Page 114 - RB GRENADA ANNUAL REPORT 2025_ONLINE

114 • Republic Bank (Grenada) Limited 2025 Annual Report • FINANCIALS

Notes to the Financial Statements

For the year ended September 30, 2025. Expressed in Thousands of Eastern Caribbean dollars ($’000), except where otherwise stated.

6 Premises and equipment (continued)

Capital commitments
2025 2024

Contracts for outstanding capital expenditure not provided for in the Financial statements 2,741 2,166

Other capital expenditure authorised by the Directors but not yet contracted for 2,677 8,932

Capital works in progress
Included in premises and equipment at September 30, 2025, and 2024 are projects at various stages of completion. These
projects mainly consist of building improvements, information technology implementations and upgrades.

7 Right-of-use assets and Lease liabilities
a Right-of-use assets

Leasehold premises
2025 2024

Cost
At beginning of year 6,704 6,250
Additions at cost 523 1,134
Disposal of assets (80) (680)

At end of year 7,147 6,704

Accumulated depreciation
At beginning of year 5,510 4,644
Disposal of assets – 110
Charge for the year – Note 15 (d) 708 756

At end of year 6,218 5,510

Net book value 929 1,194

Leasehold premises generally have lease terms between 1 and 15 years.