FirstCaribbean International bank (Bahamas)
FirstCaribbean Bahamas has achieved a significant improvement in return to shareholders by focusing on its customers, costs and management controls. It has expanded its service offerings and restructured some of its key business units to service its customers more effectively.
It has improved its processes to gain efficiency and synergies from its historic merger of three years ago.
“We have enhanced our branch footprint with the relocation of our Cable Beach branch to enlarged facilities at Sandyport, which is better positioned to service customers in western New Providence,” says managing director Sharon Brown. “We have also launched our internet banking service, which was very well received and allows customers to pay specified insurance, utility and credit card bills. We have restructured our corporate and retail businesses to enable us to meet our customers’ requirements better; and we have expanded our services to corporate customers with the introduction of a capital markets service in The Bahamas.
“Our last fiscal year has reflected the bank’s very strong performance. Total assets grew by 7.6% as a result of a very strong growth in loans of 17%. Customer and bank deposits rose by 5% in the same period.”
