59 SEPARATE FINANCIAL STATEMENTS 2026 Barbados Public Workers’ Co-operative Credit Union Limited Notes to the Separate Financial Statements March 31, 2026 (expressed in Barbados dollars) 34 10 Financial investments 2026 $ 2025 $ Debt securities Amortised cost Sovereign & Corporate bonds 80,857,532 37,747,126 Securitized deposits (note 21) 25,428,964 27,560,202 Interest receivable - Securitized deposits 377,917 89,717 Interest receivable - Sovereign & Corporate bonds 688,825 295,072 107,353,238 65,692,117 Less: expected credit loss allowance (115,370) (174,116) 107,237,868 65,518,001 Equity securities FVOCI Corporate equity - quoted (i) 1,000,000 980,000 Corporate equity - unquoted 2,018,248 1,958,342 3,018,248 2,938,342 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 120,315,568 78,515,795 The average effective yield during the year on amortised cost investments was 3.93% (2025 - 3.43%). (i) Quoted equities represent the Credit Union’s investment in ICBL of 500,000 (2025 - 500,000) common shares. As at March 31, 2026, the quoted bid price of these common shares was $2.00 (2025 - $1.96) per share. (ii) Preferred shares represent the Credit Union’s investment in 10,000,000 (2025 - 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 (2025 - $1.00) each. The shares carry a sixty-four (64) months tenure and pay a 7.00% dividend.
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