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Antilliaans Dagblad Maandag 15 april 2019          ADVERTENTIE                                                    11



      FirstCaribbean International Bank (Cayman) Limited
      Financial Statements
      For the year ended October 31, 2018 (expressed in thousands of United States dollars)
                                                               Due from banks, Loans and advances to customers, Financial investments at amortised cost
      CONSOLIDATED STATEMENT OF INCOME                          ÄÛĮŝÄŶFĮǦÄĜžÄŝŶĸ³ŶƆǷĸŬ³Ŷ ƋÄŶÛŝĮĜŶž†ġĎŶ†ġ¸Ŷ?Į†ġŤŶ†ġ¸Ŷ†¸Ǧ†ġ¨ÄŤŶŹĮŶ¨ƋŤŹĮĜÄŝŤ³ŶĀġ¨đƋ¸Ä¸ŶġĮġÓ¸ÄŝĀǦ†ŹĀǦÄŶÜġ†ġ¨Ā†đŶ†ŤŤÄŹŤŶ
                                                               ǧĀŹûŶÜǬĸŶĮŝŶ¸ÄŹÄŝĜĀġ†žđÄŶŅ†ǭĜÄġŹŤŶŹû†ŹŶǧÄŝÄŶġĮŹŶŒƋĮŹÄ¸ŶĀġŶ†ġŶ†¨ŹĀǦÄŶĜ†ŝĎÄŹ³ŶĮŹûÄŝŶŹû†ġŶŹûĮŤÄ²
                                               2018    2017    §Ŷ dû†ŹŶŹûÄŶ †ġĎŶĀġŹÄġ¸Ä¸ŶŹĮŶŤÄđđŶĀĜĜĸĀ†ŹÄđǭŶĮŝŶĀġŶŹûÄŶġĆŝŶŹÄŝĜ
                                                 $       $     §Ŷ dû†ŹŶŹûÄŶ †ġĎ³ŶƋŅĮġŶĀġĀŹĀ†đŶŝĨĮéġĀŹĀĮġ³Ŷ¸ÄŤĀéġ†ŹÄ¸Ŷ†ŤŶ†ŹŶۆĀŝŶǦ†đƋÄŶŹûŝĮƋéûŶŅŝĮÜŹŶĮŝŶđĮŤŤŶŇŗ'sX?ŘňŶĮŝŶ†Ť
                                                                available-for-sale (“AFS”)
                                                               §Ŷ 'ĮŝŶǧûĀ¨ûŶŹûÄŶ †ġĎŶĜ†ǭŶġĮŹŶŝĨĮǦÄŝŶŤƋžŤŹ†ġŹĀ†đđǭŶ†đđŶĮÛŶĀŹŤŶĀġĀŹĀ†đŶĀġǦÄŤŹĜÄġŹ³ŶĮŹûÄŝŶŹû†ġŶžÄ¨†ƋŤÄŶĮÛŶ¨ŝĸĀŹ
      Interest and similar income           ŶŶŶŶŶŶŶŶŶĸƆű³ƆäÝŶ  ŶŶŶŶŶŶŶŶŶĸǷƆ³ÝäűŶ    deterioration, which were designated as available-for-sale.
      Interest and similar expense                     24,976   ŶŶŶŶŶŶŶŶŶŶŶĸĦ³ÝűĸŶ
                                                               'ŝĮĜŶFĮǦÄĜžÄŝŶĸ³ŶƆǷĸŬ³ŶŹûÄŶ †ġĎŶĮġđǭŶĜĆŤƋŝÄŤŶ ƋÄŶÛŝĮĜŶž†ġĎŤ³Ŷ?Į†ġŤŶ†ġ¸Ŷ†¸Ǧ†ġ¨ÄŤŶŹĮŶ¨ƋŤŹĮĜÄŝŤŶ†ġ¸ŶĮŹûÄŝŶÜġ†ġ¨Ā†đŶ
      Net interest income                            101,269   ŶŶŶŶŶŶŶŶŶŶŶÌƆ³ĦÌÝŶ  investments at amortised cost if both of the following conditions are met:
                                                               §Ŷ dûÄŶÜġ†ġ¨Ā†đŶ†ŤŤÄŹŶĀŤŶûÄđ¸ŶǧĀŹûĀġŶ†ŶžƋŤĀġÄŤŤŶĜĮ¸ÄđŶǧĀŹûŶŹûÄŶĮžČĨŹĀǦÄŶŹĮŶûĮđ¸ŶÜġ†ġ¨Ā†đŶ†ŤŤÄŹŤŶĀġŶĮŝ¸ÄŝŶŹĮŶ¨ĮđđĨŹ
      Fee and Commission income                        17,944              17,309   Ŷ ¨ĮġŹŝ†¨ŹƋ†đŶ¨†ŤûŶâĮǧŤ
                                                               §Ŷ dûÄŶ¨ĮġŹŝ†¨ŹƋ†đŶŹÄŝĜŤŶĮÛŶŹûÄŶÜġ†ġ¨Ā†đŶ†ŤŤÄŹŶéĀǦÄŶŝĀŤÄŶĮġŶŤŅĨĀÜĸŶ¸†ŹÄŤŶŹĮŶ¨†ŤûŶâĮǧŤŶŹû†ŹŶ†ŝÄŶŤĮđÄđǭŶŅ†ǭĜÄġŹŤŶĮÛ
      Net trading losses                               (1,321)  ŶŶŶŶŶŶŶŶŶŶŶŶŶŇƆÝäň
      Realised gains from investment securities                 448                  288     principal and interest (SPPI) on the principal amount outstanding.
