Bahamas - FirstCaribbean International Bank

FIRSTCARIBBEAN INTERNATIONAL BANK (BAHAMAS) LIMITEDConsolidated Statement of Changes in Shareholders’Equity/Head Office Account(expressed in thousands of Bahamian dollars)NotesShare/AssignedCapital$Reserves$RetainedEarnings$Due toHeadOffice$Total$Balance at December 31, 2000 1,158 – 8,731 31,090 40,979Net income for the year – – 3,354 13,868 17,222Transfer to head office – – – (16,075) (16,075)Dividends waived – – 2,198 – 2,198Balance at December 31, 2001 1,158 14,283 28,883 44,324Issuance of ordinary voting shares 11 472,828 – – – 472,828Transfer of opening share /assigned capital 11 (1,158) 158 (1,000)Transfer to retained earnings 23,715 (23,715) –Reverse acquisition reserve 13(63,566) (63,566)Net income for the period – – 11,519 – 11,519Transfers from/(to) head office – – 8,784 (5,168) 3,616Balance at October 31, 2002 472,828 (63,566) 58,459 – 467,721The accompanying notes are an integral part of these consolidated financial statements.51