84 / 174
70
ECCB ANNUAL REPORT 2016/2017
EASTERN CARIBBEAN CENTRAL BANK
The notes on pages 75 to 156 are an integral part of these financial statements.
Eastern Caribbean Central Bank
Statement of Profit or Loss
For the year ended March 31, 2017
(expressed in Eastern Caribbean dollars)
Notes
2017
$
2016
$
Interest income
25
56,254,935
42,065,214
Interest expense
25
(581,671)
(161,353)
Net interest income
55,673,264
41,903,861
Commission income
–
foreign transactions
8,764,070
9,934,071
Commission income
–
other transactions
2,658,837
2,443,674
Gain on disposal of available-for-sale securities
8
827,468
3,314,912
Gains (losses) on foreign exchange
153,917
(1,060,461)
Other income
26
9,406,758
4,440,874
Operating income
77,484,314
60,976,931
Salaries, pensions and other staff benefits
27
29,773,185
28,652,765
Currency expenses
7,787,361
10,746,467
Amortisation
14
1,531,044
2,032,661
Depreciation
15
4,918,712
4,724,840
Administrative and general expenses
28
28,138,860
25,912,079
Operating expenses
72,149,162
72,068,812
Operating profit (loss)
5,335,152
(11,091,881)
Share of profit of associates
13
986,035
1,077,879
Net profit (loss) for the year
6,321,187
(10,014,002)
The notes on pages 11 to 92 are an integral part of these financial statements.
STATEMENT OF PROFIT OR LOSS
(expressed in Eastern Caribbean dollars)
For the year ended March 31, 2017