      Other operating income                ŶŶŶŶŶŶŶŶŶŶŶĸǷ³ÌŬÝŶ             10,398
                                                               Debt instruments at Fair Value through Other Comprehensive Income (“FVOCI”) (Policy applicable from November 1, 2017)
                                                               The Bank applies the new category under IFRS 9 of debt instruments measured at FVOCI when both of the following
      Operating income                                 27,946              27,741   conditions are met:
                                                               §Ŷ dûÄŶĀġŤŹŝƋĜÄġŹŶĀŤŶûÄđ¸ŶǧĀŹûĀġŶ†ŶžƋŤĀġÄŤŤŶĜĮ¸Äđ³ŶŹûÄŶĮžČĨŹĀǦÄŶĮÛŶǧûĀ¨ûŶĀŤŶ†¨ûĀÄǦĸŶžǭŶžĮŹûŶ¨ĮđđĨŹĀġéŶ¨ĮġŹŝ†¨ŹƋ†đŶ¨†Ťû
      Total revenue                         ŶŶŶŶŶŶŶŶŶĸƆĦ³ƆĸÝŶ           110,726   Ŷ âĮǧŤŶ†ġ¸ŶŤÄđđĀġéŶÜġ†ġ¨Ā†đŶ†ŤŤÄŹŤ
                                                               §Ŷ dûÄŶ¨ĮġŹŝ†¨ŹƋ†đŶŹÄŝĜŤŶĮÛŶŹûÄŶÜġ†ġ¨Ā†đŶ†ŤŤÄŹŶĜÄÄŹŶŹûÄŶ^XX0ŶŹÄŤŹ
      Salaries and other employee expenses             24,813   ŶŶŶŶŶŶŶŶŶŶŶƆŽ³ÝŬÌŶ
      Occupancy expenses                               10,668              10,134   dûÄŤÄŶĀġŤŹŝƋĜÄġŹŤŶđ†ŝéÄđǭŶ¨ĮĜŅŝĀŤÄŶĮÛŶ†ŤŤÄŹŤŶŹû†ŹŶû†¸ŶŅŝÄǦĀĮƋŤđǭŶžÄÄġŶ¨đ†ŤŤĀÜĸŶ†ŤŶÜġ†ġ¨Ā†đŶĀġǦÄŤŹĜÄġŹŤŶ†Ǧ†Āđ†žđÄŶ
                                                               for-sale under IAS 39.
       ǬŅĨŹÄ¸Ŷ¨ŝĸĀŹŶđĮŤŤÄŤŶĮġŶÜġ†ġ¨Ā†đŶ†ŤŤÄŹŤ              8,293   ŶŶŶŶŶŶŶŶŶŶŶŶݳŽÝĸŶ
      Other operating expenses              ŶŶŶŶŶŶŶŶŶŶŶƆĸ³ÝÌűŶ  ŶŶŶŶŶŶŶŶŶŶŶƆݳĸÝÝŶ
                                                               FVOCI debt instruments are subsequently measured at fair value with gains and losses arising due to changes in fair
                                                               value recognised in Other Comprehensive Income (“OCI”). Interest income and foreign exchange gains and losses are
      Operating expenses                    ŶŶŶŶŶŶŶŶŶŶŶűݳŽűǷŶ             64,218   ŝĨĮéġĀŤÄ¸ŶĀġŶŅŝĮÜŹŶĮŝŶđĮŤŤŶĀġŶŹûÄŶŤ†ĜÄŶĜ†ġġÄŝŶ†ŤŶÛĮŝŶÜġ†ġ¨Ā†đŶ†ŤŤÄŹŤŶĜĆŤƋŝĸŶ†ŹŶ†ĜĮŝŹĀŤÄ¸Ŷ¨ĮŤŹŋŶtûÄŝÄŶŹûÄŶ †ġĎŶûĮđ¸ŤŶ
                                                               ĜĮŝÄŶŹû†ġŶĮġÄŶĀġǦÄŤŹĜÄġŹŶĀġŶŹûÄŶŤ†ĜÄŶŤÄ¨ƋŝĀŹǭ³ŶŹûÄǭŶ†ŝÄŶ¸ÄÄĜĸŶŹĮŶžÄŶ¸ĀŤŅĮŤÄ¸ŶĮÛŶĮġŶ†ŶÜŝŤŹÓĀġŶÜŝŤŹÓĮƋŹŶž†ŤĀŤŋŶKġŶ
