FirstCaribbean International Bank Ltd http://www.alacrastore.com/company-snapshot/FirstCaribbean_International_Bank_Ltd-2542133 Tuesday, October 14, 2008 1:54:06 AM 2542133 FirstCaribbean International Bank Ltd en AlacraStore RSS Builder 1.0 30 http://www.alacrastore.com/storecontent/bir/1167294bir/1167294normFirstCaribbean International Bank Ltd.BarbadosFinance: Bank60295221109GMFCI9/13/2008 6:38:41 AM1167294Company Profiles & FinancialsGale Company Profileshttp://www.alacrastore.com/storecontent/spcred/670429spcred/670429normThe latest Full Report from S&Pglobalstructuredpubfin9/10/2008 1:09:00 PM400Full Report670429BarbadosDiversified Capital MarketsCanadaEmerging MarketsLatin AmericaGlobal IssuersStructured FinancePublic FinanceFinancial InstitutionsUtilitiesAsset-Backed SecuritiesCollateralized Debt ObligationsAsset-Backed Commercial PaperCommercial MBSResidential MBSFull ReportStrong business position in the Caribbean region Strategically important to parent Adequate financial profile Limited economic diversification in region of operation Strong regional competition is pressuring margins Lower adjusted capitalization ratios and coverage of nonperforming assets (NPAs) than other banks in the Caribbean The counterparty credit and CD ratings on FirstCaribbean International Bank Ltd. (FirstCaribbean) are underpinned by its regional infrastructure, diversification, and strong market share in the Caribbean; the success of its integration process; and its adequate financial profile. The ratings also reflect Standard&Poor's Ratings Services' group methodology, in which we consider FirstCaribbean to be a strategically important subsidiary of Canadian Imperial Bank of Commerce (CIBC; A+/Negative/A-1). These factors are balanced by the challenges faced in expandingBRB40203030 402030 4020 40FirstCaribbean International Bank Limited362886CANEMERGINGLATAMERICACWH@JAFULLIRLCAN13591Z136069C24282C2428PC1780Z40203020 402030 4020 4040101010 401010 4010 4040201020 402010 4020 40Canadian Imperial Bank of CommerceCIBC World Markets Ireland Ltd.CIBC World Markets Securities Ireland Ltd.105765350257355967USAASIACANEMERGINGEUROMIDAFRLATAMERICAPACCM@CN51680Z@CN51680Z@CNGLOBISSSTRUCPUBFINFIUTILABSCDOABCPCMBSRMBSCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/670431spcred/670431normThe latest Summary from S&Pglobalstructuredpubfin9/10/2008 1:09:00 PM175Summary670431BarbadosDiversified Capital MarketsCanadaEmerging MarketsLatin AmericaGlobal IssuersStructured FinancePublic FinanceFinancial InstitutionsUtilitiesAsset-Backed SecuritiesCollateralized Debt ObligationsAsset-Backed Commercial PaperCommercial MBSResidential MBSSummaryThe counterparty credit and CD ratings on FirstCaribbean International Bank Ltd. (FirstCaribbean) are underpinned by its regional infrastructure, diversification, and strong market share in the Caribbean; the success of its integration process; and its adequate financial profile. The ratings also reflect Standard&Poor's Ratings Services' group methodology, in which we consider FirstCaribbean to be a strategically important subsidiary of Canadian Imperial Bank of Commerce (CIBC; A+/Negative/A-1). These factors are balanced by the challenges faced in expanding the business conservatively given the highly competitive operating environment in the Caribbean, the relatively low economic diversity of the economies in which it operates, and country concentration, which somewhat heightens the bank's intrinsic credit risks. FirstCaribbean has a strong regional infrastructure that providesBRB40203030 402030 4020 40FirstCaribbean International Bank Limited362886CANEMERGINGLATAMERICACWH@JASUMMARYCAN13591Z136069C24282C2428PC1780Z40101010 