105
2014 ANNUAL REPORT
23 Fair value
(continued)
23.2 Fair value and fair value hierarchies
(continued)
23.2.3 Reconciliation of movements in Level 3 financial instruments measured at fair value
Balance at
Exchange
Additions
Disposals
Balance at
beginning
adjustments
/Transfers
end of year
of year
to Level 2
Financial assets
designated at fair value
through profit or loss
1,200
–
–
(1,200)
–
Financial investments -
available-for-sale
65,965
–
–
(57,140)
8,825
67,165
–
–
(58,340)
8,825
24 Segmental information
The Group is organised into two main business segments: retail and commercial banking and investment banking. The Group’s primary reporting
format comprises geographical segments reflecting its management structure and the secondary segment is by class of business. The following
is an analysis by respective segments:
i)
By geographic segment
Trinidad and
Barbados
Cayman,
Eliminations
Total
Tobago
Guyana and
Eastern
Caribbean
2014
Interest income
1,740,286
429,351
406,435
(54,926)
2,521,146
Interest expense
(168,955)
(129,357)
(59,708)
54,926
(303,094)
Net interest income
1,571,331
299,994
346,727
–
2,218,052
Other income
1,325,292
155,839
149,934
(144,083)
1,486,982
Share of profits of associates
49,135
–
–
–
49,135
Operating income
2,945,758
455,833
496,661
(144,083)
3,754,169
Goodwill impairment expense
(185,000)
–
–
–
(185,000)
Other operating expenses
(1,332,902)
(320,807)
(233,859)
11,072
(1,876,496)
Operating profit
1,427,856
135,026
262,802
(133,011)
1,692,673
Investment impairment expense
(241)
(4,302)
449
–
(4,094)
Loan impairment expense,
net of recoveries
(30,543)
(46,682)
(42,658)
–
(119,883)
Net profit before taxation
1,397,072
84,042
220,593
(133,011)
1,568,696
Taxation
(286,199)
(12,197)
(40,584)
–
(338,980)
Net profit after taxation
1,110,873
71,845
180,009
(133,011)
1,229,716
