Clem Labega Square Philipsburg, St. Maarten, Antilles Tel: (599) 542-2313 • Fax: (599) 542-4761 • www.wib-bank.net bined with a 21.81% growth in Customer Deposits. 2006 2005 Our Customer Deposits now stand at Naf.662,218,000 WIB @ HOME Message from against Naf. 543,639,000 of 2005 with a 12.44% increase Number of users 2,048 1,185 in Demand Deposits and a 34.57% growth of our Savings Number of transactions 4,310 911 Management and Time Deposits. WIBDIRECT GROUP Number of users 171 179 By improving our market share in the Business sector we Number of transactions 15,994 5,254 THE ECONOMY OF OUR ISLAND on the existing roads no have managed to increase our business volumes and trans- WIBDIRECT BUSINESS The island economy has recorded another booming year longer fit to handle the actions increasing our Commissions and Exchange Income Number of users 367 Not in service with lots of construction and new tourism business activity number of cars moving by 11.73% scoring an increase of our Total Income of Number of transactions 1,994 Not in service launched or planned for 2007. from one end to the 16.78% while our Total Expense grew by 14.42%. This high level of economic activity has certainly created a other on an island with tougher business environment along with strong competi- such high density and THE MARKET In 2006 we have successfully implemented the LUC system tion among the local businesses as new ventures are being concentration of build- The Bank met its objectives and exceeded its targets by (Loan Underwriting Center) which is a predictive credit established in the new commercial centers. ings along the main deepening our business relationship with existing and new scoring model increasing the productivity and efficiency Numerous private real estate operations mentioned in 2005 roads. customers while remaining involved in projects from which while adding proper assessment of the credit risk, the are being completed and new ones started in 2006 in the new opportunities were derived to promote our products approval, the processing and management of all commer- cial loans up to Naf 250,000. areas of Simpsonbay, Cupecoy, Dawn Beach, Oysterpond, At the same time the main business areas such as and services. Belair, and Colebay. Philipsburg and Simpsonbay require additional parking Very soon, we hope to introduce similar credit scoring sys- facilities in order to support continuing successful opera- tems for the Retail Banking departments. There has been a significant growth in commercial banking The new Princess Juliana Int. Airport was opened in tions of new and even of the existing businesses. activities, while we took on a more conservative but steady The active tourist business and WIB’s BankCard Services November 2006, the new Captain Hodge small pier, the sec- focus on our retail banking services such as consumer loans, ond phase of the Philipsburg waterfront promenade, the BUSINESS ACTIVITY IN 2006 providing the best merchant service, has recorded an mortgage loans and issuing of credit cards. renovation of the Back street, the round about on the A Quick scan of our Combined Business activity ( WIB and increase of 11.73% in credit card sales volumes processed Sucker Garden road, the creation of new parking zones WIB Int.) amounts X Naf 1000. Credit demand strengthened more than in 2005 and our by our POS system; although this good Dutch side result along the salt ponds, the new Telem Building, the new sales activity was geared towards making use of the new was somewhat affected by a continuing decrease of the cred- Government Administration Building, the buy back of 2006 2005 Change % business developments and opportunities thereby increas- it card sales volumes on the French