BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED
CONSOLIDATED ANNUAL REPORT 2016
8
CONSOLIDATED FINANCIAL HIGHLIGHTS
FOR THE YEARS ENDED MARCH 31, 2012 TO MARCH 31, 2016
In Bds $’000
2016
2015
2014
2013
2012
Statement of financial position:
Assets
Cash and equivalents
73,065
56,129
72,274
65,137
49,215
Investments and other short term deposits
90,309
83,628
76,039
73,991
71,556
Loans to Members (net)
1,001,430
906,060
825,149
774,615 749,729
Property and Equipment
31,712
30,060
30,009
27,263
26,553
Other
19,582
14,801
13,578
10,279
9,512
1,216,098 1,090,678 1,017,049
951,285 906,565
Liabilities
Deposits
1,037,172
915,312
839,052
772,320 735,909
Loans Payable
41,011
52,035
63,966
74,476
80,101
Other
20,619
17,883
17,428
17,335
14,448
1,098,802
985,230
920,446
864,131 830,458
Equity
Share Capital
9,407
8,764
8,240
7,760
7,394
Reserve Fund
97,658
89,804
81,891
71,540
62,954
Other Reserves
4,412
2,773
1,907
1,078
1,633
Retained earnings
5,819
4,107
4,565
6,776
4,126
117,296
105,448
96,603
87,154
76,107
1,216,098 1,090,678 1,017,049
951,285 906,565
Statement of income:
Interest Income
89,462
80,930
77,904
73,962
71,555
Interest Expense
32,978
31,176
29,172
28,444
28,615
Net Interest Income
56,484
49,754
48,732
45,518
42,940
Other income
5,021
3,730
3,446
4,032
3,640
Net income and other income
61,505
53,484
52,178
49,550
46,580
Loan impairment expense
4,246
3,951
4,699
4,890
3,993
Net operating income
57,259
49,533
47,479
44,660
42,587
Total operating expenses
41,481
38,151
36,132
31,534
33,163
Net income before taxes
15,778
11,382
11,347
13,126
9,424
Asset Tax
2,327
1,604
Corporation tax
269
136
220
321
177
Net income after taxes
13,182
9,642
11,127
12,805
9,247
