BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | CONSOLIDATED ANNUAL REPORT 2020 8 CONSOLIDATED FINANCIAL HIGHLIGHTS FOR THE YEARS ENDED MARCH 31, 2015 TO MARCH 31, 2019 In Bds $’000 2020 2019 2018 2017 2016 Statement of financial position: Assets Cash and equivalents 276,861 216,110 112,849 68,263 73,065 Investments and other short term deposits 56,696 61,974 76,711 84,338 90,309 Loans to Members (net) 1,311,851 1,235,760 1,174,576 1,099,233 1,001,430 Property and Equipment 61,852 59,772 59,741 44,725 31,712 Other 19,531 18,476 22,011 18,804 19,582 Total Assets 1,726,791 1,592,092 1,445,888 1,315,363 1,216,098 Liabilities Deposits 1,527,678 1,400,074 1,259,922 1,138,486 1,037,172 Loans Payable 1,342 13,520 15,230 22,323 41,011 Other 30,606 27,362 23,277 21,957 20,619 1,559,626 1,440,956 1,298,429 1,182,766 1,098,802 Equity Share Capital 12,008 11,401 10,706 10,084 9,407 Reserve Fund 142,363 134,694 121,094 107,687 97,658 Other Reserves 8,694 4,903 5,854 5,808 4,412 Retained earnings 4,100 138 9,805 9,018 5,819 Total Equity 167,165 151,136 147,459 132,597 117,296 Total Liabilities & Equity 1,726,791 1,592,092 1,445,888 1,315,363 1,216,098 Statement of income: Interest Income 106,307 104,657 101,056 95,242 89,462 Interest Expense 30,957 33,491 32,166 33,400 32,978 Net Interest Income 75,350 71,166 68,890 61,842 56,484 Other income 6,883 5,890 6,129 5,604 5,021 Net income and other income 82,233 77,056 75,019 67,446 61,505 Impairment loss on subsidiary - 2,910 - - - Expected Credit Losses 6,445 4,151 6,942 5,032 4,246 Net operating income 75,788 69,995 68,077 62,414 57,259 Total operating expenses 56,383 54,441 49,778 45,648 41,481 Loss on Government Security - 4,038 - - - Net income before taxes 19,405 11,516 18,299 16,766 15,778 Asset Tax 842 800 753 728 2,327 Corporation tax 168 -28 179 85 269 Net income after taxes 18,395 10,744 17,367 15,953 13,182
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