Reprinted from Caribbean Net News
caribbeannetnews.com

FirstCaribbean’s the best, says Euromoney
08-30-2006

BRIDGETOWN, Barbados: A positive performance in 2005 and an “impressive” start this year have earned FirstCaribbean International Bank a benchmark award from Euromoney Magazine, one of the most highly regarded financial publications in the industry.

For the first time in the 37-year history of the magazine, Euromoney conferred their Best Bank Award of Excellence on a Pan-Caribbean bank, ranking Barbadian-based FirstCaribbean International among the most outstanding financial institutions in the Americas. Speaking during the Award presentation, Soledad Contreras, Senior Manager
Euromoney Magazine – UK, said the Bank’s recent asset growth, coupled with its successes in the International business and Capital Markets segments, put them ahead of the competition.

The Euromoney representative noted that despite the aggressive competition in the regional financial sector, the magazine’s analysts were impressed that the Bank had still recorded strong first quarter results, with an increase in earnings of 35%. She added that with an asset base of $9.6 billion and a growth rate of almost 300% year on year, the Bank is “clearly working hard to make its presence felt despite it being a relatively young player in the industry.”

“These benchmark awards highlight high-quality products and services across all areas of commercial and investment banking, regionally and globally,” she noted. “At Euromoney, we believe that finance is the world's most competitive business; so it takes something special to stand out from the crowd. The Award was very well deserved… and we hope that it encourages all FirstCaribbean staff to continue on the path of excellence.”

Alluding to the recent acquisition of ABN Amro’s offshore and wealth management business in Curacao, Contreras explained that this would further bolster FirstCaribbean’s ability to offer a comprehensive range of services that would continue to rival the leading financial institutions across the region.

Meanwhile, after accepting the Award, International Banking Director for Barbados Mark St. Hill said FirstCaribbean was honoured to have received the commendation because it represented international recognition of the incredible work being done by the teams in the various segments of the Bank’s operations.

“We’re constantly looking at new ways to innovate and to give our clients – both regional and international – the services that best meet their needs,” St Hill explained. “Whether it is providing day-to-day banking services to our existing customers or providing financing to international buyers seeking to invest in the Caribbean market, our aim is to offer each customer the best and most efficient service from the beginning of their transaction to its completion.”