FIRST GLOBAL Bank had an outstanding year in 2002, recording substantial gains over 2001 in key areas of its operations.
Pre-tax profits totalled $122.1 million, an increase of $100 million or 454 per cent over 2001, according to the institution's deputy chairman, Don Wehby. Earnings per share in 2002 was $1.78, compared with $0.41 in 2001.
In a release, the Bank said it increased its total client deposit and managed funds by 123 per cent from $3.3 billion to $7.45 billion, while its loan portfolio grew by 50 per cent to $500 million.
The Bank also made considerable progress in achieving other targets set in 2001, designed to foster its growth and expansion, to increase the efficiency of its operations and to maintain the highest possible level of customer service, the release said.
Last year, the Bank established the first full-service drive through teller in New Kingston, and it is increasingly being used by customers. The Bank also issued First Global Bank ATM cards, initiated US dollar chequing accounts, and instituted a Global Line facility.
Some of the Bank's targets for 2003 include launching the First Global Bank website, establishing online and telephone banking services, as well as satellite branches in selected key locations.
