Consolidated Annual Report 2018

BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | CONSOLIDATED ANNUAL REPORT 2018 86 BARBADOS PUBLIC WORKERS' CO-OPERATIVE CREDIT UNION LIMITED Notes to the Consolidated Financial Statements For the year ended March 31, 2018 (Expressed in Barbados dollars) 71 Details of Consolidated Statement of Income Barbados Public Workers Co-operative Credit Union Limited and Its Subsidiaries 2018 BPWCCUL BPWFHI CAPITA FSI Eliminations Total Income: Interest on loans 3 $ 83,434,300 - 14,142,556 - 97,576,856 Interest on investment 3 3,155,066 157 815,886 (491,882) 3,479,227 Total Interest Income 86,589,366 157 14,958,442 (491,882) 101,056,083 Interest Expense: Interest on deposits 3 25,089,206 - 7,050,124 (491,882) 31,647,448 Interest on investment 3 61,730 - 456,469 - 518,199 Total Interest Expenses 25,150,936 - 7,506,593 (491,882) 32,165,647 Net Interest Income 61,438,430 157 7,451,849 - 68,890,436 Provision for loan loss 6,535,134 - 407,207 - 6,942,341 54,903,296 157 7,044,642 - 61,948,095 Non Interest Income Fees and commissions 4,316,371 902,304 2,018,905 (1,108,476) 6,129,104 59,219,667 902,461 9,063,547 (1,108,476) 68,077,199 Compensation and benefits 17,844,717 41,803 2,493,002 - 20,379,522 Occupancy and operations 14,992,648 506,788 3,667,083 (973,573) 18,192,946 Professional fees 1,096,681 - 569,524 - 1,666,205 Members security and social benefits 4,676,169 - - - 4,676,169 Promotions and other 4,012,755 - 851,237 - 4,863,992 Net income before taxes and levies 16,596,697 353,870 1,482,701 - 18,298,365 Taxes and levies - - 931,361 - 931,361 Net income after taxes and levies $ 16,596,697 353,870 551,340 (134,903) 17,367,004