{"id":4115,"date":"2018-04-13T08:37:09","date_gmt":"2018-04-13T12:37:09","guid":{"rendered":"http:\/\/www.ipoboutique.com\/blog\/?p=4115"},"modified":"2018-04-13T10:30:08","modified_gmt":"2018-04-13T14:30:08","slug":"firstcaribbean-international-bank-limited-ipo-preview-fci","status":"publish","type":"post","link":"https:\/\/www.ipoboutique.com\/blog\/firstcaribbean-international-bank-limited-ipo-preview-fci\/","title":{"rendered":"FirstCaribbean International Bank Limited #IPO Preview ($FCI)"},"content":{"rendered":"

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Company: FirstCaribbean International Bank Limited<\/strong>
\nSymbol: FCI
\nDescription: They are a leading financial institution operating throughout the English and Dutch-speaking Caribbean with a strong balance sheet and regionally-leading digital banking capabilities.
\nTrade Date: 4\/20
\nShares: 9.6 million
\nPrice Range: $22.00-$25.00
\nUnderwriter(s): Barclays, UBS Investment Bank, CIBC Capital Markets
\nTerms Added: 4-10-18<\/p>\n

Link to S-1\/A Prospectus<\/a><\/strong><\/p>\n

Link to Retail Roadshow<\/a><\/strong><\/p>\n

Business<\/strong>: Their team, extensive branch network, ongoing investments in technology and unwavering client focus are competitive differentiators that enable\u00a0them\u00a0to maintain our leadership in the Caribbean banking sector, address the needs of our clients, and meet their strategic and financial objectives.<\/p>\n

They\u00a0are a leader in\u00a0three primary markets of Barbados, the Bahamas and the Cayman Islands based on total deposits and total loans as of January\u00a031, 2018. Our total assets in our primary markets represented approximately two-thirds of our total assets at the end of the first quarter of 2018. In addition to their primary markets, they\u00a0operate in our key growth markets of Jamaica, Trinidad and Tobago and certain countries in the Dutch Caribbean, primarily Cura\u00e7ao and Aruba. In total, they have a presence in 17 countries and territories. Through their three core business segments: (i)\u00a0Retail and Business Banking (“RBB”), (ii)\u00a0Corporate and Investment Banking (“CIB”), and (iii)\u00a0Wealth Management (“WM”), they\u00a0\u00a0provide individual and business clients with a full range of products and services, including deposits, loans, credit cards, foreign exchange, online and mobile banking, fund administration and trust services. In\u00a0their\u00a0markets, business segments and products and services, we are focused on providing their clients with modern digital banking services and supporting our back office processes with current and efficient technology platforms. To this end, they have invested over $100\u00a0million in technology over the past five years, enhancing the scalability of our platform and positioning them for growth in all of their markets.<\/p>\n

 <\/p>\n

Financials:\u00a0<\/strong>Their total interest income was $415.9 million, $413.4 million, and $424.9 million and their non-interest income was $176.5 million, $177.9 million and $157.3 million in 2015, 2016, and 2017, respectively. Their net income was $113.1 million, $160.2 million and $127.6 million in 2015, 2016, and 2017, respectively. In the last quarter of 2016 and 2017, their interest income was $102.9 million and $111.1 million, their non-interest income was $40.5 million and $9.8 million and their net income was $32.4 million and $4.2 million, respectively. The decrease in net income was largely a function of the impact of $32.6\u00a0million of accumulated foreign exchange loss transferred from OCI in shareholders’ equity as a result of the sale in their foreign currency securities portfolio during the first quarter of 2018. The decrease in net income in 2017 also reflects $9.8 million in costs related to the effect of two hurricanes and income statement impact of $17.6\u00a0million of foreign exchange gains and losses relating to their securities portfolio.<\/p>\n

\"Financials.FCI\"<\/a><\/p>\n

Dividends:<\/strong> \u00a0Following this offering, they intend to pay quarterly cash dividends on common shares at an initial amount of approximately $1.50 per share on an annualized basis, for an approximately 6.4% annual return, based on the midpoint of the offering range.<\/p>\n

Book-Building Status<\/strong>: The way the book comes together during the week of the roadshow is the most critical indicator to first-day and first-week performance. IPO Boutique uses its 45 years of experience and sources all over the street to gather daily subscription levels, specific price guidance and what type of investors are currently in the book or are anchoring orders in the book. In addition, recent underwriter performance on sector specific deals is a strong factor that IPO Boutique takes into account when determining if our clients should indicate for any offering.<\/p>\n

IPO Boutique subscription clients receive daily updates on this critical information.<\/span><\/a><\/p>\n

Conclusion<\/strong>: IPO Boutique provides ratings, daily commentary and a forecast for how this IPO will open vs. its offering price. We have kept a\u00a0track record<\/span><\/a>\u00a0with our performance for last 12 years at our website. Additionally, here’s a 2017 recap of our performance<\/a>\u00a0to showcase the value of IPO Boutique’s service.<\/p>\n

Indicate with confidence,\u00a0<\/b>SUBSCRIBE<\/b><\/a>\u00a0today.<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"

Company: FirstCaribbean International Bank Limited Symbol: FCI Description: They are a leading financial institution operating throughout the English and Dutch-speaking Caribbean with a strong balance sheet and regionally-leading digital banking capabilities. Trade Date: 4\/20 Shares: 9.6 million Price Range: $22.00-$25.00 Underwriter(s): Barclays, UBS Investment Bank, CIBC Capital Markets Terms Added: 4-10-18 Link to S-1\/A Prospectus[…]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"zakra_general_container_width":0,"zakra_general_content_width":0,"zakra_general_sidebar_width":0,"zakra_sticky_header":"customizer","zakra_header_main_area":true,"zakra_site_logo_width":0,"zakra_header_top_enabled":"customizer","zakra_header_top_style":"customizer","zakra_primary_menu_item_style":"customizer","zakra_page_header_text_color":"","zakra_page_header_layout":"customizer","zakra_page_title_bg":"","zakra_footer_widgets_bg_image":0,"zakra_page_title_bg_repeat":"customizer","zakra_page_title_bg_position":"customizer","zakra_page_title_bg_size":"customizer","zakra_page_title_bg_attachment":"customizer","zakra_breadcrumbs_enabled":"customizer","zakra_breadcrumbs_text_color":"","zakra_breadcrumbs_separator_color":"","zakra_breadcrumbs_link_color":"","zakra_breadcrumbs_link_hover_color":"","zakra_page_title_bg_image":0,"zakra_footer_widgets_enabled":"customizer","zakra_footer_column_layout_1_style":"customizer","zakra_footer_widgets_bg":"","zakra_footer_widgets_bg_repeat":"customizer","zakra_footer_widgets_bg_position":"customizer","zakra_footer_widgets_bg_size":"customizer","zakra_footer_widgets_bg_attachment":"customizer","zakra_footer_bar_enabled":"customizer","zakra_footer_bar_style":"customizer","footnotes":""},"categories":[24],"tags":[1491],"class_list":["post-4115","post","type-post","status-publish","format-standard","hentry","category-ipo","tag-fci"],"_links":{"self":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts\/4115","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/comments?post=4115"}],"version-history":[{"count":2,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts\/4115\/revisions"}],"predecessor-version":[{"id":4154,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts\/4115\/revisions\/4154"}],"wp:attachment":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/media?parent=4115"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/categories?post=4115"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/tags?post=4115"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}