401010 4010 40Canadian Imperial Bank of Commerce105765USAASIALATAMERICACANEMERGINGEUROMIDAFRPACCM@CNGLOBISSSTRUCPUBFINFIUTILABSCDOABCPCMBSRMBSCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/269971spcred/269971normThe latest News from S&Pglobalstructuredpubfin7/10/2008 2:38:00 AM100News269971BarbadosDiversified Capital MarketsCanadaEmerging MarketsLatin AmericaGlobal IssuersStructured FinancePublic FinanceCorporationsFinancial InstitutionsUtilitiesAsset-Backed Commercial PaperAsset-Backed SecuritiesResidential MBSCollateralized Debt ObligationsCommercial MBSNewsNEW YORK (Standard&Poor's) Oct. 14, 2002--Standard&Poor's Ratings Services said today that it assigned its single-'A'-minus long-term and 'A-2' short-term counterparty credit and CD ratings to FirstCaribbean International Bank Ltd. (FirstCaribbean). The outlook is stable. The ratings on FirstCaribbean are underpinned by its regional infrastructure, diversification, and strong market share in the Caribbean; the track record posted by its predecessor institutions; and its solid financial condition. FirstCaribbean's financial flexibility, including its highly liquid balance sheet and good opportunities to access international markets, also supports the ratings. The ratings also consider the operating support received from both U.K.-based Barclays Bank PLC (AA/Stable/A-1+) and Canadian Imperial Bank of Commerce (A+/Stable/A-1), FirstCaribbean's main shareholders. These factors are balanced by theBRB40203030 402030 4020 40FirstCaribbean International Bank Limited362886CANEMERGINGLATAMERICACWH@JANEWSGBRCAN06738C06738RC24282C2428PG0798N06738G06739G13591Z136069G0799YG079A206739FG0799KG079AA06738Q06739HC1780ZG07980G0798FG0798GG0799GG0799M40101010 401010 4010 40Barclays Bank PLCCanadian Imperial Bank of Commerce104471105765EMERGINGLATAMERICASUPUSAASIACANEUROMIDAFRPACBCBEYCM@CNGLOBISSSTRUCPUBFINCORPFIUTILABCPABSRMBSCDOCMBSCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/330419spcred/330419normThe latest News from S&Pstructuredpubfinglobal7/10/2008 2:38:00 AM100News330419BarbadosDiversified Capital MarketsCanadaEmerging MarketsLatin AmericaGlobal IssuersStructured FinancePublic FinanceSovereignsUtilitiesAsset-Backed Commercial PaperAsset-Backed SecuritiesCommercial MBSResidential MBSCollateralized Debt ObligationsCorporationsFinancial InstitutionsNewsNEW YORK (Standard&Poor's) Aug. 27, 2003--Standard&Poor's Ratings Services said today that it affirmed its 'A-/A-2' counterparty credit and CD ratings on FirstCaribbean International Bank Ltd. (FirstCaribbean). The outlook is stable. The ratings on FirstCaribbean are underpinned by its regional infrastructure, business diversification, and strong market share in the Caribbean. The geographic diversification of the bank's operations and its separation into onshore and offshore components mean that the ratings are not directly constrained by Barbados' sovereign ratings. The track record posted by the bank's predecessor institutions and the strong support received from its two parent banks, Barclays Bank PLC (AA/Stable/A-1+) and Canadian Imperial Bank of Commerce (A+/Stable/A-1) are significant positive rating considerations. The ratings are balanced byBRB40203030 402030 4020 40FirstCaribbean International Bank Limited362886CANEMERGINGLATAMERICACWH@JANEWSCANGBRBRB06739F13591ZG07980G0798GG0799GG0799YG079A206738Q06738RG0798NG0799KG0799M06738G06739G06739HG0798F06707006738C136069C1780ZC24282C2428PG079AA40101010 401010 4010 40Barclays Bank PLCCanadian Imperial Bank of CommerceBarbados104471105765340818ASIALATAMERICAEMERGINGPACSUPUSAEUROMIDAFRCANBCBEYCM@CN5824ZGLOBISSSTRUCPUBFINSOVUTILABCPABSCMBSRMBSCDOCORPFICredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/330421spcred/330421normThe