Caribbean Commercial Bank (Anguilla) Limited

Audit Committee Chairman: Mr. Wendell Proctor
1 St Mary’s Street, P O Box 23,
The Valley, ANGUILLA
Caribbean Commercial Bank (Anguilla) Ltd. is a private corporation which is entirely locally owned. It was incorporated in Anguilla in November 1976 and began operations in July 1977.  The bank’s goals were to meet the financial needs of the community that were not, in the opinion of the founders, being adequately addressed by the two international competitors. It operates from a single branch, with (2) ATMs, staffed by (51) employees, and aims to be “The best and most successful  company  in  the  financial  services  industry  providing high quality financial services, well trained, motivated and rewarded staff, and meaningful  participation  in  the  social  and economic development of the community  it serves”. The Bank’s asset base as at October 2005 was US$188.5 million.

Antigua Commercial Bank

Audit Committee Chairman: Mr Craig J Walter
Thames & St. Mary’s Streets, PO Box 95
St. John’s, ANTIGUA
Antigua Commercial Bank (ACB) was incorporated in 1955 with a share capital of EC$100,000. It is the country’s first indigenous bank and public company. ACB is well known for its role in assisting local entrepreneurs and small business owners. Its subsidiary, ACB Mortgage and Trust Company Ltd., is the largest indigenous provider of mortgage finance on the island. ACB aims “to be the leading financial services provider by exceeding its stakeholders’ expectations through exemplary service, innovative products and adapting to an ever-changing environment”. The Bank operates (2) branches and (2) agencies and has (8) Automated Teller Machines, the largest network of ATM’s on the island. ACB has a staff complement of (108), and is one of the largest indigenous commercial banks in Antigua & Barbuda, with an audited asset base of US$290 million as at September 30, 2007.

Caribbean Union Bank Limited

Audit Committee Chairman: Mr Clement Bird
PO Box W2010, Global Financial Centre
Friars Hill Road, St. John’s, ANTIGUA
Caribbean Union Bank Limited (CUB) was incorporated in Antigua on 24th August 2004 under the Companies Act of Antigua and Barbuda No. 18 of 1995 and was granted a Domestic Banking license on September 1st 2005. The Banks currently operates from (1) branch at its Friars Hill address where it also has (2) ATM’s on site, a (3rd) ATM is on order for another branch in Jolly Harbour scheduled to be opened within the first half of 2007. CUB currently employs (13) persons including the management team of (3). The Bank has (1) operational branch at the above listed. CUB aim is “To embrace the vision of a unified Caribbean economy and strive for excellence in financial services to support regional development and create Caribbean wealth. We will be renowned for our passionate pursuit of service levels that consistently exceed our customers’ expectations through a combination of our indigenous skills and the innovative use of modern technology.

Global Bank of Commerce Limited

Audit Committee Chairman: Mr. Kenneth Fisher
Global Financial Centre
P O Box W1831
Friar’s Hill Road, St John’s, ANTIGUA
Global Bank of Commerce Ltd is a locally owned and operated institution that has provided international financial services from Antigua since April 1983. It hosts strong technology driven services, including internet banking, US Dollar Demand Deposit Accounts, Electronic Commerce facilities and Prepaid Card services. The Bank embraces the vision that it can provide globally competitive financial services products, regardless of its size and geographic location. It has a corporate headquarters at its Global Financial Centre of Friar’s Hill Road and a branch office at Global Commerce centre on Old Parham Road, staffed by 36 employees, and had a total asset base of US$74.4 million, shareholder equity of US$8.1 million, and a return on equity of 21% as at December 2005.

Dominica Electricity Services Limited

Audit Committee Chairman: Mr Nigel Wardle
18 Castle Street, PO Box 1593
From 1949 to April 1975 electricity was generated in Dominica under a direct project of the British development agency, Colonial Development Corporation, which introduced the first hydro-electric scheme in the Roseau Valley. On April 30th 1975, a limited liability company was formed to deal with the business of electricity generation on the island and DOMLEC was born. The same British development agency now re-named Commonwealth Development Corporation (CDC) owned 51% of the shareholding of the new company and the Government of Dominica owned 49%. In 1976, an Electricity Supply Act was legislated which granted to the company the responsibility for generation, transmission and distribution of electricity on the island. On December 1st 1983, CDC transferred all of its shareholding to the government and in 1987 through a public offering over 1300 nationals became shareholders in the company. The government retained majority shareholding. The company was eventually re-privatised in March 1997 when CDC bought the government’s stake in the company under a share purchase agreement that saw CDC acquiring 71.9 % of the company’s shareholding. A new Electricity Supply Act was enacted which continued the existing licence of the company for a further 25 years.

