Consolidated Annual Report 2015

BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED CONSOLIDATED ANNUAL REPORT 2015 6 CONSOLIDATED FINANCIAL HIGHLIGHTS FOR THE YEARS ENDED MARCH 31, 2011 TO MARCH 31, 2015 In Bds $’000 2015 2014 2013 2012 2011 Statement of financial position: Assets Cash and equivalents 56,129 72,274 65,137 49,215 35,509 Investments and other short term deposits 83,628 76,039 73,991 71,556 56,603 Loans to Members (net) 906,060 825,149 774,615 749,729 712,623 Property and Equipment 30,060 30,009 27,263 26,553 28,194 Other 14,801 13,578 10,279 9,512 9,378 1,090,678 1,017,049 951,285 906,565 842,307 Liabilities Deposits 915,312 839,052 772,320 735,909 673,773 Loans Payable 52,035 63,966 74,476 80,101 85,188 Other 17,883 17,428 17,335 14,448 15,626 985,230 920,446 864,131 830,458 774,587 Equity Share Capital 8,764 8,240 7,760 7,394 7,037 Reserve Fund 89,804 81,891 71,540 62,954 56,885 Other Reserves 2,773 1,907 1,078 1,633 1,579 Retained earnings 4,107 4,565 6,776 4,126 2,219 105,448 96,603 87,154 76,107 67,720 1,090,678 1,017,049 951,285 906,565 842,307 Statement of income: Interest Income 80,930 77,904 73,962 71,555 63,285 Interest Expense 31,176 29,172 28,444 28,615 25,352 Net Interest Income 49,754 48,732 45,518 42,940 37,933 Other income 3,730 3,446 4,032 3,640 3,250 Net income and other income 53,484 52,178 49,550 46,580 41,183 Loan impairment expense 3,951 4,699 4,890 3,993 5,593 Net operating income 49,533 47,479 44,660 42,587 35,590 Total operating expenses 39,756 36,132 31,534 33,163 29,538 Net income before taxes 9,777 11,347 13,126 9,424 6,052