Separate Annual Report 2021

8 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | SEPARATE FINANCIAL STATEMENTS 2021 FINANCIAL HIGHLIGHTS FINANCIAL HIGHLIGHTS - FIVE YEAR REVIEW In Bds $’000 2021 2020 2019 2018 2017 Statement of financial position: Assets Cash and equivalents 350,989 261,089 197,824 95,296 51,156 Investments 62,840 55,075 57,098 68,578 73,942 Loans to Members (net) 1,054,665 1,046,080 997,535 958,067 900,440 Property and Equipment 52,507 53,772 54,725 55,837 41,784 Other Assets 56,177 56,696 45,135 45,865 44,256 Total Assets 1,577,178 1,472,712 1,352,317 1,223,643 1,111,578 Liabilities and Owner’s Equity Liabilities Deposits 1,374,306 1,279,598 1,175,004 1,055,847 956,135 External Debt - - - - 5,317 Other 29,706 24,151 23,077 19,847 16,257 Total Liabilities 1,404,012 1,303,749 1,198,081 1,075,694 977,709 Equity Share Capital 12,357 12,008 11,401 10,706 10,084 General & Other Reserves 156,436 148,951 138,632 126,048 112,691 Retained earnings 4,373 8,004 4,203 11,195 11,094 Total Equity 173,166 168,963 154,236 147,949 133,869 Total Liabilities and Owner’s Equity 1,577,178 1,472,712 1,352,317 1,223,643 1,111,578 Statement of income: Interest Income 83,591 89,897 89,383 86,589 81,363 Interest Expense 23,176 23,547 26,140 25,151 26,172 Net Interest Income 60,415 66,350 63,243 61,438 55,191 Other income 3,721 4,512 3,772 4,317 3,965 Net income and other income 64,136 70,862 67,015 65,755 59,156 Impairment expense 9,247 6,123 5,078 6,535 4,645 Net operating income 54,889 64,739 61,937 59,220 54,511 Total operating expenses 46,869 47,647 46,340 42,623 38,494 Net income before extra-ordinary items 8,020 17,092 15,597 16,597 16,017 Derecognition of Government Securities 3,635 - - Net income after extra-ordinary items 8,020 17,092 11,962 16,597 16,017