      Net result before tax                 ŶŶŶŶŶŶŶŶŶŶŶűŽ³ÌÝÝŶ  ŶŶŶŶŶŶŶŶŶŶäű³ÝǷÌŶ  ¸ÄŝĨĮéġĀŹĀĮġ³Ŷ¨ƋĜƋđ†ŹĀǦÄŶé†ĀġŤŶĮŝŶđĮŤŤÄŤŶŅŝÄǦĀĮƋŤđǭŶŝĨĮéġĀŤÄ¸ŶĀġŶK 0Ŷ†ŝÄŶŝÄ¨đ†ŤŤĀÜĸŶÛŝĮĜŶK 0ŶŹĮŶŅŝĮÜŹŶĮŝŶđĮŤŤŋ
      XŝĮÜŹŶŹ†ǬŶÄǬŅÄġŤÄŵҨŝĸĀŹň            ŶŶŶŶŶŶŶŶŶŶŶŶĸ³ĦÝĦŶ               (106)   ǥ†Āđ†žđÄÿÛĮŜÿţ†đÄŵÜġ†ġ¨Ā†đŵĀġǥÄţŸĜÄġŸţŵŇXĮđĀ¨Ǭŵ†ŅŅđĀ¨†žđÄŵžÄÛĮŜÄŵFĮǥÄĜžÄŜŵĸ³ŵƅǶĸūň
                                                                Ǧ†Āđ†žđÄÿÛĮŝÿŤ†đÄŶŇŗ '^ŘňŶĀġǦÄŤŹĜÄġŹŶŤÄ¨ƋŝĀŹĀÄŤŶ†ŝÄŶŹûĮŤÄŶĀġŹÄġ¸Ä¸ŶŹĮŶžÄŶûÄđ¸ŶÛĮŝŶ†ġŶĀġ¸ÄÜġĀŹÄŶŅÄŝĀĮ¸ŶĮÛŶŹĀĜijŶǧûĀ¨ûŶĜ†ǭŶ
      Net result after tax                             61,896              46,614   be sold in response to needs for liquidity or changes in interest rates, exchange rates or equity prices.
                                                               'Āġ†ġ¨Ā†đŶ†ŤŤÄŹŤ³ŶġĮŹŶ¨†ŝŝĀĸŶ†ŹŶۆĀŝŶǦ†đƋÄŶŹûŝĮƋéûŶŅŝĮÜŹŶĮŝŶđĮŤŤ³Ŷ†ŝÄŶĀġĀŹĀ†đđǭŶŝĨĮéġĀŤÄ¸Ŷ†ŹŶۆĀŝŶǦ†đƋÄŶŅđƋŤŶŹŝ†ġŤ†¨ŹĀĮġŶ¨ĮŤŹŤŋŶ
                                                               'Āġ†ġ¨Ā†đŶ†ŤŤÄŹŤŶ†ŝÄŶ¸ÄŝĨĮéġĀŤÄ¸ŶǧûÄġŶŹûÄŶŝĀéûŹŶŹĮŶŝĨÄĀǦÄŶŹûÄŶ¨†ŤûŶâĮǧŤŶÛŝĮĜŶŹûÄŶÜġ†ġ¨Ā†đŶ†ŤŤÄŹŤŶû†ŤŶÄǬŅĀŝĸŶĮŝŶǧûÄŝÄŶ
                                                               the Bank has transferred substantially all risks and rewards of ownership.
       EXPLANATORY NOTES TO THE CONSOLIDATED FINANCIAL HIGHLIGHTS
                                                                Ǧ†Āđ†žđÄÿÛĮŝÿŤ†đÄŶ†ġ¸ŶÜġ†ġ¨Ā†đŶ†ŤŤÄŹŤŶĮŝŶđĀ†žĀđĀŹĀÄŤŶ†ŹŶۆĀŝŶǦ†đƋÄŶŹûŝĮƋéûŶŅŝĮÜŹŶĮŝŶđĮŤŤŶ†ŝÄŶŤƋžŤÄŒƋÄġŹđǭŶŝÄÿĜĆŤƋŝĸŶ†ŹŶ
                                                               ۆĀŝŶǦ†đƋÄŶž†ŤÄ¸ŶĮġŶŒƋĮŹÄ¸ŶžĀ¸ŶŅŝĀ¨ÄŤŶĮŝŶ†ĜĮƋġŹŤŶ¸ÄŝĀǦĸŶÛŝĮĜŶ¨†ŤûŶâĮǧŶĜĮ¸ÄđŤŋŶhġŝĆđĀŤÄ¸Ŷé†ĀġŤŶ†ġ¸ŶđĮŤŤÄŤŶ†ŝĀŤĀġéŶÛŝĮĜŶ
                                               2018    2017
      I. Assets                                  $         $           ¨û†ġéÄŤŶĀġŶŹûÄŶۆĀŝŶǦ†đƋÄŶĮÛŶŤÄ¨ƋŝĀŹĀÄŤŶ¨đ†ŤŤĀÜĸŶ†ŤŶ†Ǧ†Āđ†žđÄÿÛĮŝÿŤ†đÄŶ†ŝÄŶŝĨĮéġĀŤÄ¸ŶĀġŶĮŹûÄŝŶ¨ĮĜŅŝÄûÄġŤĀǦÄŶĀġ¨ĮĜÄŋŶtûÄġŶ
                                                               the securities are disposed of or impaired, the related accumulated fair value adjustments are included in the
                                                               consolidated statement of income as gains and losses from investment securities.
