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Strong fiscal year for Pan Caribbean
05/30/10
Strong fiscal year for Pan Caribbean
Ordinary dividends of $0.61 per share was declared during the first quarter and paid in April 8, 2010. The consolidated balance sheet grew $5.3 Billion to $70.5 Billion, up 8% and positively influencing Net Interest Income. Fixed Income trading, Asset Management and Stock-broking activities benefited from falling interest rates which had a positive impact on asset prices.
According to Donovan H. Perkins, President & CEO of PanCaribbean, "This positive impact has created opportunities for our customers, validating our consistent advice to customers over the last six months."
Despite sluggish economic conditions, our Credit portfolio continues to perform relatively well, and our non-performing loan ratio at 2.8% of the portfolio (industry average 4.7%) reflects its underlying quality. Underpinning PanCaribbean's business is a solid Capital base of $8.95 Billion, crossing the equivalent US$100 Million threshold for the first time, and with a conservative Capital to Assets ratio of 12.7%.
During the quarter, its principal Corporate Social Responsibility project, the 12th annual Sigma Corporate Run, attracted record support with over 11,000 participants. It has become the largest road race in the Caribbean and shows just how Jamaicans can get together to support great causes. This year, in partnership with the National Health Fund, Reggae Marathon and the newly formed Sagicor PanCaribbean Foundation, the Sigma Corporate Run raised more than $11 Million for the Sir John Golding Rehabilitation Centre, the Jamaica Society for the Blind and the Jamaica Association for the Deaf. The Sagicor PanCaribbean Foundation is established with the aim of improving the lives of children in the areas of sports, health and education. In commenting on the company activities and results, Mr. Perkins indicated "Our Directors are reasonably happy with the results and growth experienced in the quarter. Our entire Team, especially Operations, deserves the credit for the effort in working through the JDX exercise, keeping our customers informed while continuing to grow the business and deliver excellent results."
The CEO went on to say that "I am also positive on our outlook for the year given the stability that we worked hard for, and are now experiencing. What Jamaica needs now is a little good luck, and continued decisiveness by our leaders. JDX shows that many things are possible if we have the will, and are willing to communicate."
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Reasons why I love my Jamaican Mom
1. My Mother taught me about ANTICIPATION.
"Just wait till we get home."
2. My Mother taught me about RECEIVING.
"You going get a ass'n when we get home!"
3. My Mother taught me to MEET A CHALLENGE.
"What di backside yu thinkin'? Answer me when me talk to you...Don't talk back to me!"
4. My Mother taught me CONSEQUENCES.
"If yu run cross de road an' cyar lick yu dung, a goin' kill yu wid lick."
5. My Mother taught me THE VALUE OF EDUCATION.
"If yu no go a school, yu a go tun tief or walk an' pick up bottle."
6. My Mother taught me MEDICAL SCIENCE.
"If yu tun over yu eye lid an fly pitch pan it, it a go stay so fi evva."
7. My Mother taught me to THINK AHEAD.
"Is not one time monkey goin' wan' wife"
8. My Mother taught me ESP.
"Yu tink a don't know what yu up to nuh?"
9. My Mother taught me HUMOR.
"If yu don' eat food, breeze goin' blow yu 'way."
10. My Mother taught me how to BECOME AN ADULT.
"Come an' tek yu beatin' like man."
11. My Mother taught me about SEX.
"Yu tink say yu drop from sky?"
12. My Mother taught me about GENETICS.
"Yu jus' like yu faada."
13. My Mother taught me about my ROOTS.
"Yu tink mi come from "Back A Wall?"
14. My Mother taught me about WISDOM OF AGE.
"When yu get to be as ol' as me, yu wi understan'."
15. And my all time favorite... JUSTICE.
"One day wen yu have pickney, a hope dem treat yu same way."
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