Kirchman Corporation recognises Barbados National Bank

In an awards ceremony held
this monty at the Caribbean Association of Indigenous Bankers (CAIB) annual
conference, Rachel A. Landrum, President, Kirchman Corporation, presented
Louis Greenidge with an award acknowledging Barbados National Bank`s (BNB)
selection as Bank of the Year 2003 - Barbados by The Banker magazine, a subsidiary of the Financial Times of London.  The award was presented before
more than 150 banking executives attending the event from throughout the
Caribbean. The CAIB is the premier banking event in the region.

“Kirchman Corporation is proud to be the provider of BNB`s core bank processing system, and also of our longstanding relationship with Louis Greenidge and his innovative financial institution.”

In accepting the award, Greenidge, Chief Executive Officer and Managing Director of Barbados National Bank commented, “2002 was an excellent year for our bank, even in the face of difficult market conditions. We attribute our success to our focus on excellence in service, continuous improvement in productivity, and risk management. Kirchman Corporation has been a true
partner with BNB, and its Bankway(R) processing system contributed significantly to our achievement in all of our focus areas.

In 2003, BNB posted a 40% increase in net profit, a 17.8% return on equity, and lowered its cost-to-income ratio by 15%, despite a contraction in the Barbados local economy.

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