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1 1 Presentation to the FirstCaribbean Group Annual General - - PowerPoint PPT Presentation
1 1 Presentation to the FirstCaribbean Group Annual General - - PowerPoint PPT Presentation
1 1 Presentation to the FirstCaribbean Group Annual General Meeting 2011 March 24 Agenda Summary Strategy Performance Metrics Operating Performance Conclusion 3 Summary 2010 was an economically challenging year for the
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Agenda
- Summary
- Strategy
- Performance Metrics
- Operating Performance
- Conclusion
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Summary
2010 was an economically challenging year for the Caribbean
- Fewer tourist arrivals and lower spend-per-head
- Economic stagnation and low interest rates
- Stressed credit conditions in the banking sector
FirstCaribbean’s core franchise remains strong
Capital asset ratio of 22% – well in excess of statutory
requirements
Bank is well positioned for growth
Majority owned by CIBC, one of the most well-capitalised banks in North America
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Agenda
- Summary
- Strategy
- Performance Metrics
- Operating Performance
- Conclusion
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Balance Sheet Management Client Value
Strategy
Diversification Productivity and Control CIBC Partnership
- Enhance the relationships, service and products we
deliver to clients to enable increased earnings and return
- n capital
- Diversify our income streams and geographic footprint
- Numerous initiatives to optimise return for risk taken
- Improve our productivity – reengineer inefficient processes
to enhance client experience and control
- Leverage our relationship with CIBC to bring best
practice and enhance client experience
The bank’s strategy has five key elements
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Agenda
- Summary
- Strategy
- Performance Metrics
- Operating Performance
- Conclusion
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Customer
First regional bank to offer mobile banking Enhanced internet banking functionality and introduced online product applications Upgraded Automatic Banking Machines (ABMs) Reduced account opening to between 15 and 20 minutes from about an hour New products launched
76 77 78 2008 2009 2010
Customer Satisfaction Index Percent
The bank continues to improve customer experience
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Our People
Employee Satisfaction Index Percent
The bank renewed focus on opportunities for employees to grow and develop
Leadership and succession planning Employee development Employee communication Performance management Improving employee benefits
73 75 78 2008 2009 2010
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Community Partnership
The bank again invested 1% of profit in community causes
Unsung Heroes Staff volunteerism: Adopt -a-Cause University of the West Indies Youth Entrepreneurship
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Agenda
- Summary
- Strategy
- Performance Metrics
- Operating Performance
- Conclusion
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Financial Summary
Net Income Earnings per Share US$157 Million US 10.3 cents Regulatory Capital 22% Return on Equity 10.2%
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Total Revenue and Operating Expenses
492 554 551 568 552 295 302 314 320 317 2006 2007 2008 2009 2010 Revenue Expenses
US$ millions
2007 normalised for one-off items
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60 55 57 56 57 2006 2007 2008 2009 2010
Productivity – Cost to Income Ratio
Percent
2007 normalised for one-off items
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Loans and Advances to Customers and Customer Deposits
5,631 6,080 6,814 6,905 9,136 9,276 8,658 7,943 6,576 9,196 2006 2007 2008 2009 2010
Loans Deposits
US$ millions
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Summary
2010 was an economically challenging year for the Caribbean FirstCaribbean’s core franchise remains strong
Capital asset ratio of 22% – well in excess of statutory
requirements
Bank is well positioned for growth
Majority owned by CIBC, one of the most well-capitalised banks in North America Continued economic uncertainty in 2011, but signs of economic recovery
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Presentation to the FirstCaribbean Group Annual General Meeting
2011 March 24
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