36 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Barbados Public Workers’ Co-operative Credit Union Limited Separate Statement of Income For the year ended March 31, 2025 (expressed in Barbados dollars) 4 Notes 2025 $ 2024 $ Interest income 3 86,572,875 87,099,001 Interest expense 3 (17,897,996) (19,644,110) Net interest income 3 68,674,879 67,454,891 Other income 4 5,817,280 5,663,328 Net interest and other income 74,492,159 73,118,219 Expected credit losses 5 (1,635,816) (2,675,729) Net operating income 72,856,343 70,442,490 Staff costs 6 27,259,974 23,849,756 Operating expenses 7 36,699,091 34,074,066 Depreciation 12 3,719,722 3,698,210 Total expenses 67,678,787 61,622,032 Net income for the year 5,177,556 8,820,458 The accompanying notes form an integral part of these separate financial statements.
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