BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED
ANNUAL REPORT 2014
6
CONSOLIDATED FINANCIAL HIGHLIGHTS
FOR THE YEARS ENDED MARCH 31, 2010 TO MARCH 31, 2014
In Bds $’000
2014
2013
2012
2011
2010
Restated Restated
Restated
Statement of financial position:
Assets
Cash and cash equivalents
68,458
65,137
49,215
35,509
39,093
Investments and other short term deposits
79,855
73,991
71,556
56,603
53,890
Loans to Members (net)
825,149
774,615
749,729
712,623 545,488
Property and Equipment
30,009
27,263
26,553
28,194
27,419
Other
13,578
10,279
9,512
9,378
5,866
1,017,049
951,285
906,565
842,307 671,756
Liabilities
Deposits
839,052
772,320
735,909
673,773 556,123
Loans Payable
63,966
74,476
80,101
85,188
48,558
Other
17,428
17,335
14,448
15,626
4,354
920,446
864,131
830,458
774,587 609,035
Equity
Share Capital
8,240
7,760
7,394
7,037
6,634
Reserve Fund
81,891
71,540
62,954
56,885
48,321
Other Reserves
1,907
1,078
1,633
1,579
1,563
Retained Earnings
4,565
6,776
4,126
2,219
6,203
96,603
87,154
76,107
67,720
62,721
1,017,049
951,285
906,565
842,307 671,756
Statement of income:
Interest Income
77,904
73,962
71,555
63,285
53,124
Interest Expense
29,172
28,444
28,615
25,352
20,616
Net Interest Income
48,732
45,518
42,940
37,933
32,508
Other income
3,446
4,032
3,640
3,250
2,892
Net interest and other income
52,178
49,550
46,580
41,183
35,400
Loan impairment expense
4,699
4,890
3,993
5,593
3,624
Net operating income
47,479
44,660
42,587
35,590
31,776
Total expenses
36,132
31,534
33,163
29,538
22,732
Income before taxation
11,347
13,126
9,424
6,052
9,044