side due to closure of shares of the harbor company with the approved financing TOTAL ASSETS 793,383 642,279 23.52% ing our position in the market while keeping our loan loss- many hotels and the bad perception of the high Euro value from WIB which in turn will see these funds returned to St TOTAL CUSTOMERS es at a low level. placing Dutch side businesses in an advantageous position. DEPOSITS 662,218 543,639 21.81% Maarten to be invested in Social economic projects; all TOTAL LOANS * 392,944 304,521 29.04% WIB EVENTS: these construction projects contribute to the economic The year 2006 has been another year with fierce competi- CAPITAL FUNDS 53,195 45,987 15.67% In early 2006, WIB conducted a Secret Shopper Survey boom that the island is currently experiencing. tion in a rapidly growing and continued dedication to our with the purpose of gauging the level of service provided. policy of good corporate and social responsibility with a * Loans net of reserves for possible loan losses One of the main elements that came out of this survey is The Westin Resort is now open bringing their new stream of strong involvement in the needs of our changing communi- visitors to our unique two countries island and we’re seeing the need for more alternative banking services and outlets OUR BANKING FACILITIES ty, has surely convinced the readers of the Daily Herald to time share making room for newly built deluxe Condos to relieve the congestion that occurs in the lobbies of the elect The Windward Islands Bank for the 3rd consecutive branches. being offered for sale at increasingly high prices. 2006 2005 year as “Best Bank of the year”. Throughout 2006, WIB improved its buildings and opera- BRANCHES 76 tions to keep up with developments throughout the Our economy remains highly dependent on tourism with a STAFF 210 203 We will be organizing more sales activities with our private Windward Islands such as: stable number of visitors arriving by air while we note a ATM’s 21 14 slight decrease in the arrivals of cruise passengers and cruise customers to promote our electronic banking services • Opening of a WIB representative office on to pro- ships. WIB@Home, WIB Direct and WIB Direct Business which vide service in a more professional manner. The Bank Loans outstanding less specific allowance for loan losses at have shown good increases and are being well accepted by year end 2006 stood at Naf. 392,944,000 being 29.04% opened an office as well as an ATM in The Bottom. 2006 2005 our Business customers in particular for executing local as higher than previous year while Interest Earned on Loans With the increase of transactions and types of operations VISITORS ARRIVING BY AIR 467,804 467,861 well as international transfers. Salary account payments CRUISE PASSENGERS ARRIVALS 1,421,645 1,488,537 was Naf. 32,547,000 being an improvement of 12.32% over this office can be turned into an operational branch in supporting the use of our numerous ATM’s throughout the CRUISE CALLS 609 641 the previous year. the future. island were the principal cause for the high volumes record- • Opening of the new small airport branch with specific Our Net Interest Income showed an increase of 19.09% tak- ed in 2006. This rapid expansion of business activity coupled to an everyday service, including during the holidays to serve ing into consideration a decrease of interest rates due to increase of generated income has stimulated the sale of cars competition on the local credit market and stable high rates our commercial and private customers working in and during the last two years creating some serious stress points of interest served on the International Money markets com- around the new airport. Introduction of new style depos-

