Consolidated Annual Report 2014

BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED ANNUAL REPORT 2014 47 BARBADOS PUBLIC WORKERS' CO-OPERATIVE CREDIT UNION LIMITED Notes to the Consolidated Financial Statements For the year ended March 31, 2014 (Expressed in Barbados dollars) 33 11. Loans and Advances…(continued) (ii) The movement in provision for impaired loans is as follows: 2014 Consumer Business Mortgages Total Balance, beginning of year $ 17,068,869 240,879 3,293,557 20,603,305 Amounts charged off (2,626,995) (64,034) - (2,691,029) Loan impairment expense 2,312,323 285,550 2,101,456 4,699,329 Balance, end of year 16,754,197 462,395 5,395,013 22,611,605 Individual impairment $ 12,894,657 347,027 4,101,232 17,342,916 Collective impairment 3,859,540 115,368 1,293,781 5,268,689 $ 16,754,197 462,395 5,395,013 22,611,605 2013 Consumer Business Mortgages Total Balance, beginning of year $ 14,345,425 235,977 2,945,593 17,526,995 Amounts charged off (1,797,104) (16,588) - (1,813,692) Loan impairment expense 4,520,548 21,490 347,964 4,890,002 Balance, end of year 17,068,869 240,879 3,293,557 20,603,305 Individual impairment 13,252,446 215,408 2,553,198 16,021,052 Collective impairment 3,816,423 25,471 740,359 4,582,253 $ 17,068,869 240,879 3,293,557 20,603,305