latest Research Update from S&Pglobalstructuredpubfin7/10/2008 2:38:00 AM175Research Update330421BarbadosDiversified Capital MarketsCanadaEmerging MarketsLatin AmericaGlobal IssuersStructured FinancePublic FinanceAsset-Backed SecuritiesCommercial MBSResidential MBSCollateralized Debt ObligationsFinancial InstitutionsSovereignsUtilitiesAsset-Backed Commercial PaperCorporationsResearch UpdateStandard&Poor's Ratings Services affirmed its 'A-/A-2' counterparty credit and CD ratings on FirstCaribbean International Bank Ltd. (FirstCaribbean). The outlook is stable. The ratings on FirstCaribbean are underpinned by its regional infrastructure, business diversification, and strong market share in the Caribbean. The geographic diversification of the bank's operations and its separation into onshore and offshore components mean that the ratings are not directly constrained by Barbados' sovereign ratings. The track record posted by the bank's predecessor institutions and the strong support received from its two parent banks, Barclays Bank PLC (AA/Stable/A-1+) and Canadian Imperial Bank of Commerce (A+/Stable/A-1) are significant positive rating considerations. The ratings are balanced by FirstCaribbean's lack of a track record, the operational risk inherent toBRB40203030 402030 4020 40FirstCaribbean International Bank Limited362886CANEMERGINGLATAMERICACWH@JARESUPDCANGBRBRB06707006738Q06739HC2428PG0798NG0799YG079A213591ZC2428206738C06739F136069G07980G0798GG0799G06738G06738R06739GC1780ZG0798FG0799KG0799MG079AA40101010 401010 4010 40Barclays Bank PLCCanadian Imperial Bank of CommerceBarbados104471105765340818USACANLATAMERICAASIAEMERGINGEUROMIDAFRPACSUPBCBEYCM@CN5824ZGLOBISSSTRUCPUBFINABSCMBSRMBSCDOFISOVUTILABCPCORPCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/313461spcred/313461normThe latest Summary from S&Ppubfinstructuredglobal7/10/2008 2:38:00 AM175Summary313461BarbadosDiversified Capital MarketsCanadaEmerging MarketsLatin AmericaGlobal IssuersStructured FinancePublic FinanceCorporationsFinancial InstitutionsCollateralized Debt ObligationsUtilitiesAsset-Backed Commercial PaperAsset-Backed SecuritiesCommercial MBSResidential MBSSummaryThe ratings on FirstCaribbean International Bank Ltd. (FirstCaribbean) are underpinned by its regional infrastructure, diversification, and strong market share in the Caribbean; the track record posted by its predecessor institutions; and its solid financial condition. FirstCaribbean's financial flexibility, including its highly liquid balance sheet and good opportunities to access international markets, also supports the ratings. The ratings also consider the operating support received from both U.K.-based Barclays Bank PLC (rated 'AA/Stable/A-1+') and Canadian Imperial Bank of Commerce (CIBC, rated 'A+/Stable/A-1'), FirstCaribbean's main shareholders. These factors are balanced by the new entity's lack of a track record and the operational risk inherent in the formation of a new entity. Other mitigating factors include the challenge to increase the lending portfolio inBRB40203030 402030 4020 40FirstCaribbean International Bank Limited362886CANEMERGINGLATAMERICACWH@JASUMMARYCANGBR06738Q06739F136069C1780ZC24282C2428PG0798FG0799KG0799MG079AA06738G06739G06739HG07980G0798GG0799G06738R06738C13591ZG0798NG0799YG079A240101010 401010 4010 40Barclays Bank PLCCanadian Imperial Bank of Commerce104471105765ASIACANEMERGINGEUROMIDAFRLATAMERICASUPUSAPACBCBEYCM@CNGLOBISSSTRUCPUBFINCORPFICDOUTILABCPABSCMBSRMBSCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/427249spcred/427249normThe latest Full Report from S&Pglobalstructuredpubfin7/10/2008 