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 interest in its principal associates, both of which are unlisted, is as follows as of 31 March 2023:

% Interest held %

Assets $

Liabilities $

Revenues $

Profit $

Entity

480,806,060

(423,207,918)

4,944,177

1,727,733

24.80

ECHMB

78,454,785

(62,796,400)

5,272,850

784,000

32.74

ECSE

The Bank’s interest in its principal associates, both of which are unlisted, is as follows as of 31 March 2022:

% Interest held %

Assets $

Liabilities $

Revenues $

Profit $

Entity

517,742,565

(458,033,996)

10,063,470

7,591,693

24.80

ECHMB

74,414,335

(58,984,059)

5,485,727

1,762,969

32.74

ECSE

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 financial statements is after the scheduled date for finalization of the ECCB’s accounts. The 2022 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 31 March 2022.

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