Bahamas - FirstCaribbean International Bank

FIRSTCARIBBEAN INTERNATIONAL BANK (BAHAMAS) LIMITEDNotes to Consolidated Financial StatementsOctober 31, 2002(expressed in thousands of Bahamian dollars)5 Loans and advances…continuedMovement in provisions for impairment are as follows:Specific creditrisk provision$Inherentriskprovision$Balance, January 1, 2001 (8,971) (5,474)Doubtful debts expense (7,767) –Recoveries of bad and doubtful debts 882 –Bad debts written off 1,965 146Balance, December 31, 2001 (13,891) (5,328)Doubtful debts expense (5,502) (700)Provisions from entity acquired (7,145) (5,811)Recoveries of bad and doubtful debts 2,320 –Bad debts written-off 1,412 1,757Balance, October 31, 2002 (22,806) (10,082)The aggregate amount of non-performing loans on which interest was not being accrued amounted to$90,820 as at October 31, 2002 (2001 – $26,031).6 Investment securitiesOctober 31,2002$December 31,2001$Originated debtIssued or guaranteed by Government 103,101 –Securities held to maturityDebt securities 48,672 50,623151,773 50,623The market values of these securities approximate cost.62