(2021-04) BRH audited financial statements, FY2020 (year ended 30 September 2020)

This is the independent auditors' report and full audited financial statements of the Banque de la Republique d'Haiti (BRH) for the fiscal year ended 30 September 2020, jointly signed by KPMG S.A. (Paris La Defense) and Cabinet Merove-Pierre (Port-au-Prince) on 19 April 2021. The auditors give an unqualified opinion that the financial statements were prepared, in all material respects, in accordance with the accounting framework set by the BRH's 17 August 1979 organic law, noting the accounts were closed by the Governor on 16 April 2021 in the evolving context of the Covid-19 health crisis. The package (51 pages) covers the balance sheet, income statement, statement of changes in equity for FY2020 and FY2019, statement of cash flows, and 29 notes on accounting policies, risk management, and each major balance-sheet and income-statement line. Headline figures (in thousands of Haitian gourdes, HTG'000): total assets grew to 356,793,997 at 30 September 2020 from 351,791,739 a year earlier, driven by a rise in loans and advances to the Government and local authorities (from 113,183,651 to 143,622,485) even as foreign-currency holdings fell (from 184,579,948 to 154,478,561). Total liabilities rose to 340,277,883 from 324,684,567, while capital and reserves fell sharply to 16,516,114 from 27,107,172, largely reflecting an actuarial revaluation loss on post-employment retirement obligations of 5,101,275 (net of related reserve movements) and an exchange-revaluation charge of 8,080,775 recorded directly in equity. Net income for the year was 1,859,763, up from 255,812 in FY2019, on net interest income of 7,031,333 and a gain on sale of securities of 3,500,141.

Cover/title page shows fiscal year-end (30 septembre 2020); publication month prefix uses the auditors' report signature date (19 avril 2021) since that is when the document was issued.