32
BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED
ANNUAL REPORT 2013
Notes to the Consolidated Financial Statements
For the year ended March 31, 2013, with comparative figures for 2012
(Expressed in Barbados dollars)
10. FINANCIAL INVESTMENTS
Financial investments comprises:
2013
2012
Held to maturity
Government securities
$ 16,109,000
11,109,000
Interest receivable
268,955
208,370
$ 16,377,955
11,317,370
During the year ended March 31, 2013, interest rates varied from 1.75% to 8.00% per annum (2012 - 1.75% to 8.00%).
2013
2012
Available-for-sale
Equities - quoted
$ 1,439,684
1,744,066
Equities - unquoted
604,710
594,000
$ 2,044,394
2,338,066
2013
2012
Loans and receivables
Government securities
$ 3,194,742
2,150,000
Other securities
-
2,000,000
Interest receivable
77,656
64,891
$ 3,272,398
4,214,891
During the year ended March 31, 2013, interest rates varied from 4.25% to 7.40% per annum (2012 – 4.25% to 7.40%).
Investments include treasury bills of $2,150,000 (2012 – $2,150,000) held as a result of a subsidiary’s regulatory requirement
to maintain 1.5% of total domestic deposits as a statutory reserve.