2:38:00 AM400Full Report427249BarbadosDiversified Capital MarketsCanadaEmerging MarketsLatin AmericaGlobal IssuersStructured FinancePublic FinanceCorporationsFinancial InstitutionsUtilitiesAsset-Backed Commercial PaperAsset-Backed SecuritiesCommercial MBSResidential MBSCollateralized Debt ObligationsFull ReportStrong business position in the Caribbean region Good financial profile Limited economic diversification in region of operation Strong regional competition is pressuring margins The ratings on FirstCaribbean International Bank Ltd. (FirstCaribbean) are underpinned by its regional infrastructure, diversification, and strong market share in the Caribbean; the success of its integration process; and its good financial condition. The ratings also consider the operating support received from both U.K.-based Barclays Bank PLC (AA/Stable/A-1+) and Canadian Imperial Bank of Commerce (CIBC; A+/Stable/A-1), FirstCaribbean's main shareholders. These factors are balanced by the challenges to expand the business in a conservative manner in a highly competitive operating environment in the Caribbean; the relative lack of economic diversity; and country concentration, which somewhat heightens the bank'sBRB40203030 402030 4020 40FirstCaribbean International Bank Limited362886CANEMERGINGLATAMERICACWH@JAFULLCANIRLGBR06738C06738Q13591ZC24282C2428PG0798FG0799KG0799MG0799YG079A206738G06739F06739G06739H13607E13607J136069C1780ZG07980G0798GG0799G06738R13607FG0798NG079AA40201020 402010 4020 4040101010 401010 4010 4040203010 402030 4020 4040203020 402030 4020 40Canadian Imperial Bank of CommerceCanadian Imperial Holdings Inc.Barclays Bank PLCCIBC World Markets PLCCIBC World Markets Ireland Ltd.CIBC BA Ltd.Imperial Holding Inc.CIBC World Markets Securities Ireland Ltd.105765102866104471303717350257350797350799355967LATAMERICAUSAEUROMIDAFRASIACANEMERGINGPACSUPCM@CN2442ZBCBEY1001Z1451680Z@CN51680Z@CNGLOBISSSTRUCPUBFINCORPFIUTILABCPABSCMBSRMBSCDOCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/427250spcred/427250normThe latest Summary from S&Pglobalstructuredpubfin7/10/2008 2:38:00 AM175Summary427250BarbadosDiversified Capital MarketsCanadaEmerging MarketsLatin AmericaGlobal IssuersStructured FinancePublic FinanceAsset-Backed Commercial PaperAsset-Backed SecuritiesCommercial MBSResidential MBSCollateralized Debt ObligationsUtilitiesCorporationsFinancial InstitutionsSummaryThe ratings on FirstCaribbean International Bank Ltd. (FirstCaribbean) are underpinned by its regional infrastructure, diversification, and strong market share in the Caribbean; the success of its integration process; and its good financial condition. The ratings also consider the operating support received from both U.K.-based Barclays Bank PLC (AA/Stable/A-1+) and Canadian Imperial Bank of Commerce (CIBC; A+/Stable/A-1), FirstCaribbean's main shareholders. These factors are balanced by the challenges to expand the business in a conservative manner in a highly competitive operating environment in the Caribbean; the relative lack of economic diversity; and country concentration, which somewhat heightens the bank's intrinsic credit risks. FirstCaribbean has a strong regional infrastructure that provides a competitive advantage over other Caribbean players. Its asset base of approximatelyBRB40203030 402030 4020 40FirstCaribbean International Bank Limited362886CANEMERGINGLATAMERICACWH@JASUMMARYCANGBR06738G06739FG0798N06738C06739GG079AA06738Q06738R136069C1780ZC2428PG07980G0798GG0799GG0799YG079A206739H13591ZC24282G0798FG0799KG0799M40101010 401010 4010 40Barclays Bank PLCCanadian Imperial Bank of