Consolidated Annual Report 2018

BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | CONSOLIDATED ANNUAL REPORT 2018 8 CONSOLIDATED FINANCIAL HIGHLIGHTS FOR THE YEARS ENDED MARCH 31, 2014 TO MARCH 31, 2018 In Bds $’000 2018 2017 2016 2015 2014 Statement of financial position: Assets Cash and equivalents 112,849 68,263 73,065 56,129 72,274 Investments and other short term deposits 76,711 84,338 90,309 83,628 76,039 Loans to Members (net) 1,174,576 1,099,233 1,001,430 906,060 825,149 Property and Equipment 59,741 44,725 31,712 30,060 30,009 Other 22,011 18,804 19,582 14,801 13,578 1,445,888 1,315,363 1,216,098 1,090,678 1,017,049 Liabilities Deposits 1,259,922 1,138,486 1,037,172 915,312 839,052 Loans Payable 15,230 22,323 41,011 52,035 63,966 Other 23,277 21,957 20,619 17,883 17,428 1,298,429 1,182,766 1,098,802 985,230 920,446 Equity Share Capital 10,706 10,084 9,407 8,764 8,240 Reserve Fund 121,094 107,687 97,658 89,804 81,891 Other Reserves 5,854 5,808 4,412 2,773 1,907 Retained earnings 9,805 9,018 5,819 4,107 4,565 147,459 132,597 117,296 105,448 96,603 1,445,888 1,315,363 1,216,098 1,090,678 1,017,049 Statement of income: Interest Income 101,056 95,242 89,462 80,930 77,904 Interest Expense 32,166 33,400 32,978 31,176 29,172 Net Interest Income 68,890 61,842 56,484 49,754 48,732 Other income 6,129 5,604 5,021 3,730 3,446 Net income and other income 75,019 67,446 61,505 53,484 52,178 Loan impairment expense 6,942 5,032 4,246 3,951 4,699 Net operating income 68,077 62,414 57,259 49,533 47,479 Total operating expenses 49,778 45,648 41,481 38,151 36,132 Net income before taxes 18,299 16,766 15,778 11,382 11,347 Asset Tax 753 728 2,327 1,604 0 Corporation tax 179 85 269 136 220 Net income after taxes 17,367 15,953 13,182 9,642 11,127