changes in 1993.

In just released 1996 fiscal year results, the bank reported profit of $2.2 million compared to $1.6 million for the prior year, an increase of 37 percent. Profit was $1 million in 1994 and $.5 million in 1993.

For the year ended September 30, 1996, assets under administration, custody and trust increased by $1 billion, or 28 percent, to $4.6 billion.

At September 30 the bank's total assets were $404.8 million compared to $272.6 million a year earlier, an increase of 48 percent. Assets have climbed about 90 percent over the three year period commencing September 30, 1993.

"The financial year 1995/96 was another successful year for BCB,'' bank chairman John Deuss said.

"The balance sheet growth and increase in profits reflect the hard work and determination of the entire BCB staff during the past year and indeed, the past three and a half years,'' he said.

Mr. Deuss also said that the bank's deposit base, from existing and new clients, increased substantially.

"Our results this year not only reflect success in implementing our strategy, but also an increased level of confidence in the bank.'' The bank also reported net interest income rose to $3.9 million from $3.1 million.

Fees and commissions from treasury, custody, corporate management and trust operations increased to $3.6 million from $2.9 million.

Operating expenses rose to $6.9 million from $5.9 million.

Demand, savings and term deposits rose to $371.8 million from $242.1 million.

Shareholders' funds at financial year end were $27.7 million compared to $26.1 million a year earlier.

These are the last full year results for the bank's managing director Audette Exel who announced earlier she will resign at the end of 1996 to return to New Zealand. A successor has not yet been named.

On August 19, 1994, BCB named Ms Exel, then 31, managing director. She had been appointed acting managing director in October 1993.

In May of 1993, First Curacao International Bank bought a 32 percent stake in BCB from Barclays Bank Plc. First Curacao is wholly-owned by Mr. Deuss.