Commerce104471105765LATAMERICAUSAASIAEMERGINGEUROMIDAFRSUPCANPACBCBEYCM@CNGLOBISSSTRUCPUBFINABCPABSCMBSRMBSCDOUTILCORPFICredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/445241spcred/445241normThe latest Summary from S&Pglobalstructuredpubfin7/10/2008 2:38:00 AM175Summary445241BarbadosDiversified Capital MarketsCanadaEmerging MarketsLatin AmericaGlobal IssuersStructured FinancePublic FinanceCommercial MBSResidential MBSCorporationsFinancial InstitutionsUtilitiesCollateralized Debt ObligationsAsset-Backed Commercial PaperAsset-Backed SecuritiesSummaryThe ratings on FirstCaribbean International Bank Ltd. (FirstCaribbean) are underpinned by its regional infrastructure, diversification, and strong market share in the Caribbean; the success of its integration process; and its good financial condition. The ratings also consider the operating support received from both U.K.-based Barclays Bank PLC (AA/Stable/A-1+) and Canadian Imperial Bank of Commerce (A+/Stable/A-1), FirstCaribbean's main shareholders. These factors are balanced by the challenges to expand the business in a conservative manner in a highly competitive operating environment in the Caribbean; the relative lack of economic diversity; and country concentration, which somewhat heightens the bank's intrinsic credit risks. FirstCaribbean has a strong regional infrastructure that provides a competitive advantage over other Caribbean players. Its asset base of approximately $9BRB40203030 402030 4020 40FirstCaribbean International Bank Limited362886CANEMERGINGLATAMERICACWH@JASUMMARYGBRCAN06738C06739GG0798GG0799YG079A206738GG0798NG0799KG0799M06738Q06738R136069C1780ZG07980G0798FG0799G06739F06739H13591ZC24282C2428PG079AA40101010 401010 4010 40Barclays Bank PLCCanadian Imperial Bank of Commerce104471105765EMERGINGEUROMIDAFRCANASIAPACSUPUSALATAMERICABCBEYCM@CNGLOBISSSTRUCPUBFINCMBSRMBSCORPFIUTILCDOABCPABSCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/362360spcred/362360normThe latest Summary from S&Pglobalstructuredpubfin7/10/2008 2:38:00 AM175Summary362360BarbadosDiversified Capital MarketsCanadaEmerging MarketsLatin AmericaGlobal IssuersStructured FinancePublic FinanceCorporationsFinancial InstitutionsUtilitiesAsset-Backed Commercial PaperAsset-Backed SecuritiesCommercial MBSResidential MBSCollateralized Debt ObligationsSummaryThe ratings on FirstCaribbean International Bank Ltd. are underpinned by its regional infrastructure, business diversification, and strong market share in the Caribbean. The geographic diversification of the bank's operations and its separation into onshore and offshore components means that the ratings are not directly constrained by Barbados' sovereign ratings. The track record posted by the bank's predecessor institutions and the strong support received from its two parent banks, Barclays Bank PLC (AA/Stable/A-1+) and Canadian Imperial Bank of Commerce (CIBC; A+/Stable/A-1), are significant positive rating considerations. The ratings are balanced by FirstCaribbean's lack of a track record, the operational risk inherent to the formation of a new entity, and the challenges of operating in a region with relatively small and weakBRB40203030 402030 4020 40FirstCaribbean International Bank Limited362886CANEMERGINGLATAMERICACWH@JASUMMARYGBRCAN06738R136069G07980G0798GG0798NG0799G06738G06739F06739G06739HC2428PG079AAC1780ZC24282G0799KG0799MG0799YG079A206738C06738Q13591ZG0798F40101010 401010 4010 40Barclays Bank PLCCanadian Imperial Bank of Commerce104471105765CANSUPUSAEUROMIDAFRLATAMERICAPACASIAEMERGINGBCBEYCM@CNGLOBISSSTRUCPUBFINCORPFIUTILABCPABSCMBSRMBSCDOCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/374547spcred/374547normThe latest Summary from S&Pglobalstructuredpubfin7/10/2008 2:38:00 