Consolidated Annual Report 2019

BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | CONSOLIDATED ANNUAL REPORT 2019 97 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Notes to the Consolidated Financial Statements For the year ended March 31, 2019 (Expressed in Barbados dollars) 82 Details of Consolidated Statement of Income Barbados Public Workers Co-operative Credit Union Limited and Its Subsidiaries 2019 BPWCCUL BPWFHI CAPITA FSI Eliminations Total Non Interest Income Fees and commissions $ 3,771,928 897,305 2,288,212 (1,067,692) 5,889,753 61,937,012 897,305 9,830,404 (2,670,292) 69,994,429 Compensation and benefits 20,046,950 64,781 2,600,338 - 22,712,069 Occupancy and operations 18,957,677 1,081,823 3,982,819 (967,692) 23,054,627 Professional fees 997,962 - 498,543 - 1,496,505 Members’ security and social benefits 3,054,140 - 87,861 - 3,142,001 Promotions and other 3,283,424 - 751,964 - 4,035,388 Total other operating expenses 46,340,153 1,146,604 7,921,525 (967,692) 54,440,590 Net income before taxes and levies 15,596,859 (249,299) 1,908,879 (1,702,600) 15,553,839 Loss on derecognition of investments 3,634,651 - 403,280 - 4,037,931 Taxes and levies - - 771,754 - 771,754 Net income after taxes and levies $ 11,962,208 (249,299) 733,845 (1,702,600) 10,744,154