THE WINDWARD ISLANDS BANK LTD. • ANNUAL REPORT 2006 • PAGE 1 THE WINDWARD ISLANDS BANK LTD. • ANNUAL REPORT 2006 • PAGE 2 itory services separating cash operations from the checks Youth events, Educational projects, Church activities, deposits, the latter now being handled as speedy deposits Cultural events, etc. Supervisory Board with direct access by the back office staff for further pro- A great number of the Bank’s employees are actively cessing. involved in the community or occupy a prominent function of Directors & Management Team • WIB Car show was again organized with great success to in Non-Profit organizations including Rotary, Rotaract, MANAGEMENT TEAM (L-R) allow clients and the automobile dealers a venue for on Lions, Toastmasters, Reach Out and Touch, Nature J. Bruce Mayers Asst. Managing Director the spot financing for car purchasing. Our commercial Foundation, Journey for Education, Foundation Upkeep Kelvin Bloyden services were also well promoted at the WIB booth of the Sports Facilities, Women’s Awareness Movement, Business Asst. Managing Director first St. Maarten Home Expo held at Maho Reef. & Professional Women Association, Church and School Jan J. Beaujon • The marine industry is an important contributor to the activities etc. Managing Director islands economy. WIB as a Partner in Progress became a Carl Snijder sponsor of the St. Maarten Heineken Regatta, The St. STAFF ACTIVITIES Asst. Managing Director Maarten Classic Regatta, The St. Maarten yearly Mega With a total staff of 210, WIB employees are playing an Yacht Boat Show as well as promoting sailing events of important role, not only in the Bank, but also throughout BOARD OF SUPERVISORY DIRECTORS traditional locally built sailing boats. the community. In Photo A Social Committee has been very active in organizing sev- • More awareness for WIB’s electronic banking services Back Row (L-R) was created with the launching of the new WIB@home eral family events, picnics, beach outings, games and com- Jan Beaujon Shaffie Wihby Internet service for Small Businesses. petitions, all to foster better relations with each other. Ronald Gomes-Casseres Victor P. Henriquez • All our ATM’s are being renovated with a new standard- • The organizing of the Employee Appreciation Day allow- ized design and our service was enhanced with the place- Anthony Da Costa-Gomez ing our staff to show appreciation to their colleagues and ment of new ATM terminals and introduction of new Front Row (L-R) socialize in a different manner than the daily routine was services: Lionel Capriles II a great success ending with a bus-ride to a Fun night at Ms. Brenda Wathey Lionel Capriles - Launching of the island’s first drive-thru ATM at the the Movies. Shell Station in Simpsonbay. • The Bank has initiated a Marketing Team with the pur- - Placing additional ATM terminals at Le Grand Marche pose of organizing promotional activities aimed at bring- Bushroad and at the Main Office on the Pondfill. ing the Bank and its employees closer to the community - New ATM at the renovated Capt. Hodge pier- landing and the businesses. Locations for the cruise passengers and at the popular St Rose • In close cooperation with the Human Resource Arcade Department of MCB our staff has received several cours- MAIN OFFICE SIMPSON BAY OFFICE BUSH ROAD BRANCH - New ATM’s located in the Check-in area and in the es on providing service, dealing with discipline, attitudes Departure Hall of the new Princess Juliana Clem Labega Square Airport Road Le Grand Marché Shopping Mall and on the financial products and services offered by our International Airport. Philipsburg Simpsonbay Cul-De-Sac - The first ATM in the DawnBeach/ OysterPond area, Bank. Tel: 542-2313 Tel: 545-3065 Tel: 542-9548 placed in the Reception lobby of the Oysterbay Beach • One of the major social/community projects executed in Fax: 542-4761 Fax: 543-3002 Fax: 542-9547 Hotel. 2006 was the painting of a home of an elderly paraplegic - The successful launching of our Prepaid Visa Money resident of St.Peters. ST. EUSTATIUS BRANCH COLE BAY BRANCH BANK CARD SERVICES Cards as well as the prepaid Kompa Leon credit card in Mazinga Square Orange Grove Shopping Center UTS Building Naf. available at all our branches. We thank our customers and staff for without their loyalty, St. Eustatius Cole Bay Philipsburg - Launching of GEBE electronic payments systems and services and business, we could not achieve such good Tel: 0318-2846 / 0318-2847 Tel: 544-5490 Tel: 542-3940 installation of POS terminals for payments with results and contribute so much to the well being of our com- Bankomatico or via the internet. Fax: 0318-2850 Fax: 544-5491 Fax: 542-3257 munity. WIB AND THE COMMUNITY SABA REPRESENTATIVE WIB LOAN CENTER AIRPORT BRANCH The Windward Islands Bank continues to play a very Mrs. S. Richardson Le Grand Marché Shopping Mall Princess Juliana International Airport important social role by granting over 355 donations and The Bottom, Saba Cul-De-Sac Simpson Bay Jan J. Beaujon sponsorship to a wide cross section of the community Tel: 0416-5554 Tel: 542-9536 Tel: 546-7761 including Social Foundations, Sports events and activities, Managing Director Fax:542-9258 Fax: 546-7762

