Presentation to the Annual General Meeting Rik Parkhill, Chief - - PowerPoint PPT Presentation

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Presentation to the Annual General Meeting Rik Parkhill, Chief - - PowerPoint PPT Presentation

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Presentation to the Annual General Meeting Rik Parkhill, Chief Executive Officer March 22, 2012 AGENDA Summary Performance Metrics Operating Performance Business Organisation Conclusion 1 SUMMARY 2011 was an economically

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Presentation to the Annual General Meeting

March 22, 2012 Rik Parkhill, Chief Executive Officer

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  • Summary
  • Performance Metrics
  • Operating Performance
  • Business Organisation
  • Conclusion

AGENDA

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 2011 was an economically challenging year for the Caribbean

  • Increase in tourist arrivals, but 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  Acquired CIBC Bank and Trust (Cayman) Limited and CIBC

Trust Company (Bahamas) Limited

SUMMARY

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  • Summary
  • Performance Metrics
  • Operating Performance
  • Business Organisation
  • Conclusion

AGENDA

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CUSTOMER

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 Opened new model branch in Wildey, Barbados offering tailored experiences to each client segment  Introduced Bill Payment on Mobile Banking  Launched e-cheque to allow simpler electronic commercial payments  Deepened our advisory services for institutional clients

The bank continues to improve customer experience

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SLIDE 6

CIBC CO BRANDING

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 Launched June 20th 2011  Combined the strength of the two powerful brands of both CIBC and FirstCaribbean  CIBC named the fourth strongest bank in the world by Bloomberg Markets magazine in May of 2011

CIBC FirstCaribbean represents the proud heritage and uniqueness of the Caribbean region, backed by the financial strength of CIBC

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OUR PEOPLE

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78 75 73 Jan 11 Jan 10 Oct 08

The bank remained focused on opportunities to assist employees to grow and develop

 Training in new products, customer service and leadership development  Redesigned performance management process Employee Satisfaction Index Percent

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SLIDE 8

COMMUNITY PARTNERSHIP

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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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  • Summary
  • Performance Metrics
  • Operating Performance
  • Business Organisation
  • Conclusion

AGENDA

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FINANCIAL SUMMARY

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Given the current economic environment, management believes it prudent to reduce dividend levels until earnings demonstrate sustainable improvement 2007 2008 2009 2010 2011 Net Income* (US$ millions) 209 180 157 117 73 Earnings per Share (US Cents) 16.8 11.5 11.2 10.1 4.6 Dividends per Share(US Cents) 6.3 6.0 6.0 6.0 4.5 Regulatory Capital 17% 20% 22% 22% 22% Return on Equity 16.3% 13.3% 12.3% 10.2% 4.6%

* Adjusted for one-off items

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SLIDE 11

TOTAL REVENUE AND OPERATING EXPENSES

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507 563 568 551 554 338 317 320 314 302 2010 2011 2008 2009 2007 Revenue Expenses US$ millions

2007 normalised for one-off items greater than US$50 million

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SLIDE 12

LOANS AND ADVANCES AND CUSTOMERS DEPOSITS

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6,591 6,576 6,905 6,814 6,080 7,943 8,658 9,196 9,276 9,399 2011 2008 2010 2009 2007 Loans Deposits US$ millions

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LOAN LOSS EXPENSES 87 62 43 32 17 2007 2010 2009 2008 2011

Non-performing loans are too high . . .

US$ millions

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  • Summary
  • Performance Metrics
  • Operating Performance
  • Business Organisation
  • Conclusion

AGENDA

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BUSINESS ORGANISATION AND LEADERSHIP

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RESTRICTED | FirstCaribbean International Bank

  • Mr. Trevor Torzsas

Charged with enhancing client service across the business – focus on developing a penchant for client service

  • Mr. Rolf Phillips

Leading Retail Banking, Small Business and Cards

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SLIDE 16

BUSINESS ORGANISATION AND LEADERSHIP

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RESTRICTED | FirstCaribbean International Bank

  • Mr. Ian Chinapoo

Leading an integrated Investment Banking and Corporate Lending business line

  • Mr. Mark Young

Leading Wealth Management – International Banking and Private Banking

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  • Summary
  • Performance Metrics
  • Operating Performance
  • Business Organisation
  • Conclusion

AGENDA

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 2011 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

 Continued economic uncertainty in 2012

CONCLUSION

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Presentation to the Annual General Meeting

March 22, 2012 Rik Parkhill, Chief Executive Officer