FirstCaribbean International Bank (Bahamas) Limited
FirstCaribbean International Bank (Bahamas) Limited FirstCaribbean International Bank (Bahamas) Limited
Notes to Consolidated Financial StatementsFor the year ended October 31, 2009(Expressed in thousands of Bahamian dollars)18. Other Operating Income2009 2008Fee and commission income $ 18,727 $ 18,210Net trading income - foreign exchange transactions 10,195 25,967Net translation losses (579) (12,889)Net trading securities losses (9,433) (9,833)Net investment securities gains (losses) 801 (8,199)Other operating income 5,631 2,761$ 25,342 $ 16,017Net trading securities losses have arisen from either disposals and/or changes in the fair value, on both trading securitiesand derivatives held for trading.Net investment securities gains (losses) have arisen from disposals of investment securities held as available-for-sale securities.Analysis of fee and commission income:2009 2008Fee and commission incomeUnderwriting fees and commissions $ 192 $ 395Deposit services fees and commissions 6,479 5,742Credit services fees and commissions 3,268 2,531Card services fees and commissions 4,905 5,485Funds transfer fees and commissions 3,452 3,651Other fees and commissions 431 406$ 18,727 $ 18,21048
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
- Page 5 and 6: Executive ChairmanMichael K. Mansoo
- Page 7: Board of DirectorsMichael MansoorCh
- Page 10 and 11: Our CommunitiesUNSUNG HEROESIn 2009
- Page 12 and 13: Management’s Discussion and Analy
- Page 14: Management’s Discussion and Analy
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- Page 20 and 21: Consolidated Statement of IncomeFor
- Page 22 and 23: Consolidated Statement of Cash Flow
- Page 24 and 25: Notes to Consolidated Financial Sta
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- Page 72 and 73: Notice of MeetingNotice is hereby g
- Page 75 and 76: FirstCaribbean International Bank (
- Page 77: Proxy FormThe undersigned(please pr
Notes to Consolidated Financial StatementsFor the year ended October 31, 2009(Expressed in thousands of Bahamian dollars)18. Other Operating Income2009 2008Fee and commission income $ 18,727 $ 18,210Net trading income - foreign exchange transactions 10,195 25,967Net translation losses (579) (12,889)Net trading securities losses (9,433) (9,833)Net investment securities gains (losses) 801 (8,199)Other operating income 5,631 2,761$ 25,342 $ 16,017Net trading securities losses have arisen from either disposals and/or changes in the fair value, on both trading securitiesand derivatives held for trading.Net investment securities gains (losses) have arisen from disposals of investment securities held as available-for-sale securities.Analysis of fee and commission income:2009 2008Fee and commission incomeUnderwriting fees and commissions $ 192 $ 395Deposit services fees and commissions 6,479 5,742Credit services fees and commissions 3,268 2,531Card services fees and commissions 4,905 5,485Funds transfer fees and commissions 3,452 3,651Other fees and commissions 431 406$ 18,727 $ 18,21048
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