THE WINDWARD ISLANDS BANK LTD. • ANNUAL REPORT 2006 • PAGE 3 THE WINDWARD ISLANDS BANK LTD. • ANNUAL REPORT 2006 • PAGE 4 Explanatory notes to the condensed combined balance sheet Condensed Combined Balance Sheet as of December 31, 2006 as of December 31, 2006 and 2005

THE WINDWARD ISLANDS BANK INTERNATIONAL NV AND THE ACCOUNTING POLICIES WINDWARD ISLANDS BANK LTD. 1. GENERAL (amounts in Naf 1,000) The principal accounting policies adopted in the preparation of the condensed combined financial statements of Windward Islands Bank Ltd. and Windward Islands Bank International N.V. are set 2006 2005 % variance out below. These explanatory notes are an extract of the detailed notes included in the financial ASSETS statements of both Banks and are consistent in all material respects with the financial statements Cash and due from banks 380,654 317,448 19.9% from which they have been derived.

Loans 392,944 304,521 29.0% 2. BASIS OF PREPARATION Bank premises, Equipment and Other Assets 19,785 20,310 -2.6% The financial statements, from which the condensed combined balance sheet has been derived, are TOTAL ASSETS 793,383 642,279 23.5% prepared in accordance with International Financial Reporting Standards (“IFRS”).

The figures presented in the condensed combined balance sheet are stated in thousands of Antillean LIABILITIES AND SHAREHOLDERS’ EQUITY Guilders and are rounded to the nearest thousand.

The policies are consistent, in all material respects, with those used in the previous year. Current Accounts 352,381 313,409 12.4%

Time deposits and savings 309,837 230,230 34.6% 3. LOANS AND ADVANCES TO CUSTOMERS

TOTAL DEPOSITS 662,218 543,639 21.8% Loans and advances are carried at amortized cost, less an allowance for loan impairment. An allowance for loan impairment is established if there is an indication that the Banks will not be able Due to banks 61,326 38,041 61.2% to collect all amounts due according to the original contractual loan terms. Accrued expenses, taxes and other liabilities 16,644 14,612 13.9%

TOTAL LIABILITIES 740,188 596,292 24.1%

Capital Stock 8,870 8,870 0.0%

Reserves and undivided profits 44,325 37,117 19.4%

TOTAL SHAREHOLDERS’ EQUITY 53,195 45,987 15.7%

TOTAL LIABILITY AND SHAREHOLDERS EQUITY 793,383 642,279 23.5%

THE WINDWARD ISLANDS BANK LTD. • ANNUAL REPORT 2006 • PAGE 5 THE WINDWARD ISLANDS BANK LTD. • ANNUAL REPORT 2006 • PAGE 6 Outlook Independent for 2007 Auditors’ Report Considering the diversity of our businesses and popula- The extension of the Cruise Harbor with additional recre- tion of different cultural backgrounds, we will be looking ational facilities, the real estate and marina projects of Dock for the right customers while fine-tuning our sales promo- Maarten and Bobby’s Marina will bring the Cruise Port To the Stockholders and Board of Directors of tion to target the specific market segments. facilities closer to Philipsburg making it a major attraction Windward Islands Bank Ltd and Windward Islands Bank International for the Cruise passengers. N.V. The significant growth in commercial credit is closely related to the real estate boom placing more stress on the In view of the number of new Condos being built and the We have audited the financial statements of Windward Islands Bank Ltd. and the environment. extension of some of the Hotel projects, we expect to see an financial statements of Windward Islands Bank International N.V. for the year ended This will call for more attention towards environmentally increase of stay-over tourists creating more business oppor- December 31, 2006, from which the condensed combined balance sheet and explana- responsible and friendly projects to maintain our good tunities and volumes in the Simpsonbay, Cupecoy and tory notes were derived, in accordance with International Standards on Auditing. corporate image. Colebay area.