National Bank of Dominica Limited

Audit Committee Chairman: Mr Matthew Brade
64 Hillsborough Street, PO Box 271
National Bank of Dominica (NBD) has its origins from March 1978 when it started its operations as National Commercial & Development Bank. From those embryonic days, it grew to become the largest Commercial Bank on the island, but subsequently ceded its developmental role to the AID Bank. In December 2003, the Bank privatised it holdings and became National Bank of Dominica. Throughout the intervening period, the Bank became a household name in Dominica and to the Dominica Diaspora. It earned a reputation of being innovative, product savvy, able to promptly respond to the needs of the indigenous communities which it served while, at the same time, embracing cutting edge technology in delivering these goods and services. The Bank offers a wide portfolio of loan and deposit instruments to its customers and was among the first in the region to offer an International Debit Card on a Visa platform. As the financial leader in the Dominican market, it provides Telephone Banking and has on island the largest network of ATM’s (7). It has excellent International Corresponding Banking relationships in all major financial centres of the world through a number of well known International Banks.

Grenada Co-operative Bank Limited

Audit Committee Chairman: Mr Derrick Steele
PO Box 135, 8 Church Street
St. George’s, GRENADA
Grenada Co-operative Bank Ltd., often referred to as “Co-op Bank”, was established in 1932 out of a dire need for a bank that could provide service to the working class and the small business owners.  Seizing the opportunity, the Bank began operations from a single branch in St. George’s.  Today, the bank has a staff of (100) persons offering the full range of commercial services at (4) branches and (5) ATMs. The Grenada Co-operative Bank Ltd aims “To be the leading Grenadian provider of high quality financial and related services to individuals and organizations in the local and international markets maximizing benefits for all stakeholders”. The bank recognizes that when it comes to finances, a caring and understanding relationship is everything. As at September 2006 the asset base was US$359 million.

Grenada Electricity Services Limited

Audit Committee Chairman: Mr Robert Curtis
PO Box 38, Halifax Street
St. George’s. GRENADA
Grenada Electricity Services Ltd (GRENLEC) is the sole integrated generation, transmission and distribution utility company which provides electricity service to the Tri-Island state of Grenada, Carriacou and Petit Martinique.
WRB Enterprises of Tampa, Florida owns 50% of the issued ordinary share capital of the Company. The Government of Grenada and the National Insurance Scheme owns 21%, employees 4.5% and the remaining 24.5% is owned by approximately 1,600 local and regional investors.
The Company’s mission is to deliver excellent energy services in Grenada, Carriacou and Petit Martinique at the least cost while maintaining the highest standards and values. Its vision is to become a World Class Energy Service Provider and to be the corporate Leader in the Tri-Island State, exceeding the expectations of all stakeholders.

Bank of Montserrat Limited

Audit Committee Chairperson: Mrs Theresa Silcott
PO Box 10, Brades, MONTSERRAT
The Bank of Montserrat Limited was incorporated in 1988. Today, the bank is the leading commercial Bank in controlling 88% of the commercial banking market in Montserrat. The bank has (1) ATM and a staff compliment of (27). The audited assets of the bank totalled US$67.7.million as at September 2008.

Eastern Caribbean Securities Exchange Ltd

Audit Committee Chairperson: Mrs Sephlin Lawrence
PO Box 94, Basseterre, ST. KITTS & NEVIS
Eastern Caribbean Securities Exchange Ltd (ECSE) was incorporated in St Kitts under the St Kitts Companies Act and began operations on 19th October 2001. Along with its two wholly­ owned subsidiaries Eastern Caribbean Central Securities Registry (ECCSR) and the Eastern Caribbean Central Securities Depository (ECCSD), the ECSE operates a regional securities market that facilitates the buying and selling of a range financial products, including corporate stocks and bonds and Government securities.

