ECCB 2016/2017 Annual Report

70

ECCB ANNUAL REPORT 2016/2017

Eastern Caribbean Central Bank Statement of Profit or Loss For the year ended March 31, 2017 (expressed in Eastern Caribbean dollars)

EASTERN CARIBBEAN CENTRAL BANK STATEMENT OF PROFIT OR LOSS

For the year ended March 31, 2017

(expressed in Eastern Caribbean dollars)

Notes

2017 $

2016 $

25

56,254,935

Interest income

42,065,214

(581,671)

Interest expense

25

(161,353)

Net interest income

55,673,264

41,903,861

8,764,070

Commission income – foreign transactions

9,934,071

2,658,837

Commission income – other transactions

2,443,674

827,468

Gain on disposal of available-for-sale securities

8

3,314,912

153,917

Gains (losses) on foreign exchange

(1,060,461)

9,406,758

Other income

26

4,440,874

Operating income

77,484,314

60,976,931

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

Salaries, pensions and other staff benefits

27

28,652,765 10,746,467 2,032,661 4,724,840 25,912,079

Currency expenses Amortisation

14 15 28

Depreciation

Administrative and general expenses

Operating expenses

72,149,162

72,068,812

Operating profit (loss)

5,335,152

(11,091,881)

986,035

Share of profit of associates

13

1,077,879

(10,014,002)

Net profit (loss) for the year

6,321,187

The notes on pages 75 to 156 are an integral part of these financial statements.

The notes on pages 11 to 92 are an integral part of these financial statements.