38 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Barbados Public Workers’ Co-operative Credit Union Limited Consolidated Statement of Income For the year ended March 31, 2026 (expressed in Barbados dollars) 6 Notes 2026 $ 2025 $ Interest income 3 99,615,087 99,961,026 Interest expense 3 (23,240,154) (22,851,933) Net interest income 3 76,374,933 77,109,093 Other income 4 17,166,622 14,386,866 Net interest and other income 93,541,555 91,495,959 Expected credit losses 6 (857,988) (821,718) Net operating income 92,683,567 90,674,241 Staff costs 5 30,740,650 30,901,739 Operating expenses 7 45,475,771 46,625,425 Depreciation 14 5,235,138 5,953,416 Total expenses 81,451,559 83,480,580 Net income before levies and taxation 11,232,008 7,193,661 Tax on assets 8 (986,897) (1,014,502) Net income before taxation 10,245,111 6,179,159 Taxation 9 (177,610) (160,720) Net income for the year 10,067,501 6,018,439 The accompanying notes form an integral part of these consolidated financial statements.
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