ECCB 2014-2015 Annual Report and Statement of Accounts

EASTERN CARIBBEAN CENTRAL BANK

OECS/ECCB Under-23 Netball Tournament In 2014 the ECCB collaborated with the OECS Commission and the Saint Lucia Netball Association to host the 24 th OECS/ECCB Under 23 Netball Tournament in Saint Lucia from 27 June to 3 July. The ECCB has been the official sponsor of the tournament since 1991, exhibiting its commitment to the physical and social development of the region’s young women and its strong belief in regional integration. Team Saint Lucia captured the winning trophy, snatching it from team St Vincent and the Grenadines which had won 14 times since the tournament was launched in 1991. The other teams which competed for the championship trophy were: Antigua and Barbuda, The Commonwealth of Dominica, Grenada, Montserrat and St Kitts and Nevis.

THE BANK’S FINANCES

F inancial O bjectives Consolidated Statement of Financial Position As at 31 March 2015 the Bank’s Total Assets stood at $4,346.3 million, an increase of $448.9 million (11.52 per cent) when compared to the position last year. Foreign Assets increased by $441.3 million (12.58 per cent) due to inflows of grants and loans to member governments from international institutions and the purchase of foreign and regional currency notes from commercial banks. The reinvestment of income on foreign assets and gains on the sale of foreign securities held within the ECCB’s foreign reserve portfolio also contributed to the increase. Chart V shows the trend in the Bank’s total assets from 2010 to 2015.

Chart V

Team Saint Lucia, 2015 OECS/ECCB Under 23 Netball Champs pose with the Honourable Shawn Edward, Minister for Youth Development and Sports

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ECCB ANNUAL REPORT 2014/2015