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Notes to the Financial Statements

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

7 Right-of-use assets and Lease liabilities (continued)

b Lease liabilities

2025 Current Non-current Total

At beginning of year 37 1,181 1,218
Additions at cost 33 490 523
Accretion of interest expense – Note 15 (b) 2 58 60
Less: Principal payments (72) (683) (755)
Disposals – (88) (88)

At end of year – 958 958

2024

At beginning of year 50 1,746 1,796
Additions at cost 54 1,080 1,134
Accretion of interest expense – Note 15 (b) 5 98 103
Less: Principal payments (72) (964) (1,036)
Disposals – (779) (779)

At end of year 37 1,181 1,218

The maturity analysis of lease liabilities are disclosed in Note 22 which is already contained in the liquidity risk Note
18.3.1.

Payments
Total rental payments of $755 for fiscal 2025 is fixed (2024: $1,036)

The Bank has several lease contracts that include extension and termination options. These options are negotiated by
management to provide flexibility in managing the leased-asset portfolio and align with the Bank’s business needs.
Management exercises significant judgement in determining whether these extension and termination options are
reasonably certain to be exercised.

8 Intangible assets

2025 2024

a Goodwill 54,412 54,412
b Core deposits 1,477 2,093

55,889 56,505