      Investment securities
                                                                  0ĜŅ†ĀŜĜÄġŸŵĮÛŵÜġ†ġ¨Ā†đŵ†ţţÄŸţŵŇXĮđĀ¨Ǭŵ†ŅŅđĀ¨†žđÄŵÛŜĮĜŵFĮǥÄĜžÄŜŵĸ³ŵƅǶĸūň
      Debt instruments at fair value through OCI  724,112           724,480
                                                               IFRS 9 has fundamentally changed the Bank’s loan loss impairment method by replacing IAS 39’s incurred loss approach
                                                               with a forward-looking ECL approach. From November 1 2017, the Bank has been recording the allowance for expected
      Loans and advances to customers                          ¨ŝĸĀŹŶđĮŤŤÄŤŶŇŗ  ?ŘňŶÛĮŝŶ†đđŶđĮ†ġŤŶ†ġ¸ŶĮŹûÄŝŶ¸ÄžŹŶÜġ†ġ¨Ā†đŶ†ŤŤÄŹŤŶġĮŹŶûÄđ¸Ŷ†ŹŶ'sX?ŶŹĮéÄŹûÄŝŶǧĀŹûŶđĮ†ġŶ¨ĮĜĜĀŹĜÄġŹŤŶ†ġ¸Ŷ
      Retail Customers                        626,371  Ýĸű³ĦÝǷ  Üġ†ġ¨Ā†đŶéƋ†ŝ†ġŹÄÄŶ¨ĮġŹŝ†¨ŹŤ³ŶĀġŶŹûĀŤŶŤÄ¨ŹĀĮġŶ†đđŶŝÄÛÄŝŝĸŶŹĮŶ†ŤŶřÜġ†ġ¨Ā†đŶĀġŤŹŝƋĜÄġŹŤŚŋŶ ŒƋĀŹǭŶĀġŤŹŝƋĜÄġŹŤŶ†ŝÄŶġĮŹŶŤƋžČĨŹŶ
      Corporate customers                    ĸ³ǷǷŬ³ÝĸƆ  962,073  to impairment under IFRS 9.
      Public sector customers                 142,021  162,676
      Total loans and advances              ŶŶŶŶŶŶĸ³ŬŬݳĦǷäŶ  1,641,699   The ECL allowance is based on the credit losses expected to arise over the life of the asset (the lifetime expected credit
      Less: Provisions for impairment       ŶŶŶŶŶŶŶŶŶŇŽű³ŽŬÝň           (31,132)  đĮŤŤŶĮŝŶ?d  ?ň³ŶƋġđÄŤŤŶŹûÄŝÄŶû†ŤŶžÄÄġŶġĮŶŤĀéġĀܨ†ġŹŶĀġ¨ŝĆŤÄŶĀġŶ¨ŝĸĀŹŶŝĀŤĎŶŤĀġ¨ÄŶĮŝĀéĀġ†ŹĀĮġ³ŶĀġŶǧûĀ¨ûŶ¨†ŤÄ³ŶŹûÄŶ†đđĮǧ†ġ¨ÄŶĀŤŶ
                                                               based on the 12 months’ expected credit loss (“12mECL”).
