Page 72 - RB GRENADA ANNUAL REPORT 2025_ONLINE

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

Table of Contents

Management’s responsibility for financial reporting 73 s Foreign currency translation 102
Independent Auditor’s report 74 t Intangible assets 102
Statement of financial position 77 u Revenue recognition 102
Statement of income 78
v Fair value 103
Statement of comprehensive income 79
w Customers’ liabilities under acceptances,
Statement of changes in equity 80 guarantees, indemnities and letters
of credit 105
Statement of cash flows 81
x Equity reserves 105
Notes to the financial statements 83
1 Corporate information 83 3 Significant accounting judgments, estimates
and assumptions 106
2 Material accounting policies 83
4 Advances 108
2.1 Basis of preparation 83
5 Investment securities 111
2.2 Changes in accounting policies 83
6 Premises and equipment 113
2.3 Standards in issue not yet effective 85
7 Right-of-use assets and lease liabilities 114
2.4 Improvements to International Financial
Reporting Standards 89 8 Intangible assets 115

2.5 Summary of material accounting policies 89 9 Employee benefits/obligations 117
a Cash and cash equivalents 89 10 Deferred tax assets and liabilities 122

b Statutory deposits with Central Bank 89 11 Other assets 123
c Financial instruments – initial recognition 90 12 Customers’ current, savings and deposit
accounts 123
d Financial assets and liabilities 90
13 Other liabilities 123
e Reclassification of financial assets
and liabilities 92 14 Stated capital 123

f Derecognition of financial assets 15 Operating profit 124
and liabilities 92
16 Credit loss (expense)/recovery on financial assets 125
g Impairment of financial assets 93
17 Taxation expense 125
h Collateral valuation 97
18 Risk management 126
i Collateral repossessed 97
19 Related parties 140
j Write-offs 97
20 Capital management 141
k Leases 97
21 Fair value 141
l Premises and equipment 98
22 Maturity analysis of assets and liabilities 144
m Impairment of non-financial assets 99
23 Dividends paid and proposed 145
n Business combinations and goodwill 99
24 Contingent liabilities, commitments and leasing
o Employee benefits/obligations 100 arrangements 146
p Taxation 101 25 Segmental information 146

q Statutory reserve 101 26 Comparatives 146
r Earnings per share 102