The Bank of Nevis Limited

Audit Committee Chairperson: Ms Sonya Parry
PO Box 450, Main Street
Charlestown, NEVIS
The Bank of Nevis Ltd is a public corporation listed on the Eastern Caribbean Securities Exchange (ECSE). It was incorporated in Nevis in August 1985 and opened its doors for business on December 9 that same year. The Bank has set itself the goal of “Improving the Quality of Life” of the people of Nevis in particular, and the people of the Federation of St Kitts and Nevis in general. The Bank has (51) staff, and also operates (1) offshore bank, Bank of Nevis International.

St. Christopher & Nevis Social Security Board

Audit Committee Chairperson: Ms Eslyn Swanston
PO Box 79, Robert L Bradshaw Building
Bay Road, Basseterre, ST. KITTS
The St. Christopher and Nevis Social Security Board is a statutory body created by the Social Security Act No. 13 of 1977, as a body corporate enjoying perpetual succession and having a common seal. It has a legal mandate to operate a Social Security Fund in the Federation of St.Kitts & Nevis as well as full legal personality to exercise all relevant rights and obligations under the laws of St. Kitts and Nevis; including the capacity to sue and to be sued in its own name.

St. Kitts-Nevis-Anguilla National Bank Ltd

Audit Committee Chairman: Mr Halva Maurice Hendrickson
PO Box 343, Central Street,
Basseterre, ST. KITTS
St. Kitts-Nevis-Anguilla National Bank Ltd was incorporated as a public limited company in February 1971 after acquiring the assets of St. Kitts Industrial Bank Ltd. In February 1972, this commercial bank established National Trust Company (St. Kitts-Nevis-Anguilla) Ltd. and in 1973, National Caribbean Insurance Company Ltd. became a wholly-owned subsidiary of the Trust Company. To meet the needs of the market, the bank in 2001 established St Kitts and Nevis Mortgage and Investment Company Limited.  The Bank, Trust Insurance and Mortgage Companies comprise the National Bank Group of Companies. The Bank operates from (5) branches and (1) sub-office and has (16) ATMs. Its (168) employees pursue the group’s mission “To be the efficient, profitable and growth-oriented financial group, promoting social and economic development in the national and regional community by providing high quality financial services and products at competitive prices.” The Bank had an asset base of US$825 million as at June 2008.

St. Kitts Nevis Anguilla Trading & Development Company Limited

PO Box 142
Basseterre, ST. KITTS
TDC, the St. Kitts Nevis Anguilla Trading & Development Company Limited (TDC) is a vibrant, innovative, and diverse Public Company that opened its doors for business on 1st February 1973. In the ensuing years, it has grown significantly and now operates strategic business units in the fields of Trading, Finance, Tourism, Development, and Manufacturing.  The Parent Company TDC Ltd., has its Registered Head Offices at Fort Street in Basseterre, St Kitts. Currently, the Group’s corporate structure includes approximately 1300 shareholders, a Board of Directors, which is made up of six (6) Executive Directors and six (6) Non-Executive Directors, Parent Company departments, and Subsidiary and Associated Companies.  In June 2003, the TDC Group officially listed on the Eastern Caribbean Securities Exchange (ECSE), which has helped to create the platform for the Organization to fulfil its Vision Statement; to be the leading Public Company in the OECS. Since its establishment, the Company has had as its motto: “TDC FOR SERVICE, TDC FOR QUALITY, TDC YOUR COMPANY”

1st National Bank St Lucia Limited

Audit Committee Chairman: Mr Cyril Matthew
PO Box 168, 21 Bridge Street
1st National Bank St. Lucia Limited is proud to be the first indigenous Bank in Saint Lucia having been incorporated in 1937 and commenced operations in 1938.  The institution has grown from a small savings and loans organisation with share capital of EC $50,000.00 to a full service commercial bank with authorized share capital of EC $5 million. 1st National Bank St. Lucia Limited’s objective is to continue to provide the highest quality financial service, in order to satisfy the needs of its customers and the interests of shareholders, employees and the Saint Lucian public.  The Bank is committed to contributing towards the improvement of economic and social standards in Saint Lucia, and its growth has accelerated over the past six years from (4) to (6) business units by end of 2006, with a commensurate increase in staff complement to (84).  Located at strategic points around the island are (6) ATM’s.  The Bank had an asset base of US$96 million as at December 2005.