      Net Loans and advances                ŶŶŶŶŶŶĸ³ŬŽĦ³ÝƆĦŶ  ŶŶŶŶŶŶĸ³űĸǷ³ÝűŬŶ
                                                               dûÄŶ †ġĎŶû†ŤŶÄŤŹ†žđĀŤûĸŶ†ŶŅĮđĀ¨ǭŶŹĮŶŅÄŝÛĮŝĜŶ†ġŶ†ŤŤÄŤŤĜÄġŹ³Ŷ†ŹŶŹûÄŶÄġ¸ŶĮÛŶƨûŶŝÄŅĮŝŹĀġéŶŅÄŝĀĮ¸³ŶĮÛŶǧûÄŹûÄŝŶ†ŶÜġ†ġ¨Ā†đŶ
                                                               ĀġŤŹŝƋĜÄġŹŚŤŶ¨ŝĸĀŹŶŝĀŤĎŶû†ŤŶĀġ¨ŝƍĸŶŤĀéġĀܨ†ġŹđǭŶŤĀġ¨ÄŶĀġĀŹĀ†đŶŝĨĮéġĀŹĀĮġ³ŶžǭŶ¨ĮġŤĀ¸ÄŝĀġéŶŹûÄŶ¨û†ġéÄŶĀġŶŹûÄŶŝĀŤĎŶĮÛŶ¸ÄۆƋđŹŶ
      II. Liabilities
                                                               Į¨¨ƋŝŝĀġéŶĮǦÄŝŶŹûÄŶŝÄĜ†ĀġĀġéŶđĀÛÄŶĮÛŶŹûÄŶÜġ†ġ¨Ā†đŶĀġŤŹŝƋĜÄġŹŋŶ
      Customer deposits                                        The Bank calculates ECLs based on probability-weighted scenarios to measure the expected cash shortfalls, discounted at
      Retail customers                        ŬƆŽ³ÝÝŬ  ŬŽű³ÌǷÝ  †ġŶ†ŅŅŝĮǬĀĜ†ŹĀĮġŶŹĮŶŹûÄŶÄÛÛĨŹĀǦÄŶĀġŹÄŝÄŤŹŶŝ†ŹÄŶŇŗ 0ZŘňŋŶ Ŷ¨†ŤûŶŤûĮŝŹÛ†đđŶĀŤŶŹûÄŶ¸ĀÛÛÄŝÄġ¨ÄŶžÄŹǧÄÄġŶŹûÄŶ¨†ŤûŶâĮǧŤŶŹû†ŹŶ†ŝÄŶ
      Corporate customers                   ŶŶŶŶŶŶƆ³ĸÝŽ³ĸĸĦŶ        2,192,670   ¸ƋÄŶŹĮŶ†ġŶÄġŹĀŹǭŶĀġŶ†¨¨Įŝ¸†ġ¨ÄŶǧĀŹûŶŹûÄŶ¨ĮġŹŝ†¨ŹŶ†ġ¸ŶŹûÄŶ¨†ŤûŶâĮǧŤŶŹû†ŹŶŹûÄŶÄġŹĀŹǭŶÄǬŅĨŹŤŶŹĮŶŝĨÄĀǦÄŋ
      Total customer deposits                     2,876,676   ŶŶŶŶŶŶƆ³ĦƆĦ³äŬÝŶ
                                                               The inputs and models used for calculating ECLs may not always capture all characteristics of the market at the date of
                                                               ŹûÄŶÜġ†ġ¨Ā†đŶŤŹ†ŹÄĜÄġŹŤŋŶdĮŶŝÄâĨŹŶŹûĀŤ³ŶŒƋ†đĀŹ†ŹĀǦÄŶ†¸ČƋŤŹĜÄġŹŤŶĮŝŶĮǦÄŝđ†ǭŤŶ†ŝÄŶĮ¨¨†ŤĀĮġ†đđǭŶĜ†¸ÄŶ†ŤŶŹÄĜŅĮŝ†ŝǭŶ
                                                               †¸ČƋŤŹĜÄġŹŤŶǧûÄġŶŤƋ¨ûŶ¸ĀÛÛÄŝÄġ¨ÄŤŶ†ŝÄŶŤĀéġĀܨ†ġŹđǭŶĜ†ŹÄŝĀ†đŋŶ
       1. General
       FirstCaribbean International Bank (Cayman) Limited (“Bank”) is a wholly owned subsidiary of FirstCaribbean International   Debt instruments measured at fair value through OCI
       Bank Limited (“Parent”), a company incorporated in Barbados. The major shareholder of the Parent is Canadian Imperial   dûÄŶ  ?ŤŶÛĮŝŶ¸ÄžŹŶĀġŤŹŝƋĜÄġŹŤŶĜĆŤƋŝĸŶ†ŹŶ'sK 0Ŷ¸ĮŶġĮŹŶŝĸƋ¨ÄŶŹûÄŶ¨†ŝŝǭĀġéŶ†ĜĮƋġŹŶĮÛŶŹûÄŤÄŶÜġ†ġ¨Ā†đŶ†ŤŤÄŹŤŶĀġŶŹûÄŶ
       Bank of Commerce (“CIBC”), a company incorporated in Canada. The Bank is principally engaged in retail banking, wholesale   ŤŹ†ŹÄĜÄġŹŶĮÛŶÜġ†ġ¨Ā†đŶŅĮŤĀŹĀĮġ³ŶǧûĀ¨ûŶŝÄĜ†ĀġŤŶ†ŹŶۆĀŝŶǦ†đƋÄŋŶ0ġŤŹÄ†¸³Ŷ†ġŶ†ĜĮƋġŹŶÄŒƋ†đŶŹĮŶŹûÄŶ†đđĮǧ†ġ¨ÄŶŹû†ŹŶǧĮƋđ¸Ŷ†ŝĀŤÄŶĀÛŶ
       banking, and wealth management services within its wholly owned subsidiaries and branches within the Cayman Islands,   the assets were measured at amortised cost is recognised in OCI as an accumulated impairment amount, with a
       Curacao, St. Maarten, Aruba and the British Virgin Islands.