In our auditors’ reports dated January 26, 2007, we expressed an unqualified opinion The Bank has opened a branch at the new PJIA Airport The Westin Resort, The Oysterbay club and the Acquarius on the financial statements of Windward Islands Bank Ltd. and Windward Islands terminal and will continue improving our business prem- Condos and other real estate projects will be creating new Bank International N.V. from which the condensed combined balance sheet and ises as well as the work environment of our staff particu- business activity on the eastern side of the island. explanatory notes were derived. larly at the Main office, the Consumer Loans Department on the Bushroad and our BankCard Continuous introduction of new services and products has In our opinion, the accompanying condensed combined balance sheet and explanatory Services. been a winning trademark of our Bank and we will contin- notes as of December 31, 2006 are consistent, in all material respects, with the finan- ue to improve our cash area and counter-service with new cial statements of Windward Islands Bank Ltd. and Windward Islands Bank We’ll need to enhance the diversity and the specialization systems. International N.V. from which they have been derived. of our work force to follow the changing customers and their specific business needs in these times. Entering a new phase of the Constitutional changes defin- For a better understanding of the condensed combined balance sheet and explanatory Our rapid growth calls for further training in Sales and ing the island’s new status and relations within the notes and of the scope of our audit, the condensed combined balance sheet and explanatory notes should be read in conjunction with the financial statements of Financial administrative services to meet the regulatory Kingdom will place some stress on the country’s Windward Islands Bank Ltd. and Windward Islands Bank International N.V. from requirements and standards imposed by these new mar- Government organization and its leaders, calling for closer which they have been derived and our auditors’ report thereon. ket conditions. consultations with all social and economic stakeholders to keep the future of our economy and the quality of life, on Sint Maarten, Philipsburg will see the completion of the Backstreet the right track. January 26, 2007 Renovation Program, turning this part of Philipsburg into a major garment shopping center for the North Eastern KPMG Accountants B.V. .

V.T.M. Bergisch RA

THE WINDWARD ISLANDS BANK LTD. • ANNUAL REPORT 2006 • PAGE 7 THE WINDWARD ISLANDS BANK LTD. • ANNUAL REPORT 2006 • PAGE 8 SAILBOAT Traditional Ballast: Sea Rocks-Were found at Friars Bay Beach and Pointe Blanche. They were placed in the center of the boat bottom. Sail Boats Iron- Most ships/schooners carried weight to stabilize the ves- sel a sea. At times when they picked up cargo they often lighten up by St Maarten has one tradition that we have recently disembarking some of the weight. Most boats in St. Martin seen a resurgence of sorts and that is with tradition- dove their irons from a shipwreck that was near Red Pond. al sailboats. While today, we see the traditional boats These irons already had two holes at each end that a rope went being used for friendly sailing competitions, the his- through with a knot to act as a carrying handle. tory of these vessels goes back much farther. Sand Bags: Flour bags filled with beach sand were layed on top of the sea rocks. In light wind conditions SAILBOATS FOR DAILY SUBSISTENCE they were often opened and sand was dumped out to Traditional sailboats on St Maarten were most prominent in lessen the weight load. the early part of the 20th century with the St. Martiners making use of the vessels for daily subsistence. In fact, sev- Sails: These were cloth sails in the early days sewn eral men became adept at building the small boats and often by hand by the people of Simpson Bay. Today made use of them to provide seafood for the island’s inhab- sales are fabricated at St. Maarten Sails. itants. With little means besides breeding cattle and other Boom: In the early days the boom was made from bam- livestock, the surrounding waters provided an abundance of boo trees. Today they are made out of aluminum by FKG seafood for the community. In the early morning hours, Marine Rigging. men would go down to the waterfront, haul down the boats into the water, load the ballast, put in the mast, sails and Timber: White cedar trees were used. rudder and then set sail for the fishing grounds. Bad weath- er or good weather, the fish pots had to be hauled and the SAILBOAT RACING fish had to be sold. Wherever you find an activity for men, it is expected that some sort of rivalry will develop. Stories are told of how the men used It was a high-risk profession; just imagine standing in a to boast about the craftmanship of their sailboat and the speed cranky, bouncing boat hauling up a heavy fish pot from a at which they could maneuver the boats. Out of this grew what depth of some 300 feet all in rough seas with the risk of is today referred to as traditional sailboat races. By the middle falling overboard or being sunk by a wave. It is understand- of the twentieth century with the island developing to a stage able that the men took great pride in being able to build where the boats were not necessarily needed for daily subsis- these small boats and create a viable commerce out of them. tence, boat racing became a favorite Not only on the French side, but also in past time. The traditionally sleepy the area of Simpsonbay inhabitants made villages of Marigot, Grand Case and use of these small traditional boats as a Simpsonbay came alive with weekly way of making a living. The boats were friendly competitions between the also used as a means of transportation sailboats. from one village to another. The skill in building the boats was passed on from Eventually, the capital of Philipsburg one generation to the next. As time pro- also got involved in the sailboat races gressed, the fishermen turned what was a and during the Holidays of July 14th, simple means of making a living into a November 11th and December 15th commercial activity . the bays of Marigot, Simpsonbay, Grand Case and Great Bay. Many LAYOUT OF A TRADITIONAL captains became famous on the island

