ECCB 2022-2023 Annual Report and Financial Statements

Eastern Caribbean Central Bank Statement of Profit or Loss

For the year ended 31 March 2023 (Expressed in Eastern Caribbean dollars)

Notes

2022 $

2023 $

40,417,716

90,053,738

26

Interest income

(164,949)

(1,610,296)

26

Interest expense

40,252,767

88,443,442

Net interest income

6,662,083

9,414,149

Commission income – foreign transactions

4,026,103

5,316,992

Commission income – other transactions

Net losses on sale of foreign investment securities at fair value through other comprehensive income (FVOCI)

9

(3,063,789)

(35,247,720)

Net losses on foreign investment securities at fair value through profit or loss (FVTPL) 27

(25,532,215)

(44,115,415)

7,055,015

4,566,773

28

Other income

29,399,964

Operating income

28,378,221

39,363,057 4,086,625

39,024,868 3,472,368

29

Salaries, pensions and other staff benefits

Currency expenses

900,176

957,798

14

Amortisation Depreciation

6,064,033 24,189,271 6,475,644

7,097,894 31,836,379 1,194,873

15, 16

31 30

Administrative and general expenses Net impairment losses on financial assets

81,078,806

83,584,180

Operating expenses

(51,678,842)

(55,205,959)

Operating loss for the year

2,579,828

685,160

13

Share of net profit of associates

(49,099,014)

(54,520,799)

Net loss for the year

The notes on pages 8 to 119 are an integral part of these financial statements.

2