123 CONSOLIDATED FINANCIAL STATEMENTS 2026 Barbados Public Workers’ Co-operative Credit Union Limited Notes to the Consolidated Financial Statements March 31, 2026 (expressed in Barbados dollars) 91 24 Financial Risk Management …continued 24.6 Currency risk …continued 2025 Barbados $ Eastern Caribbean $ United States $ Total $ Assets: Cash resources 450,341,898 3,091,647 7,432,467 460,866,012 Investment securities: - Amortised cost 40,588,462 – – 40,588,462 - FVOCI 4,129,015 – – 4,129,015 - FVTPL 10,059,452 – – 10,059,452 Loans and advances 1,360,420,292 18,016,277 – 1,378,436,569 Other assets 42,159,722 264,427 3,117,470 45,541,619 Total Financial Assets 1,907,698,841 21,372,351 10,549,937 1,939,621,129 Liabilities: Deposits 1,727,006,256 23,579,880 – 1,750,586,136 Reimbursable shares 32,619,237 – – 32,619,237 Other liabilities 23,518,346 701,018 – 24,219,364 Total Financial Liabilities 1,783,143,839 24,280,898 – 1,807,424,737 24.7 Operational risk Operational risk is the risk of direct or indirect loss arising from a wide variety of causes associated with the Group’s processes, personnel, technology and infrastructure, and from external factors other than credit, market and liquidity risks such as those arising from legal and regulatory requirements and generally accepted standards of corporate behaviour. While operational risk is inherent to each of the Group's business activities, the exposure is minimised by ensuring that the appropriate infrastructure, controls, systems and human resources are in place. Key policies and procedures used in managing operating risk involve a strong internal audit function, segregation of duties, delegation of authority, and financial and managerial reporting. Within the Group, mitigation of operating risk is assigned to senior management supported by a well-defined organisational structure that segregates operational and administrative functions. Back-up capabilities are also maintained to ensure on-going service delivery in adverse circumstances. In addition, periodic reviews are undertaken by the Internal Audit department. The results of the reviews are discussed with the management of the business unit to which they relate, senior management and the Board of Directors.
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