                                                               ¨ĮŝŝÄŤŅĮġ¸ĀġéŶ¨û†ŝéÄŶŹĮŶŅŝĮÜŹŶĮŝŶđĮŤŤŋŶdûÄŶ†¨¨ƋĜƋđ†ŹÄ¸ŶđĮŤŤŶŝĨĮéġĀŤÄ¸ŶĀġŶK 0ŶĀŤŶŝĨǭ¨đĸŶŹĮŶŹûÄŶŅŝĮÜŹŶ†ġ¸ŶđĮŤŤŶƋŅĮġŶ
       dûÄŶŅŝĀġ¨ĀŅ†đŶ†¨¨ĮƋġŹĀġéŶŅĮđĀ¨ĀÄŤŶ†¸ĮŅŹÄ¸ŶĀġŶŹûÄŶŅŝÄŅ†ŝ†ŹĀĮġŶĮÛŶĮƋŝŶ¨ĮġŤĮđĀ¸†ŹÄ¸ŶÜġ†ġ¨Ā†đŶŤŹ†ŹÄĜÄġŹŤŶ†ŝÄŶŤÄŹŶĮƋŹŶžÄđĮǧŋŶdûÄŶ  derecognition of the assets.
       ġĮŹÄŤŶ†ŝÄŶ†ġŶÄǬŹŝ†¨ŹŶĮÛŶŹûÄŶ¸ÄŹ†ĀđĸŶġĮŹÄŤŶŅŝÄŅ†ŝĸŶĀġŶĮƋŝŶŤŹ†ŹƋŹĮŝǭŶ¨ĮġŤĮđĀ¸†ŹÄ¸ŶÜġ†ġ¨Ā†đŶŤŹ†ŹÄĜÄġŹŤŋŶŶdûÄŶġĮŹÄŤŶ¸ÄŹ†ĀđĸŶ
       below coincide in all material respect with those from which they have been derived.  Impairment of Financial Assets (Policy applicable before November 1, 2017)
                                                               Loans and receivables
       2. Basis of preparation                                 dûÄŶ †ġĎŶ†ŤŤÄŤŤÄŤŶ†ŹŶƨûŶŝÄŅĮŝŹĀġéŶ¸†ŹÄŶǧûÄŹûÄŝŶŹûÄŝÄŶĀŤŶĮžČĨŹĀǦÄŶÄǦĀ¸Äġ¨ÄŶŹû†ŹŶ†ŶÜġ†ġ¨Ā†đŶ†ŤŤÄŹŶĮŝŶéŝĮƋŅŶĮÛŶÜġ†ġ¨Ā†đŶ
       dûÄŶ¨ĮġŤĮđĀ¸†ŹÄ¸ŶÜġ†ġ¨Ā†đŶŤŹ†ŹÄĜÄġŹŤŶĮÛŶŹûÄŶ †ġĎŶû†ǦÄŶžÄÄġŶŅŝÄŅ†ŝĸŶĀġŶ†¨¨Įŝ¸†ġ¨ÄŶǧĀŹûŶ0ġŹÄŝġ†ŹĀĮġ†đŶ'Āġ†ġ¨Ā†đŶZÄŅĮŝŹĀġéŶ  †ŤŤÄŹŤŶĀŤŶĀĜŅ†ĀŝĸŋŶ ŶÜġ†ġ¨Ā†đŶ†ŤŤÄŹŶĮŝŶ†ŶéŝĮƋŅŶĮÛŶÜġ†ġ¨Ā†đŶ†ŤŤÄŹŤŶĀŤŶĀĜŅ†ĀŝĸŶ†ġ¸ŶĀĜŅ†ĀŝĜÄġŹŶđĮŤŤÄŤŶ†ŝÄŶĀġ¨ƋŝŝĸŶĀÛ³Ŷ†ġ¸Ŷ
       Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”).
