Bahamas - FirstCaribbean International Bank

Directors’ ReportDIRECTORSIn accordance with the Memorandum and Articlesof Association, the following Directors cease to holdoffice at the end of the Annual General Meeting,and being eligible offer themselves for re-election:-i.ii.iii.iv.v.vi.vii.viii.ix.Sharon BrownTeresa ButlerTerence R. HiltsJoseph W. P. KrukowskiMichael MansoorWillie MossG. Diane StewartMark TevershamWalter A. WellsDIRECTORS’ INTERESTAs at October 31st, 2002, particulars of Directors’shareholdings in the issued capital of the Companyare as follows:COMMON SHARES OF NO PAR VALUESHARE CAPITALSubstantial Interest as at October 31st, 2002*Common Shares of B$0.10 par value1. FirstCaribbean International Bank – 114,463,600 (95.8%)*Substantial interest means a holding of 5% or more of thecompany’s issued share capital.AUDITORSThe Auditors, PricewaterhouseCoopers have indicatedtheir willingness to be re-appointed and a resolution tothat effect will be proposed at the Annual GeneralMeeting of the Company.BY ORDER OF THE BOARDCheryl E. BazardCorporate SecretaryMarch 14th, 2003Beneficial Non-BeneficialInterest Interest1. Terence Hilts 17,500 nil2. Walter Wells 24,200 nil3. Reginald Lobosky nil 5,000FINANCIAL RESULTS AND DIVIDENDSThe Directors report that the Company’s netincome for the year ended October 31, 2002 beforegoodwill amortisation and restructuring chargesamounted to B$20.9 million. All statutoryrequirements for the year ended October 31, 2002have been fulfilled.An interim dividend of eighteen cents ($0.18) percommon share was paid on June 21st, 2002. A finaldividend of fifteen cents ($0.15) per common sharefor the fiscal year 2002 was approved by theDirectors on September 26th, 2002 and paid toshareholders on October 21st, 2002. Total dividendspaid for fiscal 2002 was thirty-three cents ($0.33).Cheryl E. BazardCorporate Secretary14