East Caribbean Financial Holding Company Limited

Audit Committee Chairman: Mr Victor Eudoxie
Financial Centre Building, PO Box 1860
Bridge Street, Castries, SAINT LUCIA
East Caribbean Financial Holding Company Limited (ECFH) was formed pursuant to an Agreement for Amalgamation dated March 31, 2001, between National Commercial Bank of Saint Lucia Limited (NCB) and Saint Lucia Development Bank (SLDB). Under the terms of the Agreement the companies agreed to amalgamate from July 1, 2001 to continue as one company. The subsidiaries of ECFH comprise Bank of Saint Lucia Limited, Mortgage Finance Company of Saint Lucia Limited, Bank of Saint Lucia International Limited, Property Holding and Development Company Limited with 100% ownership, and E C Global Insurance Company Limited with 70% ownership. The principal activity of the ECFH Group is the provision of financial services including retail banking, investment banking, corporate banking, development banking, offshore banking, and general insurance. The Group offers a wide range of financial products with a focus on innovative and efficient customer service. In addition to compliance with the Companies Act of Saint Lucia, the East Caribbean Financial Holding Company Limited Group is subject to the provision of the Banking Act, 1991, Insurance Act, 1995 and International Business Companies Act, 1999. The registered office and principal place of business of the Company is located at No.1 Bridge Street, Castries, Saint Lucia. The Company is listed on the Eastern Caribbean Securities Exchange.

St. Lucia Electricity Services Limited

Audit Committee Chairman: Mr Isaac Anthony
PO Box 230, Sans Souci
St. Lucia Electricity Services Ltd (LUCELEC) was incorporated under the laws of Saint Lucia on 9th November 1964 and re-registered as a public company on 11th August 1994. The Company was also re-registered under the Companies Act of Saint Lucia on 22nd October 1997. LUCELEC operates under the Electricity Supply Act, 1994 (as amended), and has an exclusive license for the exercise and performance of functions relating to the supply of electricity in Saint Lucia. The Company is listed on the Eastern Caribbean Securities Exchange. LUCELEC registered office is situated at Sans Souci, John Compton Highway, Castries, Saint Lucia.

National Insurance Corporation

Audit Committee Chairman: Mr Geoffrey Devaux
1st Floor, Francis Compton Building
Waterfront, Castries, SAINT LUCIA
The National Insurance Corporation was created by statute and operates as a statutory Corporation. It is administered by a Board of Directors and currently, falls under the portfolio of the Minister of Finance. The Corporation’s mission is “To ensure that every Saint Lucian enjoys social and financial protection and to assist in the development of our nation through the efficient collection of contributions, payment of relevant benefits, prudent management of assets, use of cutting edge technology, and a cadre of highly skilled staff”. Its vision is “To be an effective, transparent and financially sound institution which is customer focused, provides social protection to the St. Lucian population and plays a leading role in national development. Social Security came to Saint Lucia in 1970 in the form of the National Provident Fund. The Provident Fund was a form of compulsory savings, where both employer and employee made contributions on behalf of the employee. The Provident Fund was repealed and replaced by a National Insurance Scheme in April 1979. The National Insurance Act No. 10 of 1978 converted the NPF into the NIC. The Act became effective in April 1979. The Act together with the Regulations (No. 10 of 1984) guides the operations of the NIC in Saint Lucia.

Bank of St. Vincent and the Grenadines Ltd

Audit Committee Chairman: Mrs. Evelyn Jackson
Bedford Street, P O Box 876
Kingstown, ST VINCENT
National Commercial Bank (SVG) Ltd which was established in 1977 and has a staff complement of (176) operates from its main branch and (5) sub branches.  The mission statement of this wholly Government owned bank is “to build a financial institution that meets the highest standard of Customer Service, Integrity and Financial Strength, while maximizing shareholders value. We shall achieve our aim by focusing on providing quality service to our customers, rewarding careers for our staff and building deeply rooted alliances in the communities we serve.” The Bank has a total of (9) ATMs and its asset base as at June 2005 was US$205.33 million.

