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Aug 04, 2023 149 likes •392 views

0 RESTRICTED | FirstCaribbean International Bank Presentation to the Annual General Meeting Rik Parkhill, Chief Executive Officer March 13, 2015 AGENDA Summary Financial Performance Strategic Priorities Community Conclusion 2

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RESTRICTED | FirstCaribbean International Bank

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Presentation to the Annual General Meeting

March 13, 2015 Rik Parkhill, Chief Executive Officer

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  • Summary
  • Financial Performance
  • Strategic Priorities
  • Community
  • Conclusion

AGENDA

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 Fiscal 2014 was a challenging year for the Bank as a number of legacy problems were confronted directly and remediated

  • Massive overhaul of processes completed
  • Incremental loan loss expense and reduction in the

carrying value of goodwill  We remain confident about the Bank’s future and our commitment to the Caribbean region is resolute

  • Ongoing investments position the institution for

growth as the economies improve

SUMMARY

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KEY REMEDIATION EFFORTS  Coverage ratio on NPLs increased to 46%  Carrying value of goodwill adjusted downward  Massive overhaul completed:  Credit processes  Credit analytics  Risk management  Internal controls  Other policies

Substantial remediation efforts position the Bank for growth and enhance its ability to generate higher sustainable shareholder returns

46 31 25 21 21 2014 2013 2012 2011 2010 Coverage Ratio (%)

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  • Summary
  • Financial Performance
  • Strategic Priorities
  • Community
  • Conclusion

AGENDA

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FINANCIAL SUMMARY

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Financial Trend 2010 2011 2012 2013 2014 Net Income Adjusted* [US$ millions] 157 74 77 36 79* Earnings per Share Adjusted* [US Cents] 10.1 4.6 4.4 2.3 5.0* Dividends per Share [US Cents] 6.0 4.5 3.0 3.0 3.0 Regulatory Capital 22% 22% 24% 24% 21% 2014 Reported loss 151 million US Dollars 2014 Reported loss per share 9.5 US Cents

* Excludes incremental loan loss expense of $115 million and non-cash goodwill impairment charge of $116 million associated with revised expectations for the extent and timing of recovery in the Caribbean

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TOTAL REVENUE AND OPERATING EXPENSES

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528 530 543 507 563 350 397 343 338 317 2013 2011 2012 2010 2014 Expenses Revenue US$ millions Efficiency Ratio: 66% 56% 67% 63% 75%

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LOANS AND ADVANCES AND CUSTOMERS DEPOSITS

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6,140 6,329 6,832 6,616 6,576 9,200 9,623 9,641 9,415 7,988 2013 2012 2011 2010 2014 Deposits Loans US$ millions

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2015Q1 PERFORMANCE

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Q1 Financial Trend [US$ millions] 2013 2014 2015 Trend Net Income 19 15 27 Revenue 131 137 130 Operating Expenses 87 89 85 Loan Loss Expenses 24 31 16 Loans 6,597 6,263 5,970 Deposits 9,633 9,320 9,349 2015Q1 Reported profit 27 million US Dollars

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  • Summary
  • Financial Performance
  • Strategic Priorities
  • Community
  • Conclusion

AGENDA

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STRATEGIC PRIOITIES  Cultivating deeper relationship with our clients  Focusing on value for our clients through understanding their needs  Competing in businesses where we can leverage expertise to deliver value  Pursuing risk-controlled growth in the region  Continuously investing in our client base, people and infrastructure

CIBC FirstCaribbean remains committed to our strategic priorities

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RISK CONTROLLED GROWTH

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The branch network and sales processes are being reconfigured to accelerate profitable revenue growth

 Opened Mortgage and Loan Centres in The Bahamas, Barbados, Grand Cayman, Antigua, and St. Lucia  Continue to improve credit adjudication processes to:  Turn around loan applications more rapidly  Improve the experience of customers

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INVESTING IN OUR CLIENTS AND INFRASTRUCTURE

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We continue to leverage CIBC’s deep expertise in Infrastructure Arranging and Financing and have expanded our offering in Private Wealth Management

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INVESTING IN OUR PEOPLE

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CIBC FirstCaribbean continues to make substantial investments in staff education and skill enhancement

 Subsidized post- secondary tuition  General management and people management coaching  Training in specific products, systems and process

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  • Summary
  • Financial Performance
  • Strategic Priorities
  • Community
  • Conclusion

AGENDA

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COMMUNITY PARTNERSHIP

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 University of the West Indies  Sickkids-Caribbean  Staff volunteerism: Adopt-a-Cause

The Bank maintained community giving despite the challenging economic climate

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COMMUNITY PARTNERSHIP

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The Bank maintained community giving despite the challenging economic climate

 Walk for the Cure raised a record US$200,000 regionally  Attracted 3,000 walkers and runners and 85 corporate sponsors  Funds go towards the care and support of those living with cancer

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  • Summary
  • Financial Performance
  • Strategic Priorities
  • Community
  • Conclusion

AGENDA

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 Fiscal 2014 was a challenging year for the Bank as a number of legacy problems were confronted directly and remediated  I wish to thank our customers and staff for their support and loyalty during the year  We remain confident about the Bank’s future and our commitment to the Caribbean region is resolute

  • Ongoing investments position the institution for

growth as the economies improve

CONCLUSION

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TRIBUTE

Michael Mansoor, Executive Chairman of the Board Emeritus

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RESTRICTED | FirstCaribbean International Bank