Consolidated Annual Report 2019

BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | CONSOLIDATED ANNUAL REPORT 2019 8 CONSOLIDATED FINANCIAL HIGHLIGHTS FOR THE YEARS ENDED MARCH 31, 2015 TO MARCH 31, 2019 In Bds $’000 2019 2018 2017 2016 2015 Statement of financial position: Assets Cash and equivalents 216,110 112,849 68,263 73,065 56,129 Investments and other short term deposits 61,974 76,711 84,338 90,309 83,628 Loans to Members (net) 1,235,760 1,174,576 1,099,233 1,001,430 906,060 Property and Equipment 59,772 59,741 44,725 31,712 30,060 Other 18,476 22,011 18,804 19,582 14,801 1,592,092 1,445,888 1,315,363 1,216,098 1,090,678 Liabilities Deposits 1,400,074 1,259,922 1,138,486 1,037,172 915,312 Loans Payable 13,520 15,230 22,323 41,011 52,035 Other 27,362 23,277 21,957 20,619 17,883 1,440,956 1,298,429 1,182,766 1,098,802 985,230 Equity Share Capital 11,401 10,706 10,084 9,407 8,764 Reserve Fund 134,694 121,094 107,687 97,658 89,804 Other Reserves 4,903 5,854 5,808 4,412 2,773 Retained earnings 138 9,805 9,018 5,819 4,107 151,136 147,459 132,597 117,296 105,448 1,592,092 1,445,888 1,315,363 1,216,098 1,090,678 Statement of income: Interest Income 104,657 101,056 95,242 89,462 80,930 Interest Expense 33,491 32,166 33,400 32,978 31,176 Net Interest Income 71,166 68,890 61,842 56,484 49,754 Other income 5,890 6,129 5,604 5,021 3,730 Net income and other income 77,056 75,019 67,446 61,505 53,484 Impairment loss on subsidiary 2,910 0 0 0 0 Impairment expense 4,151 6,942 5,032 4,246 3,951 Net operating income 69,995 68,077 62,414 57,259 49,533 Total operating expenses 54,441 49,778 45,648 41,481 38,151 Loss on Government Security 4,038 0 0 0 0 Net income before taxes 11,516 18,299 16,766 15,778 11,382 Asset Tax 800 753 728 2,327 1,604 Corporation tax -28 179 85 269 136 Net income after taxes 10,744 17,367 15,953 13,182 9,642