses70,5665,30475,87071,7759,63581,410Net Income53,65153,880Total AssetsTotal LoansTotal Cash & InvestmentsTotal Deposits3,010,4801,519,0081,429,0352,688,7512,902,1061,465,9431,361,3062,668,896Average number of shares outstanding (000’s)Net Income per shareReturn on equity108,254$ 0.50 $25.2%107,5700.5028.6%Note:The proforma results for 2001 represent actual 12 months’ results of CIBC Bahamas Limited for theyear ended October 31, 2001 and actual 12 months’ results for Barclays Bahamas (including Turks &Caicos Islands) for the year ended December 31, 2001.The proforma results for 2002 represent actual 12 months of CIBC Bahamas Limited for the yearended October 31, 2002 and the actual 10 months’ results for Barclays Bahamas (including Turks &Caicos Islands) to October 31, 2002 with estimated two months. These balances do not include anyadjustments, such as goodwill arising from the combination of the two entities.31