ECCB 2023-2024 Annual Report

EASTERN CARIBBEAN CENTRAL BANK ANNUAL REPORT 2023 - 2024

S tatement of F inancial P osition The Bank’s total assets amounted to $5,783.8 million as of 31 March 2024, representing a decline of $153.7 million (2.6 per cent) compared to the previous financial year. The reduction in the asset base was attributable to the decline in foreign and domestic assets. Foreign assets fell by $49.9 million (0.9 per cent) to $5,222.5 million, primarily due to the net sale of foreign currency balances to commercial banks. The reduction in foreign assets was partially offset by fair value gains on foreign investment securities, inflows from loans issued to member governments by international institutions and the purchase of foreign and regional currencies from commercial banks.

to decreases in participating governments’ advances, participating governments’ securities and investments in associated undertakings moderated by increases in property and equipment and pension asset. Participating governments’ advances and participating governments’ securities fell by $90.3 million and $12.3 million, respectively, due to the repayment of credit facilities by participating governments. Investments in associated undertakings decreased by $13.9 million, attributable to the recognition of the Bank’s share of other comprehensive loss of associates, partly offset by share of profit of associates. Property and equipment increased by $10.8 million, directly attributable to the acquisition of fixed assets. Pension asset rose by $4.4 million, owing to actuarial gains from higher than projected returns on the pension plan’s assets.

Domestic assets declined by $103.8 million (15.6 per cent) to $561.3 million, attributable

CHART V - Total Assets ($ Millions)

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