BCB Holdings Ltd Annual Financial Report (7622A)
September 30 2015 - 8:07AM
UK Regulatory
TIDMBCB
RNS Number : 7622A
BCB Holdings Ltd
30 September 2015
BCB Holdings Limited announces posting of annual report and
accounts
Belize City, Belize, September 30, 2015 -- BCB Holdings Limited
(London - AIM: BCB; Bermuda - BBHL) (the "Company") announces that
the annual report and accounts for the year ended 31 March 2015 are
now available to view on the Company's website, www.bcbholdings.com
and are today being posted to shareholders.
BCB Holdings
UK +44 (0)20 7248 6700
Belize +501 227 7178
Cenkos Securities (Nominated Adviser)
Nicholas Wells +44 (0)20 7397 8900
Note: This and other press releases are available at the
Company's web site: http://www.bcbholdings.com
BCB Holdings Limited
Financial Information
Consolidated statements of comprehensive loss (in US
dollars)
2015 2014
Year ended March 31 $m $m
Financial Services
Interest income 40.4 41.3
Interest expense (8.7) (10.7)
Net interest income 31.7 30.6
Provision for loan losses (17.8) (19.8)
13.9 10.8
Non-interest income 16.0 16.3
Non-interest expense (24.4) (22.6)
Operating loss before non-recurring
loss 5.5 4.5
Non-recurring net loss (14.5) (6.8)
Operating loss - Financial Services (9.0) (2.3)
Corporate
Corporate income 1.2 1.3
Corporate expenses (4.8) (6.0)
Operating loss - Corporate (3.6) (4.7)
Net loss before tax (12.6) (7.0)
Taxation (4.6) (5.0)
Net loss after tax and before other
comprehensive income (17.2) (12.0)
Other comprehensive income:
Unrealized gains on securities 0.6 0.3
Comprehensive loss (16.6) (11.7)
Loss per ordinary share (basic and
diluted) $(0.17) $(0.12)
Consolidated balance sheets (in US dollars)
2015 2014
At March 31 $m $m
Assets
Financial Services
Cash, cash equivalents and due from
banks 183.6 170.5
Interest-bearing deposits with correspondent
banks 55.9 54.3
Investment securities 46.2 37.3
Government of Belize securities - 20.0
Loans - net 320.5 326.2
Property, plant and equipment - net 16.4 17.2
Government of Belize receivable 18.0 24.6
Other assets 8.2 31.2
Total Financial Services assets 648.8 681.3
Corporate
Cash and cash equivalents - 4.0
Property, plant and equipment - net 0.1 0.1
Other current assets 6.1 3.8
Total assets 655.0 689.2
Liabilities and shareholders' equity
Financial Services
Deposits 577.3 593.1
Interest payable 3.7 4.3
Other liabilities 8.2 8.5
Total Financial Services liabilities 589.2 605.9
Corporate
Current liabilities 8.1 9.0
Total liabilities 597.3 614.9
Shareholders' equity:
Share capital (ordinary shares of
no par value -
2015 and 2014 -103,642,984) 0.6 0.6
Additional paid-in capital 52.8 52.8
Treasury shares (21.7) (21.7)
Retained earnings 26.0 42.6
Total shareholders' equity 57.7 74.3
Total liabilities and shareholders'
equity 655.0 689.2
Consolidated statements of cash flows (in US dollars)
2015 2014
Year ended March 31 $m $m
Cash flows from operating activities
Net loss from operations (17.2) (12.0)
Adjustments to reconcile net loss to
net cash
provided by operating activities:
Depreciation 2.2 1.7
Provision for loan losses 17.8 19.8
Changes in assets and liabilities:
Decrease in interest payable (0.6) (0.8)
Decrease (increase) in Government of
Belize receivable 6.6 (3.7)
Decrease in other and current assets 20.7 5.2
Decrease in other and current liabilities (1.2) (1.1)
Net cash provided by operating activities 28.3 9.1
Cash flows from investing activities
Purchase of property, plant and equipment
(net of disposals) (1.4) (3.1)
Increase in interest-bearing deposits
with correspondent banks (1.6) (36.7)
(Increase) decrease in investment securities (8.9) 44.5
Decrease in Government of Belize securities 20.0 11.0
(Increase) decrease in loans (net of
charge-offs) to customers (12.1) 4.7
Net cash (utilized) provided by investing
activities (4.0) 20.4
Cash flows from financing activities
(Decrease) increase in deposits (15.8) 12.2
Unrealized gains on securities 0.6 0.3
Net cash (utilized) provided by financing
activities (15.2) 12.5
Net change in cash, cash equivalents
and due from banks 9.1 42.0
Cash, cash equivalents and due from
banks at beginning of year 174.5 132.5
Cash, cash equivalents and due from
banks at end of year 183.6 174.5
Cash - financial services 183.6 170.5
Cash - corporate - 4.0
183.6 174.5
This information is provided by RNS
The company news service from the London Stock Exchange
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