ECCB 2015/2016 Annual Report

Eastern Caribbean Central Bank Notes to Financial Statements March 31, 2016 (expressed in Eastern Caribbean dollars) l t t i i l t t ts , ( r ss i st r aribbean dollars) an ll ) EASTERN CARIBBEAN CENTRAL BANK (expressed in Eastern Caribbean dollars)

NOTES TO FINANCIAL STATEMENTS

March 31, 2016

13. Investments in associated undertakings using the equity method … continued . I st ts i ss ci te erta ings using the equity method continued i i t it t tin Investments in associated undertakings using the equity method … continued

13.

2016 $

2015 $

2016 $

2015 $

OECS Distribution and Transportation Company (ODTC) Balance at beginning of year istri tio a d ransportation o pany ( T ) alance at beginning of year t ti ( )

20,010

20,010

20,010 ,

20,010 ,

Purchase during the year Balance at end of year urchase during the year ala ce at end of year

–

–

–

–

20,010

20,010

20,010 ,

20,010 ,

Total investments in associated undertakings otal invest ents in associated undertakings i i t t i

16,048,046 16,048,046 , , 16,048,046

15,471,257 15,471,257 , ,

Non-current 15,471,257 The total share of profit of associates recognised in the statement of income or loss was $1,077,879 (2015: $1,227,633). The Bank’s interest in its principal associates, both of which are unlisted, is as follows as of March 31, 2016: on-current 16,048,046 15,471,257 he total share of profit of associates recognised in the statement of income or loss was $1,077,879 (2015: $1,227,633). The ank’s interest in its principal associates, both of which are unlisted, is as follows as of March 31, 2016: , , , , t l r fit f i t r i i t e state ent of inco e or los as $1, , 7 : , , ). i t r t i it ri i l i t , t f ic r u liste , is a fol f rc , : The total share of profit of associates recognised in the statement of income or loss was $1,077,879 (2015: $1,227,633). The Bank’s interest in its principal associates, both of which are unlisted, is as follows as of March 31, 2016:

% Interest held % Interest held % te t l %

Assets $ Assets $ t

Liabilities $ Liabilities $ i iliti

Revenues $ Revenues $ $

Profit $ fit

Profit $

Entity Entity tit

ECHMB EC B

247,817,342 (189,703,739) 12,464,009 247,817,342 (189,703,739) 12,464,009 , , ( , , ) 1 ,4 ,009

2,504,641 1,482,883 2,504,641 1,482,883 2,504,641 , ,

24.8 24.8

24.8

ECSE 30.8 The Bank’s interest in its principal associates, both of which are unlisted, is as follows as of March 31, 2015: ECSE 48,405,423 (41,038,447) 4,232,161 30.8 The Bank’s interest in its principal associates, both of which are unlisted, is as follows as of March 31, 2015: , , ( , ,4 ) 4,2 ,1 . ’ i t r t i it ri i l i t , b t of ic ar u liste , is foll f rc , : The Bank’s interest in its principal associates, both of which are unlisted, is as follows as of March 31, 2015: 48,405,423 (41,038,447) 4,232,161

% Interest held % % Interest held % te t l %

Assets $ Assets $ ss t

Liabilities $ Liabilities $ i iliti

Revenues $ Revenues $ $

Profit $ fit $

Profit $

Entity Entity tit

3,458,819 1,224,259 3,458,819 1,224,259 , , , ,

ECHMB ECH B

257,814,842 (200,190,262) 15,494,813 257,814,842 (200,190,262) 15,494,813 , , ( , , 62) 1 ,4 ,8

24.8 30.8 . .

24.8 30.8

ECSE ECSE

31,118,446 31,118,446 , ,

(25,234,354) 3,646,125 (25,234,354) 3,646,125 ( , ,3 ) 3,6 ,1

The Bank’s interest has been determined on the basis of the unaudited financial statements for these entities as the timing for receipt of the audited numbers is after the scheduled date for finalization of the ECCB’s accounts. The 2015 comparatives represent audited financial results for these entities, which were not materially different to the unaudited amounts used in the preparation of the Bank’s financial statements for the year ended March 31, 2015. The Bank’s interest has been determined on the basis of the unaudited financial statements for these entities as the timing for receipt of the audited numbers is after the scheduled date for finalization of the ECCB’s accounts. The 2015 comparatives represent audited financial results for these entities, which were not aterially different to the unaudited amounts used in the preparation of the Bank’s financial state ents for the year ended arch 31, 2015. T B ’ i t r t t r i t i f t it fi i l t t t f r t entities as the timing for receipt of the audited numb r i after t l t f r fi li ti f t ’s accounts. r ti r r t it fin ial r lts for the titi , i r t t ri ll iff r t t t it ts in th r r tio of t B ’s fi i l ta t r r , 2 . The Bank’s interest has been determined on the basis of the unaudited financial statements for these e tities as the ti i f r recei t f t e a ite ers is after the scheduled date for finalization of the . inancial results f t e i i i t t t it t r r ti f th ’ fin i l , 2015.

104

68 68

68

ECCB A nnual R eport 2015/2016