                                                               only if, there is objective evidence of impairment as a result of one or more events that occurred after the initial
       dûÄŤÄŶ¨ĮġŤĮđĀ¸†ŹÄ¸ŶÜġ†ġ¨Ā†đŶŤŹ†ŹÄĜÄġŹŤŶû†ǦÄŶžÄÄġŶŅŝÄŅ†ŝĸŶĮġŶ†ŶûĀŤŹĮŝĀ¨†đŶ¨ĮŤŹŶž†ŤĀŤ³ŶÄǬ¨ÄŅŹŶÛĮŝŶۆĀŝŶǦ†đƋÄŶŹûŝĮƋéûŶĮŹûÄŝŶ  ŝĨĮéġĀŹĀĮġŶĮÛŶŹûÄŶ†ŤŤÄŹŶ҆ŶđĮŤŤŶÄǦÄġŹňŶ†ġ¸ŶŹû†ŹŶđĮŤŤŶÄǦÄġŹŶŇĮŝŶÄǦÄġŹŤňŶû†ŤŶ†ġŶĀĜŅ†¨ŹŶĮġŶŹûÄŶÛƋŹƋŝÄŶ¨†ŤûŶâĮǧŤŶĮÛŶŹûÄŶ
       ¨ĮĜŅŝÄûÄġŤĀǦÄŶĀġ¨ĮĜÄŶŇŗ'sK 0ŘňŶ¸ÄžŹŶĀġŤŹŝƋĜÄġŹŤ³ŶÜġ†ġ¨Ā†đŶ†ŤŤÄŹŤŶ†ġ¸ŶđĀ†žĀđĀŹĀÄŤŶ†ŹŶۆĀŝŶǦ†đƋÄŶŹûŝĮƋéûŶŅŝĮÜŹŶ†ġ¸ŶđĮŤŤŶ†ġ¸Ŷ  Üġ†ġ¨Ā†đŶ†ŤŤÄŹŶĮŝŶéŝĮƋŅŶĮÛŶÜġ†ġ¨Ā†đŶ†ŤŤÄŹŤŶŹû†ŹŶ¨†ġŶžÄŶŝÄđĀ†žđǭŶÄŤŹĀĜ†ŹÄ¸ŋ
       ¸ÄŝĀǦ†ŹĀǦÄŶÜġ†ġ¨Ā†đŶĀġŤŹŝƋĜÄġŹŤ³ŶǧûĀ¨ûŶû†ǦÄŶ†đđŶžÄÄġŶĜĆŤƋŝĸŶ†ŹŶۆĀŝŶǦ†đƋÄŋŶdûÄŶ¨†ŝŝǭĀġéŶǦ†đƋÄŶĮÛŶŝĨĮéġĀŤÄ¸Ŷ†ŤŤÄŹŤŶŹû†ŹŶ
       are hedged items in fair value hedges, and otherwise carried at amortised cost, are adjusted to record changes in fair value   If there is objective evidence that an impairment loss on loans and advances carried at amortised cost has been incurred,
       †ŹŹŝĀžƋŹ†žđÄŶŶŹĮŶŹûÄŶŝĀŤĎŤŶŹû†ŹŶ†ŝÄŶžÄĀġéŶûĸéĸŋŶdûÄŶ¨ĮġŤĮđĀ¸†ŹÄ¸ŶÜġ†ġ¨Ā†đŶŤŹ†ŹÄĜÄġŹŤŶ†ŝÄŶŅŝÄŤÄġŹÄ¸ŶĀġŶhġĀŹÄ¸Ŷ^Ź†ŹÄŤŶ  the amount of the loss is measured as the difference between the carrying amount and the recoverable amount, being the
       Dollars (“USD”), and all values are rounded to the nearest thousand except where indicated otherwise.  ÄŤŹĀĜ†ŹÄ¸ŶŅŝÄŤÄġŹŶǦ†đƋÄŶĮÛŶÄǬŅĨŹÄ¸Ŷ¨†ŤûŶâĮǧŤ³ŶĀġ¨đƋ¸ĀġéŶ†ĜĮƋġŹŤŶŝĨĮǦÄŝ†žđÄŶÛŝĮĜŶéƋ†ŝ†ġŹÄÄŤŶ†ġ¸Ŷ¨Įđđ†ŹÄŝ†đ³Ŷ
       3. Basis of Consolidation                               ¸ĀŤ¨ĮƋġŹÄ¸Ŷž†ŤÄ¸ŶĮġŶŹûÄŶĮŝĀéĀġ†đŶÄÛÛĨŹĀǦÄŶĀġŹÄŝÄŤŹŶŝ†ŹÄŋŶ ŝĸĀŹŶ¨†ŝ¸ŤŶ†ŝÄŶġĮŹŶ¨đ†ŤŤĀÜĸŶ†ŤŶĀĜŅ†ĀŝĸŶ†ġ¸Ŷ†ŝÄŶÛƋđđǭŶǧŝĀŹŹÄġŶĮÛÛŶ
       dûÄŶ¨ĮġŤĮđĀ¸†ŹÄ¸ŶÜġ†ġ¨Ā†đŶŤŹ†ŹÄĜÄġŹŤŶ¨ĮĜŅŝĀŤÄŶŹûÄŶÜġ†ġ¨Ā†đŶŤŹ†ŹÄĜÄġŹŤŶĮÛŶŹûÄŶ †ġĎŶ†ġ¸ŶĀŹŤŶŤƋžŤĀ¸Ā†ŝĀÄŤŶ†ŤŶ†ŹŶK¨ŹĮžÄŝŶŽĸ³Ŷ  at the earlier of the notice of bankruptcy, settlement, proposal or when the payment is contractually 180 days in arrears.
