ECCB 2017-2018 Annual Report and Statement of Accounts

73

ECCB ANNUAL REPORT 2017/2018

(expressed in Eastern Caribbean dollars) For the year ended March 31, 2018 (expressed in Eastern Caribbean dollars) Eastern Caribbean Central Bank Statement of Profit or Loss

EASTERN CARIBBEAN CENTRAL BANK STATEMENT OF PROFIT OR LOSS

For the year ended March 31, 2018

Notes

2018 $

2017 $

73,214,304

25

Interest income

56,254,935

(2,538,217)

25

(581,671)

Interest expense

Net interest income

70,676,087

55,673,264

10,127,117

8,764,070

Commission income – foreign transactions

2,878,988

Commission income – other transactions

2,658,837

(6,258,867)

8

(Loss) gain on disposal of available-for-sale securities

827,468

445,252

153,917

Gains on foreign exchange

6,085,848

26

Other income

9,406,758

Operating income

83,954,425

77,484,314

30,301,359 7,926,068 1,270,631 5,080,073 30,049,518

27

Salaries, pensions and other staff benefits

29,773,185 7,787,361 1,531,044 4,918,712 28,138,860

Currency expenses Amortisation

14 15 28

Depreciation

Administrative and general expenses

Operating expenses

74,627,649

72,149,162

Operating profit

9,326,776

5,335,152

13

1,438,502

986,035

Share of profit of associates

Net profit for the year

10,765,278

6,321,187

The notes on pages 78 to 162 are an integral part of these financial statements.

The notes on pages 11 to 95 are an integral part of these financial statements.