ECCB 2022-2023 Annual Report and Financial Statements

Eastern Caribbean Central Bank Notes to the Financial Statements For the year ended 31 March 2023 (Expressed in Eastern Caribbean dollars)

13. Investments in associated undertakings using the equity method (continued)

The Bank’s investments in associates are detailed below:

2023 $

2022 $

Eastern Caribbean Home Mortgage Bank (ECHMB)

Balance at beginning of year Share of profit for the year Dividend received in year

20,551,891 1,887,701

21,938,502

428,478

(501,090)

(334,060)

21,938,502

Balance at end of year

22,032,920

Eastern Caribbean Securities Exchange (ECSE)

Balance at beginning of year Share of profit for the year

4,287,080

4,733,643

692,127

256,682

Dividend received during the year

(245,564)

(278,306)

4,733,643

Balance at end of year

4,712,019

OECS Distribution and Transportation Company (ODTC) Balance at beginning and end of year

20,010

20,010

26,692,155

Total investments in associated undertakings

26,764,949

26,692,155

Non-current

26,764,949

The total share of profit of associates recognised in the statement of profit or loss was $685,160 (2022: $2,579,828).

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