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Annual Report 2019: Antigua and Barbuda Financial Services Commission
The Antigua and Barbuda Financial Services Commission (AFSC) released its Annual Report for 2019, providing an overview of the organization’s financial performance indicators, revenue, expenses, and assets for the year ended December 31, 2019.
Key Performance Indicators
Here are some key points highlighted in the report:
- Net Income: The AFSC reported a net income of US$74,969 for 2019, representing a 52% decrease from the previous year’s net income of US$156,657.
- Reserves: Accumulated reserves increased by 2.5% to US$3,021,071 as at December 31, 2019, from US$2,946,101 as at December 31, 2018.
- Assets and Liabilities: Total assets were US$5,893,436 (a 7.4% increase from 2018), while total liabilities increased to US$2,872,365 (a 12.6% increase from 2018).
- Revenue: Total revenue decreased by 7.5% or US$91,282 to US$1,132,177 in 2019.
- Expenses: Total expenses decreased by 0.86% or US$9,219 to US$1,057,583 in 2019.
Analysis and Observations
The report highlights the decrease in net income and revenue, as well as changes in expenses and reserves. The AFSC notes that some increases were due to specific factors such as the hiring of a consultant for regulatory matters and travel-related costs.
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