Non-Consolidated Annual Report 2020

BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | NON-CONSOLIDATED ANNUAL REPORT 2020 42 BARBADOS PUBLIC WORKERS' CO-OPERATIVE CREDIT UNION LIMITED Notes to the Non-consolidated Financial Statements For the year ended March 31, 2020 (Expressed in Barbados dollars) 25 3. Net Interest Income 2020 2019 Interest income Loans and advances $ 87,871,266 86,864,370 Financial investments 1,363,526 1,616,861 Cash resources 662,150 901,900 $ 89,896,942 89,383,131 Interest expense Deposits $ 23,393,457 26,140,047 Lease liability 153,392 - 23,546,849 26,140,047 Net interest income $ 66,350,093 63,243,084 4. Other Income 2020 2019 Fee income $ 1,786,015 1,531,194 Legal income 1,443,202 988,423 Rental income 48,292 50,804 Bad debt recoveries 1,172,506 1,063,131 Dividend income 89,414 138,376 Loss on disposal of property and equipment (27,641) - $ 4,511,788 3,771,928 5. Expected Credit Losses 2020 2019 Loans and advances (note 11) $ 6,297,676 3,946,208 Undrawn loan commitments 19,722 - Financial investments (239,722) (183,296) Term deposits 45,081 7,688 $ 6,122,757 3,770,600