FirstCaribbean Market Capitalisation Drops

Friday 04th, March 2011 / 09:23 Published by

FirstCaribbean International Bank (Bahamas) has seen its market capitalisation cut by more than $590 million or one-third during the recession, with its impaired loan portfolio expanding by 17.7 per cent or $57.5 million during its 2010 financial year.

The bank’s annual report for the year to end-October 31, 2010, disclosed that FirstCaribbean’s market capitalisation hit $1.17 billion at that date, a decline of some 33.5 per cent from the pre-recession high of $1.761 billion achieved at year-end 2007.

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