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FIRSTCARIBBEAN WINS ANOTHER GLOBAL FINANCE AWARD |
“BEST BANK”
AWARD FOR REGIONAL BANK FOR THE 4TH YEAR RUNNING
Bridgetown, Barbados, June 5th, 2007. A double honour
for FirstCaribbean International Bank! Once again the bank
has been recognized as one of the Best Emerging Banks in
Latin America by Global Finance Magazine. For the fourth
year running, FirstCaribbean has received the title of Best
Bank in Barbados, and for the first time it has copped the
award in Jamaica.
Global Finance’s 14th annual survey of top banking
performers in emerging markets, named those banks that are
consistently providing high levels of service in
often-tumultuous markets.
Global Finance’s Gordon Platt says: “A sound banking system
is a key to economic development. As markets open to foreign
competition and international banks make further inroads,
they are sharing their knowledge and introducing new
technology. Meanwhile, many local banks are rising to the
competitive challenge, and improving their products and
services. In selecting this year’s winners, we relied as
always on input from industry analysts, corporate executives
and banking consultants, as well as research by Global
Finance’s editorial team.”
The selection criteria included knowledge of local
conditions and customer needs, growth in assets,
profitability, strategic relationships, experienced staff,
innovative products, competitive pricing, level of
non-performing loans and use of technology.
Chief Executive Officer of FirstCaribbean International
Bank, Charles Pink, in commenting on the recognition of
FirstCaribbean, said: “We’ve set our course and agreed a
strategy that we believe will help us to reach our goal of
setting the standard for regional financial services
companies. Five years into our history, we are reaping the
benefits of our investments for the benefit of customers. We
think that sound risk policies and an emphasis on excellence
in customer service will get us there.” |
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Mr. Pink was
particularly pleased at winning the award in Jamaica. “This
award, on top of the award of Best Bank in Jamaica from
Latin Finance earlier this financial year, is especially
gratifying. Two years ago we were lagging well behind the
competition in Jamaica. But investment in expansion of the
number of branches and ABMs, with more to come, and a strong
and enthusiastic team led by excellent management has led us
to leadership in customer service and overall performance.
FirstCaribbean has emerged as a force to be reckoned with in
the Jamaica market.
In describing its process for selecting its winners, Global
Finance noted “The winners are not always the biggest banks
but, rather, the best banks—those with the qualities that
corporations should look for when choosing a bank. These are
banks with effective risk-management systems and good
corporate governance. They often are also banks that get
involved with improving their local communities through
support for higher education and social programs,
particularly in the poorest countries. Many are involved
with microfinance and lending to small and medium-size
businesses, as well as serving the needs of the growing list
of major corporations in their countries.”
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