Consolidated Annual Report 2014

BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED ANNUAL REPORT 2014 6 CONSOLIDATED FINANCIAL HIGHLIGHTS FOR THE YEARS ENDED MARCH 31, 2010 TO MARCH 31, 2014 In Bds $’000 2014 2013 2012 2011 2010 Restated Restated Restated Statement of financial position: Assets Cash and cash equivalents 68,458 65,137 49,215 35,509 39,093 Investments and other short term deposits 79,855 73,991 71,556 56,603 53,890 Loans to Members (net) 825,149 774,615 749,729 712,623 545,488 Property and Equipment 30,009 27,263 26,553 28,194 27,419 Other 13,578 10,279 9,512 9,378 5,866 1,017,049 951,285 906,565 842,307 671,756 Liabilities Deposits 839,052 772,320 735,909 673,773 556,123 Loans Payable 63,966 74,476 80,101 85,188 48,558 Other 17,428 17,335 14,448 15,626 4,354 920,446 864,131 830,458 774,587 609,035 Equity Share Capital 8,240 7,760 7,394 7,037 6,634 Reserve Fund 81,891 71,540 62,954 56,885 48,321 Other Reserves 1,907 1,078 1,633 1,579 1,563 Retained Earnings 4,565 6,776 4,126 2,219 6,203 96,603 87,154 76,107 67,720 62,721 1,017,049 951,285 906,565 842,307 671,756 Statement of income: Interest Income 77,904 73,962 71,555 63,285 53,124 Interest Expense 29,172 28,444 28,615 25,352 20,616 Net Interest Income 48,732 45,518 42,940 37,933 32,508 Other income 3,446 4,032 3,640 3,250 2,892 Net interest and other income 52,178 49,550 46,580 41,183 35,400 Loan impairment expense 4,699 4,890 3,993 5,593 3,624 Net operating income 47,479 44,660 42,587 35,590 31,776 Total expenses 36,132 31,534 33,163 29,538 22,732 Income before taxation 11,347 13,126 9,424 6,052 9,044