Consolidated Annual Report 2016

BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED CONSOLIDATED ANNUAL REPORT 2016 8 CONSOLIDATED FINANCIAL HIGHLIGHTS FOR THE YEARS ENDED MARCH 31, 2012 TO MARCH 31, 2016 In Bds $’000 2016 2015 2014 2013 2012 Statement of financial position: Assets Cash and equivalents 73,065 56,129 72,274 65,137 49,215 Investments and other short term deposits 90,309 83,628 76,039 73,991 71,556 Loans to Members (net) 1,001,430 906,060 825,149 774,615 749,729 Property and Equipment 31,712 30,060 30,009 27,263 26,553 Other 19,582 14,801 13,578 10,279 9,512 1,216,098 1,090,678 1,017,049 951,285 906,565 Liabilities Deposits 1,037,172 915,312 839,052 772,320 735,909 Loans Payable 41,011 52,035 63,966 74,476 80,101 Other 20,619 17,883 17,428 17,335 14,448 1,098,802 985,230 920,446 864,131 830,458 Equity Share Capital 9,407 8,764 8,240 7,760 7,394 Reserve Fund 97,658 89,804 81,891 71,540 62,954 Other Reserves 4,412 2,773 1,907 1,078 1,633 Retained earnings 5,819 4,107 4,565 6,776 4,126 117,296 105,448 96,603 87,154 76,107 1,216,098 1,090,678 1,017,049 951,285 906,565 Statement of income: Interest Income 89,462 80,930 77,904 73,962 71,555 Interest Expense 32,978 31,176 29,172 28,444 28,615 Net Interest Income 56,484 49,754 48,732 45,518 42,940 Other income 5,021 3,730 3,446 4,032 3,640 Net income and other income 61,505 53,484 52,178 49,550 46,580 Loan impairment expense 4,246 3,951 4,699 4,890 3,993 Net operating income 57,259 49,533 47,479 44,660 42,587 Total operating expenses 41,481 38,151 36,132 31,534 33,163 Net income before taxes 15,778 11,382 11,347 13,126 9,424 Asset Tax 2,327 1,604 Corporation tax 269 136 220 321 177 Net income after taxes 13,182 9,642 11,127 12,805 9,247