65 SEPARATE FINANCIAL STATEMENTS 2025 Barbados Public Workers’ Co-operative Credit Union Limited Notes to the Separate Financial Statements March 31, 2025 (expressed in Barbados dollars) 33 10 Financial investments 2025 $ 2024 $ Debt securities Amortised cost Sovereign bonds 37,747,126 32,496,763 Securitized deposits (note 21) 27,649,919 29,400,141 Interest receivable 295,072 138,264 65,692,117 62,035,168 Less: expected credit loss allowance (174,116) (132,203) 65,518,001 61,902,965 Equities securities FVOCI Corporate equity - quoted (i) 980,000 940,000 Corporate equity – unquoted 1,958,342 2,105,116 2,938,342 3,045,116 Debt securities FVTPL Preferred shares (ii) 10,000,000 10,000,000 Interest receivable 59,452 59,452 10,059,452 10,059,452 Balance at end of year 78,515,795 75,007,533 The average effective yield during the year on amortised cost investments was 3.43% (2024: 3.11%). (i) Quoted equities represent the Credit Union’s investment in ICBL of 500,000 (2024: 500,000) common shares. As at March 31, 2025, the quoted bid price of these common shares was $1.96 (2024: $1.88) per share. (ii) Preferred shares represent the Credit Union’s investment in 10,000,000 (2024: 10,000,000) cumulative preferred shares. On March 31, 2023 the Credit Union purchased 10,000,000 cumulative redeemable preferred shares with a par value of a $1.00 (2024: $1.00) each. The shares carry a sixty-four (64) months tenure and pays a 7.00% dividend.
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