THE WINDWARD ISLANDS BANK LTD. • ANNUAL REPORT 2006 • PAGE 9 THE WINDWARD ISLANDS BANK LTD. • ANNUAL REPORT 2006 • PAGE 10 because of their skill in building and maneuvering the boats but was lost in 1999 due to Hurricane Lenny. ing and racing the sailboats. With the Heineken Regatta during these friendly competitions. Perfect Timing: In 1995, Nat built Perfect Timing one of being in existence for twenty years and other sailboat races the oldest boats in racing today. being held on St Maarten, the group had to find a way to It is not certain what happened, but in the late 80’s and “Nat” hopes to see the art of building boats turned into a differentiate their small boats from the larger boats with 90’s traditional sailboat racing declined on St Maarten. In reality. It only takes about one week to build a 23 feet their massive masts, long booms, sails and even engines. fact, other types of sailboats became abundantly present boat. He is willing and looks forward to being able to The term traditional boat racing was appropriately used to resulting in the introduction of the Heineken Regatta. teach the art of teaching youngsters from high school how highlight a part of St Maarten’s tradition that brings a nos- However, there were several persons who continued the tra- to build boats and then compete in races. Until this talgic feeling and atmosphere that brought the communi- dition of building sailboats and participated in racing in the becomes a reality, Nat continues to coach some of the ties together in the past. and St Maarten sailboat competitions. One of younger boys now carrying on this interesting sport. Several young men also got involved in the races and these persons is Mr. David Benjamin better known as decided that in order for the sport to flourish they needed “Nat”. the support of the local business community. There is a “NAT” GREAT SAILBOAT BUILDER TRADITIONAL BOAT RACING REVIVED tremendous skill involved in having the boats built and to AND RACER At the start of the Twenty First century a small group of be able to have proper sails and masts made and main- David “Nat” Benjamin has been actively involved in tradi- men decided to get more involved in the business of build- tained. There is a lot of risk involved and for that reason tional boat racing for over 26 years. However, he has fond liability insurance is also needed. Consequently, “Nat” memories of how as a child he started out in fun races with founded an Association with the purpose of ensuring that makeshift boats. the sport can be officially recognized and supported. Grassboats: As a child, Nat and his friends used to race lit- Presently, there are some five to seven traditional sailboats tle boats made from guinea grass in the streams during the that are officially sponsored by companies on St Maarten rainy season. and these traditional boats participate in weekly competi- Grapeleaf boats: As they grew older, they started to have tions in Grand Case proudly displaying the names of their races with boats made from white pine. Metal from the cast sponsors. rum barrel (barrel stay) was used with white pine bent in a particular direction. Coconut straws were used for the mast TRADITIONAL BOAT RACES and grape leaves were used as sails; hence the name BACK IN GREAT BAY “Grapeleaf boats”. In 2005, an excellent initiative was presented by Gum tree shaped boat: In this case, a turpentine tree was Ferdinand Beauperthuy, a WIB employee whose grandfa- cut out and dredged. These would be sailed without a rud- ther was also named Ferdinand Beauperthuy, who decided der. Depending on the wood, the Gum tree shaped boat was to approach WIB and Taloula Mango with the idea to between 2 to 3 feet in length. bring back the boat races to Great Bay. In the early twen- Nat was champion in all three categories. tieth century, the elder Ferdinand Beauperthuy owned sev- eral wellknown sailboats. Realizing the importance of this Remote control boat: : Larger boats of 3-4 feet. The traditional sport and themselves having been involved in remotes were used to control the sails from the shore. sailboat racing in their youth, both Jan Beaujon of WIB and Norman Wathey of Taloula Mango agreed to co-spon- With his fervent interest and participation in the makeshift sor the event and with that traditional boat races were boat races since his early childhood days, “Nat” turned his brought back to Great Bay and Philipsburg. The enthusi- passion into building boats as an adult. He honed his skills asm of this popular tradition is expected to receive more learnt from from a paraplegic friend in St Kitts. Nat is cred- support from the business community and we can now ited with building several champion boats throughout the start looking forward to more friendly competitions past 26 years, including: between the guys and their traditional sailboats.

