6
BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED
ANNUAL REPORT 2013
CONSOLIDATED FINANCIAL HIGHLIGHTS
FOR THE YEARS ENDED MARCH 31, 2009 TO MARCH 31, 2013
In Bds $’000
2013
2012
2011
2010
2009
Restated
Statement of financial position:
Assets
Cash and cash equivalents
65,137
49,215
35,509
39,093
41,290
Investments and other short term deposits
73,991
71,556
56,603
53,890
42,762
Loans to Members (net)
774,615
749,729
712,623
545,488
486,712
Property and Equipment
27,263
26,553
28,194
27,419
24,736
Other
10,503
9,133
9,378
5,866
3,864
951,509
906,186
842,307
671,756
599,364
Liabilities
Deposits
772,320
735,909
673,773
556,123
499,745
Loans Payable
74,476
80,101
85,188
48,558
41,077
Other
17,335
14,448
15,626
4,354
4,437
864,131
830,458
774,587
609,035
545,259
Equity
Share Capital
7,760
7,394
7,037
6,634
6,100
Reserve Fund
71,540
62,954
56,885
48,321
42,119
Other Reserves
1,213
1,254
1,579
1,563
1,468
Retained earnings
6,865
4,126
2,219
6,203
4,418
87,378
75,728
67,720
62,721
54,105
951,509
906,186
842,307
671,756
599,364
Statement of income:
Interest Income
73,962
71,555
63,285
53,124
49,803
Interest Expense
28,444
28,615
25,352
20,616
22,566
Net Interest Income
45,518
42,940
37,933
32,508
27,237
Other income
4,032
3,640
3,250
2,892
2,650
Net interest income and other income
49,550
46,580
41,183
35,400
29,887
Loan impairment expense
4,890
3,993
5,593
3,624
3,629
Net operating income
44,660
42,587
35,590
31,776
26,258
Total expenses
31,446
33,163
29,538
22,732
18,843
Income before taxation
13,214
9,424
6,052
9,044
7,415
