8 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | SEPARATE FINANCIAL STATEMENTS 2022 Financial Highlights Financial Highlights - Five Year Review In Bds $’000 2022 2021 2020 2019 2018 Statement of financial position: Assets Cash and equivalents 376,390 350,989 261,089 197,824 95,296 Investments 69,958 62,840 55,075 57,098 68,578 Loans to Members (net) 1,114,980 1,054,665 1,046,080 997,535 958,067 Property and Equipment 51,377 52,507 53,772 54,725 55,837 Other Assets 60,493 56,176 56,696 45,135 45,865 Total Assets 1,673,198 1,577,177 1,472,712 1,352,317 1,223,643 Liabilities and Owner’s Equity Liabilities Deposits 1,453,146 1,374,306 1,279,598 1,175,004 1,055,847 Other 35,658 29,705 24,150 23,077 19,847 1,488,804 1,404,011 1,303,748 1,198,081 1,075,694 Equity Share Capital 12,901 12,357 12,008 11,401 10,706 General& Other Reserves 166,742 156,436 148,952 138,632 126,048 Retained earnings 4,751 4,373 8,004 4,203 11,195 184,394 173,166 168,964 154,236 147,949 Total Liabilities and Owner’s Equity 1,673,198 1,577,177 1,472,712 1,352,317 1,223,643 Statement of income: Interest Income 86,601 83,591 89,897 89,383 86,589 Interest Expense 22,139 23,177 23,547 26,140 25,151 Net Interest Income 64,462 60,414 66,350 63,243 61,438 Other income 4,580 3,721 4,512 3,772 4,317 Net income and other income 69,042 64,135 70,862 67,015 65,755 Impairment expense 6,498 9,247 6,123 5,078 6,535 Net operating income 62,544 54,888 64,739 61,937 59,220 Total operating expenses 52,277 46,869 47,647 46,340 42,623 Net income before extra-ordinary items 10,267 8,019 17,092 15,597 16,597 Derecognition of Government Securities 3,635 - Tax of Assets - - - - - Net income after extra-ordinary items 10,267 8,019 17,092 11,962 16,597
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