Bahamas - FirstCaribbean International Bank

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FIRSTCARIBBEAN INTERNATIONAL BANK (BAHAMAS) LIMITEDNotes to Consolidated Financial StatementsOctober 31, 2002(expressed in thousands of Bahamian dollars)23 Segmented informationThe Bank operates in one industry, the financial services industry. Transactions between businesssegments are on normal business terms and conditions. Total income comprises net interest income andnon-interest income. The geographic distribution of total income, total expenses and operating profitwas as follows:For the period endedOctober 31, 2002$For the year endedDecember 31, 2001$TotalIncomeTotalExpensesOperatingProfitTotalIncomeTotalExpensesOperatingProfitTurks & Caicos 11,140 (5,371) 5,769 14,549 (5,969) 8,580Bahamas 46,290 (27,230) 19,060 50,167 (34,640) 15,52757,430 (32,601) 24,829 64,716 (40,609) 24,107For theperiod endedOctober 31,2002$For theyear endedDecember 31,2001$Total operating profit 24,829 24,107Provision for loan losses (3,882) (6,885)Restructuring charges (8,812) –Goodwill amortisation (616) –Net Income 11,519 17,22273
FIRSTCARIBBEAN INTERNATIONAL BANK (BAHAMAS) LIMITEDNotes to Consolidated Financial StatementsOctober 31, 2002(expressed in thousands of Bahamian dollars)23 Segmented information…continuedIn the normal course of business various credit related arrangements are entered into to meet the needs ofcustomers and earn income. These financial instruments are subject to the Bank’s standard credit policiesand procedures. Segment assets and liabilities comprise operating assets and liabilities, being the majorityof the balance sheet but excluding such items as other assets and other liabilities. The geographicdistribution of operating assets, operating liabilities and capital expenditures at October 31 was as follows:For the period endedOctober 31, 2002$For the year endedDecember 31, 2001$OperatingAssetsOperatingLiabilitiesCapitalExpenditureOperatingAssetsOperatingLiabilitiesCapitalExpenditureTurks & Caicos 272,042 270,383 4,527 264,595 265,668 3,101Bahamas 2,676,827 2,418,368 22,090 1,270,167 1,241,219 6,3602,948,869 2,688,751 26,617 1,534,762 1,506,887 9,461Off-balance sheet financial instruments:October 312002$December 312001$Turks & Caicos 20,099 21,802Bahamas 351,680 113,174371,779 134,97674
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ContentsOur Heritage 6Notice of Mee
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FirstCaribbean International Bank
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Our HeritageBarclays BankThrough th
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Notice of MeetingAnnual MeetingNoti
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Directors, Senior Management & Advi
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Directors’ ReportDIRECTORSIn acco
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Chairman’s ReviewIn late 2002, co
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Chairman’s Reviewpolicies. We are
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Group Chief Executive Officer’s R
Page 23 and 24: Group Chief Executive Officer’s R
Page 25 and 26: Group Chief Executive Officer’s R
Page 27 and 28: Country Manager’s ReportYear in R
Page 29 and 30: Country Manager’s ReportBank in 2
Page 31 and 32: Management’s Discussion and Analy
Page 33 and 34: Management’s Discussion and Analy
Page 35 and 36: 34Retail Banking
Page 37 and 38: 36Corporate Banking
Page 39 and 40: 38International Banking
Page 41 and 42: 40Capital Markets
Page 43 and 44: 42Marketing and Communications
Page 45 and 46: 44Human Resources
Page 48 and 49: FirstCaribbeanInternational Bank(Ba
Page 50 and 51: FIRSTCARIBBEAN INTERNATIONAL BANK (
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Page 88: The undersigned....................
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Bahamas - FirstCaribbean International Bank

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