Consolidated Annual Report 2017

BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | CONSOLIDATED ANNUAL REPORT 2017 8 CONSOLIDATED FINANCIAL HIGHLIGHTS FOR THE YEARS ENDED MARCH 31, 2013 TO MARCH 31, 2017 In Bds $’000 2017 2016 2015 2014 2013 Statement of financial position: Assets Cash and equivalents 68,263 73,065 56,129 72,274 65,137 Investments and other short term deposits 84,338 90,309 83,628 76,039 73,991 Loans to Members (net) 1,099,233 1,001,430 906,060 825,149 774,615 Property and Equipment 44,725 31,712 30,060 30,009 27,263 Other 18,804 19,582 14,801 13,578 10,279 1,315,363 1,216,098 1,090,678 1,017,049 951,285 Liabilities Deposits 1,138,486 1,037,172 915,312 839,052 772,320 Loans Payable 22,323 41,011 52,035 63,966 74,476 Other 21,957 20,619 17,883 17,428 17,335 1,182,766 1,098,802 985,230 920,446 864,131 Equity Share Capital 10,084 9,407 8,764 8,240 7,760 Reserve Fund 107,687 97,658 89,804 81,891 71,540 Other Reserves 5,808 4,412 2,773 1,907 1,078 Retained earnings 9,018 5,819 4,107 4,565 6,776 132,597 117,296 105,448 96,603 87,154 1,315,363 1,216,098 1,090,678 1,017,049 951,285 Statement of income: Interest Income 95,242 89,462 80,930 77,904 73,962 Interest Expense 33,400 32,978 31,176 29,172 28,444 Net Interest Income 61,842 56,484 49,754 48,732 45,518 Other income 5,604 5,021 3,730 3,446 4,032 Net income and other income 67,446 61,505 53,484 52,178 49,550 Loan impairment expense 5,032 4,246 3,951 4,699 4,890 Net operating income 62,414 57,259 49,533 47,479 44,660 Total operating expenses 45,648 41,481 38,151 36,132 31,534 Net income before taxes 16,766 15,778 11,382 11,347 13,126 Asset Tax 728 2,327 1,604 Corporation tax 85 269 136 220 321 Net income after taxes 15,953 13,182 9,642 11,127 12,805