Erica: a 23 feet sailboat that dominated Anguilla and St Maarten races from 1971 to 1981. Natalie: A 28 feet S-boat design, considered the best boat ever built out of wood in 1981. This boat never lost a race,

THE WINDWARD ISLANDS BANK LTD. • ANNUAL REPORT 2006 • PAGE 11 THE WINDWARD ISLANDS BANK LTD. • ANNUAL REPORT 2006 • PAGE 12 With the opening of the new PJIA terminal WIB again showed its dedication to giving quality and convenient service WIB in the to the public by providing them with a branch at the airport.

Community WIB employees once again showed their togetherness by cel- ebrating Employee Appreciation Day with the theme Together WIB sees the importance of supporting community endeavors. On Everyone Achieves More (TEAM). Some of the activities Saturday December 15th, 2006 some 15 staff members and man- included breakfast, an evening at the movies and a tour of the agement got together to show off their community spirit by paint- Signing for WIB Branch at PJIA new airport terminal building. ing the home of a senior citizen. The project was a first initiative of many projects that are to be carried out during the course of the WIB Employee Appreciation Day WIB house painting next year. WIB proudly assisted four students of the Milton Peters College with their airfare to the Netherlands WIB understands the importance of a good education and has to take part in the 2006 Mathematics A-Lympiad always been a supporter of events that benefit both teachers and championship. Nathalie Tackling, Christella students of the local schools when skills learned at trainings are Garad, Stephanie Mooij and Mathias Voges repre- put to use in the classrooms. sented their school both academically and socially. They competed against some of the best In order to help keep our youngsters off the streets and into sports Mathematics students from the Netherlands, WIB has come to the aid of the Islands sporting facilities. WIB Denmark, Germany and and proudly has provided financing to the Foundation Upkeep Sports Facilities returned as the champions. (FUSF) for the full completion and rehabilitation of all the sport- ing facilities that fall under the foundation. Some of the facilities The opening of the new Melford Hazel Sports & Donation to St. Joseph School that have been rehabilitated are the Melford Hazel Sports Recreational Center was proof of the hard work of Complex, the LB Scott Sports Auditorium, John Cooper/Jose Lake the Foundation Upkeep Sports Facilities and their Sr. Ballpark and playground, the Raoul Illidge Sports Complex promise to use the funds of the special loan grant- Sports Field, the Cay Hill Basketball field, the Union Farm ed by WIB to complete the Sporting Facilities on Basketball field and the Simpsonbay sports field. the Islands for the benefit of our youngsters.

A total of more than $15,000 was given to four foundations as a In June 2006 WIB gave donations to all the major continued support to St. Maarten’s Carnival. These groups partic- summer camp foundations on the Island in sup- ipate each year making them important contributors to St. port of having a safe place for the youngsters to Maarten’s Carnival. They start preparing as soon as carnival is spend their free time during the summer vacation. over for the next year. WIB has been showing it’s support through Summer camp donation financial contribution for more than 20 years and will continue to Carnival Sponsorships Unveiling Melford Hazel WIB Employee Appreciation Day do so in the future. WIB Home Expo

The Caribbean Home Expo 2006, was a unique opportunity for businesses to display their products and services. The mobiliza- tion and organization of the WIB Marketing Team and Staff of the respective departments made WIB’s participation stand out amongst the vendors present.

THE WINDWARD ISLANDS BANK LTD. • ANNUAL REPORT 2006 • PAGE 13 THE WINDWARD ISLANDS BANK LTD. • ANNUAL REPORT 2006 • PAGE 14