AM175Summary374547BarbadosDiversified Capital MarketsCanadaEmerging MarketsLatin AmericaGlobal IssuersStructured FinancePublic FinanceCorporationsFinancial InstitutionsUtilitiesAsset-Backed Commercial PaperAsset-Backed SecuritiesCommercial MBSResidential MBSCollateralized Debt ObligationsSummaryThe ratings on FirstCaribbean International Bank Ltd. are underpinned by its regional infrastructure, business diversification, and strong market share in the Caribbean. The geographic diversification of the bank's operations and its separation into onshore and offshore components mean that the sovereign ratings on Barbados do not directly constrain the ratings on FirstCaribbean. The track record posted by the bank's predecessor institutions and the strong support received from its two parent banks, Barclays Bank PLC (AA/Stable/A-1+) and Canadian Imperial Bank of Commerce (A+/Stable/A-1), are significant positive rating considerations. The ratings are balanced by FirstCaribbean's lack of a track record, the operational risk inherent to the formation of a new entity, and the challenges of operating in a region with relatively smallBRB40203030 402030 4020 40FirstCaribbean International Bank Limited362886CANEMERGINGLATAMERICACWH@JASUMMARYCANGBR06738Q06739H136069C1780ZG0798FG0799KG0799MG079AA06739FC2428206738G06739G13591ZG07980G0798GG0799GG0799Y06738C06738RC2428PG0798NG079A240101010 401010 4010 40Barclays Bank PLCCanadian Imperial Bank of Commerce104471105765ASIAEUROMIDAFRSUPUSACANEMERGINGLATAMERICAPACBCBEYCM@CNGLOBISSSTRUCPUBFINCORPFIUTILABCPABSCMBSRMBSCDOCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/453267spcred/453267normThe latest News from S&Pstructuredpubfinglobal7/10/2008 2:38:00 AM100News453267BarbadosDiversified Capital MarketsCanadaEmerging MarketsLatin AmericaGlobal IssuersStructured FinancePublic FinanceAsset-Backed Commercial PaperAsset-Backed SecuritiesCommercial MBSResidential MBSCollateralized Debt ObligationsCorporationsFinancial InstitutionsUtilitiesNewsMEXICO CITY (Standard&Poor's) July 25, 2005--Standard&Poor's Ratings Services said today that it affirmed its 'A-/A-2' counterparty credit and CD ratings on FirstCaribbean International Bank Ltd. (FirstCaribbean). The outlook is stable. The ratings on FirstCaribbean are underpinned by its regional infrastructure, business diversification, and strong market share in the Caribbean; the success of its integration process; and its financial condition. The ratings also consider the support received from both U.K.-based Barclays Bank PLC (AA/Stable/A-1+) and Canadian Imperial Bank of Commerce (A+/Stable/A-1), FirstCaribbean's main shareholders. These factors are balanced by the challenges to expand the business in a conservative manner in a highly competitive operating environment in the Caribbean; the relative lack of economic diversity; and country concentration,BRB40203030 402030 4020 40FirstCaribbean International Bank Limited362886CANEMERGINGLATAMERICACWH@JANEWSCANGBR06738Q06739H136069G0798N06739F13591ZG0799YG079A206738GG0799KG079AA06738C06738R06739GC1780ZC24282C2428PG07980G0798FG0798GG0799GG0799M40101010 401010 4010 40Barclays Bank PLCCanadian Imperial Bank of Commerce104471105765EUROMIDAFRUSAASIALATAMERICACANEMERGINGPACSUPBCBEYCM@CNGLOBISSSTRUCPUBFINABCPABSCMBSRMBSCDOCORPFIUTILCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/453268spcred/453268normThe latest Research Update from S&Pglobalstructuredpubfin7/10/2008 2:38:00 AM175Research Update453268BarbadosDiversified Capital MarketsCanadaEmerging MarketsLatin AmericaGlobal IssuersStructured FinancePublic FinanceCollateralized Debt ObligationsCorporationsFinancial InstitutionsUtilitiesAsset-Backed Commercial PaperAsset-B