       ƆǷĸÌŶŇŹûÄŶŗŝÄŅĮŝŹĀġéŶ¸†ŹÄŘňŋŶdûÄŶÜġ†ġ¨Ā†đŶŤŹ†ŹÄĜÄġŹŤŶĮÛŶŹûÄŶŤƋžŤĀ¸Ā†ŝĀÄŤŶ†ŝÄŶŅŝÄŅ†ŝĸŶÛĮŝŶŹûÄŶŤ†ĜÄŶŝÄŅĮŝŹĀġéŶǭĆŝŶ†ŤŶŹûÄŶ
       Bank, using consistent accounting policies.             AFS debt instruments
                                                                ġŶ '^Ŷ¸ÄžŹŶĀġŤŹŝƋĜÄġŹŶĀŤŶĀ¸ÄġŹĀÜĸŶ†ŤŶĀĜŅ†ĀŝĸŶǧûÄġŶŹûÄŝÄŶĀŤŶĮžČĨŹĀǦÄŶĮžŤÄŝǦ†žđÄŶÄǦĀ¸Äġ¨ÄŶ†žĮƋŹŶĮƋŝŶĀġ†žĀđĀŹǭŶŹĮŶ
       All subsidiaries, which are those companies controlled by the Bank, have been fully consolidated.  The following subsidiaries   collect the contractual principal or interest. When an AFS debt instrument is determined to be impaired, an impairment
       have been consolidated:
                                                               loss is recognised by reclassifying the cumulative unrealised losses in other comprehensive income to the consolidated
                                                               statement of income. Impairment losses previously recognised in the consolidated statement of income are reversed in
       Name                               Country of Incorporation
       FirstCaribbean International Bank (Cayman) Limited   Cayman Islands  the consolidated statement of income if the fair value subsequently increases and the increase can be objectively
       FirstCaribbean International Finance Corporation (Cayman) Limited   Cayman Islands  determined to relate to an event occurring after the impairment loss was recognised.
       FirstCaribbean International (Cayman) Nominees Company Limited   Cayman Islands
       FirstCaribbean International Finance Corporation (Netherland Antilles) Limited   Curacao
       FirstCaribbean International Bank (Curacao) N.V.   Curacao

       Control is achieved when the Bank is exposed, or has rights, to variable returns from its involvement with the investee
       †ġ¸Ŷû†ŤŶŹûÄŶ†žĀđĀŹǭŶŹĮŶ†ÛÛĨŹŶŹûĮŤÄŶŝÄŹƋŝġŤŶŹûŝĮƋéûŶĀŹŤŶŅĮǧÄŝŶĮǦÄŝŶŹûÄŶĀġǦÄŤŹÄÄŋŶ^ŅĨĀܨ†đđǭ³ŶŹûÄŶ †ġĎŶ¨ĮġŹŝĮđŤŶ†ġŶĀġǦÄŤŹÄÄŶ
       if and only if the Bank has: 1) Power over the investee (i.e. existing rights that give it the current ability to direct the
       relevant activities of the investee); 2) Exposure, or rights, to variable returns from its involvement with the investee; and
       3) The ability to use its power over the investee to affect its returns.
       äŋŶ ÄŤ¨ŝĀŅŹĀĮġŶĮÛŶŤĀéġĀܨ†ġŹŶ†¨¨ĮƋġŹĀġéŶŅĮđĀ¨ĀÄŤ
       The Bank early adopted IFRS 9 and the related IFRS 7R which are effective for annual periods beginning on or after 1
       January 2018. These standards were applied on a retrospective basis, with certain exceptions. As permitted, we did not
       ŝÄŤŹ†ŹÄŶĮƋŝŶŅŝĀĮŝŶŅÄŝĀĮ¸Ŷ¨ĮĜŅ†ŝ†ŹĀǦÄŶ¨ĮġŤĮđĀ¸†ŹÄ¸ŶÜġ†ġ¨Ā†đŶŤŹ†ŹÄĜÄġŹŤŋŶ ĀÛÛÄŝÄġ¨ÄŤŶĀġŶŹûÄŶ¨†ŝŝǭĀġéŶ†ĜĮƋġŹŤŶĮÛŶÜġ†ġ¨Ā†đŶ
       instruments resulting from the adoption of IFRS 9 are recognised in our opening November 1, 2017 retained earnings and
       accumulated other comprehensive income (“AOCI”) as if we had always followed the new requirements.
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