ECCB 2014-2015 Annual Report and Statement of Accounts

EASTERN CARIBBEAN CENTRAL BANK

Eastern Caribbean Central Bank Notes to Consolidated Financial Statements March 31, 2015 Eastern Caribbea Central Bank Notes to Consolidated Financial Statements March 31, 2015 E stern Caribbean Central Bank Notes to Consolidated Financial Statements March 31, 2015

(expressed in Eastern Caribbean dollars) (expressed in Eastern Caribbean dollars) (express d in Ea tern Caribbean dolla s) NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (expressed in Eastern Caribbean dollars) March 31, 2015 13. Investments in associated undertakings using the equity method … continued 13. Investments in associated undertakings using the equity method … continued 13. Investments in associated undertakings using the equity method … continued t ts i i t t i s i t i ti 13.

2015 $ 2015 $ 2015 $ 20,010 20,010 20,010 20,010 20,010 20,010 – – –

2014 $ 2014 $ 2014 $ 10 10 20,000 20,000 1 20,000 20,010 20,010 20,010

OECS Distribution and Transportation Company (ODTC) Balance at beginning of year OECS Distribution and Transportation Company (ODTC) Balance at beginning of year OECS Distribution and Transportation Company (ODTC) Balance at beginning of year Purchase during the year Purchase during the year Purchase during the year Balance at end of year Balance at end of year Balance at end of year Total investments in associated undertakings Total investments in associated undertakings Total investments in associated undertakings

15,471,257 15,471,257 15,471,257 15,471,257

14,911,744 14,911,744 14,911,744

Non-current 14,911,744 The total share of profit of associates recognised in the consolidated statement of loss was $1,227,633 (2014: $1,231,878). The Bank’s interest in its principal associates, both of which are unlisted, is as follows as of March 31, 2015: Non-current 15,471,257 14,911,744 The total share of profit of associates recognised in the consolidated statement of loss was $1,227,633 (2014: $1,231,878). The Bank’s interest in its principal associates, both of which are unlisted, is as follows as of March 31, 2015: Non-current 15,471,257 14,911,744 The total share of profit of associates recognised in the consolidated statement of loss was $1,227,633 (2014: $1,231,878). The Bank’s interest in its principal associates, both of which are unlisted, is as follows as of March 31, 2015: The total share of profit of associates recognised in the consolidated state ent of loss was $1,227,633 (2014: $1,231,878). The Bank’s interest in its principal associates, both of which are unlisted, is as follows as of March 31, 2015:

% Interest held % % Interest held % % Interest held % 24.8

Assets $ Assets $ Assets $ Liabilities $ Liabilities $ Liabilities $ (25,234,355) 258,936,355 (201,310,782) 258,936,355 (201,310,782) 258,936,355 (201,310,782) 31,118,446

Revenues $ 15,462,213 3,646,126 Revenues $ 15,462,213 3,646,126 Revenues $ 15,462,213 3,646,126 Revenues $ Revenues $ Revenues $ 20,690,064 2,908,324 20,690,06 2,908,324 20,690,064 2,908,324

Profit $ Profit $ Profit $ 3,459,812 1,224,259 3,459,812 1,224,259 3,459,812 1,224,259 Profit $ Profit $ Profit $ 4,361,985 4,361,985 4,361,985 487,356 487,356 487,356

Entity

ECHMB ntity E HMB Entity ECHMB

24.

ECSE 30.8 The Bank’s interest in its principal associates, both of which are unlisted, is as follows as of March 31, 2014: ECSE 31,118,446 (25,234,355) 30.8 The Bank’s interest in its principal associates, both of which are unlisted, is as follows as of March 31, 2014: 24.8 ECSE 31,118,446 (25,234,355) 30.8 The Bank’s interest in its principal associates, both of which are unlisted, is as follows as of March 31, 2014: T ’s i t r st i its principal associates, both of which are unlisted, is as follows as of March 31, 2014:

% Interest held % % Interest held % % Inter st held %

Assets $ Assets $ Assets $

Liabilities $ Liabilities $ Liabilities $

Entity Entity ntity ECHMB E HMB ECHMB ECSE ECSE ECSE

328,711,678 (271,858,464) 3 8,711,678 (271,858,464 328,711,678 (271,858,464) 26,948,440 26,948,440 26,948,440 (22,566,873) (22,566,873) (22,566,873)

24.8 30.8 24. 30.8 24.8 30.8

The Bank’s interest has been determined on the basis of the financial statements for these entities for the years ended March 31, 2015 (unaudited) and 2014 (unaudited). The Bank’s interest has been determined on the basis of the financial statements for these entities for the years ended March 31, 2015 (unaudited) and 2014 (unaudited). The Ba k’s inte est has been determined o the basis of the financial statements for these entities for the years ended March 31, 2015 (unaudited) and 2014 (unaudited). T t s t mined the i f t e fi a i l t t t t titi f r t years ended March 31, 2015 (unaudited) and 2014 (unaudited).

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ECCB ANNUAL REPORT 2014/2015

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