De Surinaamsche Bank N.V

Audit Committee Chairman: Mr Drs Michel Brahim RA
Henck Arronstraat 26-30, PO Box 1806
Paramaribo, SURINAME
De Surinaamsche Bank N.V.  was  founded  in  1865  by the Nederlandsche Handel-Maatschappij  which  later  merged  with  the Twentse Bank to become Algemene  Bank  Nederland. In 1976 the Government of Suriname bought 10% of the shares  while  41%  was taken up by private investors and 49% remained with  Algemene  Bank Nederland; ABN later merged with AMRO Bank to form ABN AMRO  Bank N.V. De Surinaamsche Bank functioned as the circulation bank for the Government of Suriname until 1957. In July 2001 ABN AMRO Bank N.V. sold its 49% participation in De Surinaamsche Bank to ASSURIA N.V, an insurance company in Suriname. The Bank operates from its head office and (6) branches. The Bank has a total of (32) ATMs, and is staffed by (350) employees.

Hakrinbank N.V.

Audit Committee Chairman: Mr Henck B. Abrahams
11-13 Dr Sophie Redmondstreet, PO Box 1813
Paramaribo, SURINAME
Hakrinbank N.V. is a commercial bank established in Suriname in 1936 and had as its predecessor Vervuurt’s Bank L.L.C. In 1973 the Bank was reorganized and its name was changed to Handels-Krediet-en Industriebank, fondly called Hakrinbank. The Mission statement of this institution is “As an innovative and dynamic institution, the Hakrinbank offers its customers an integrated package of high-quality financial services. Skilled staff members work as a team to deliver customized services in order to obtain maximum customer-satisfaction”. During the second half of the eighties, two foreign banks viz. Bank of America and Rabobank (Holland) divested their shares that were taken up by the state (51%) and private investors (49%). The Bank has as its subsidiary De Nationale Trust & Financierings Maatschappij N V. Current staffing amounts to (249) which is the total for the head office and (6) branches. The Bank has total of (19) ATMs and its assets totalled approximately US$ 174.7 million as at December 2005.

First Citizens Bank Ltd

Audit Committee Chairman: Mr Inskip Pollonais
3rd Floor, 9 Queen’s Park East
Port of Spain, TRINIDAD & TOBAGO
First Citizens Bank was established in 1993 and over the course of (13) years, has evolved into one of the region’s leading and most dynamic providers of financial products and services.   The Bank’s mission is “To build a highly profitable financial services franchise renowned for innovativeness, service excellence and sound corporate governance.   We shall achieve our aim by focusing on continuous improvement of systems and products, building a strong base of knowledge workers and creating strategic partnerships in key sectors that add value to our customer”. The Bank has become the fastest growing Bank in Trinidad and Tobago and is looking beyond North America to markets in Europe and Asia.  The Bank operates from its (22) branches and is staffed by (1193) employees. The Bank offers a full range of retail and commercial banking services, in addition to merchant and trustee services. An Indigenous Bank, First Citizens has the highest rating, (BBB/A-2) from Standard and Poor’s for an Indigenous Bank in the English-speaking Caribbean and (Baa1/Prime-2) from Moody’s Investors Service, Inc.

First Citizens Asset Management Limited

Audit Committee Chairman: Mr Inskip Pollonais
50 St Vincent Street
Port of Spain, TRINIDAD & TOBAGO
The company is incorporated in Trinidad & Tobago and was continued in accordance with Section 340 (1) of the Companies Act, 1995. It is a wholly owned subsidiary of First Citizens Bank Limited. Subsequent On October 9, 2006, in keeping with best practice for corporate governance, the Company changed its name to First Citizens Asset Management Limited and transferred its Trustee Services business to its fellow subsidiary First Citizens Trustee Services Limited. The company offers the full range of investment management services for pension and savings plans, collective investment schemes and other funds for corporate and individual parties. The company’s vision is “To be the premier Wealth and Asset Management Company in Trinidad and Tobago with a strong regional presence”,  and  its mission is “To create value for customers by providing investment advice, products and services that will give optimum return, steady growth at minimal risk”.

Trinidad & Tobago Unit Trust Corporation

Audit Committee Chairman: Mr Herbert Goon Lun
82 Independence Square, Port of Spain
Trinidad & Tobago Unit Trust Corporation (UTC) was established in 1981 by an Act of Parliament (Act No. 26 of 1981). UTC is the leading mutual fund company in the Caribbean, providing a full range of Investment Services for a diversified client base which includes individuals, institutions and governments.  UTC offers corporate and personal financial planning solutions, investments and savings in mutual funds, pension asset management and retirement plans, children’s investment plans and international debit cards.

To be the recognized body in the Caribbean involved in developing the audit committee function.