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BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED
NON-CONSOLIDATED ANNUAL REPORT 2014
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BARBADOS PUBLIC WORKERS' CO-OPERATIVE CREDIT UNION LIMITED
Notes to the Non-consolidated Financial Statements
For the year ended March 31, 2014
(Expressed in Barbados dollars)
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10. Loans and Advances
(i) Loans and advances are comprised of the following:
2014
Consumer
Business
Mortgages
Total
Performing loans
$ 448,716,071
2,570,533
204,932,538
656,219,142
Impaired loans
29,662,385
721,534
16,283,713
46,667,632
Gross loans
478,378,456
3,292,067
221,216,251
702,886,774
Less: provision for impairment
(16,754,196) (462,395) (4,118,331) (21,334,922)
$ 461,624,260
2,829,672
217,097,920
681,551,852
Add: interest receivable
2,779,627
$ 684,331,479
2013
Consumer
Business
Mortgages
Total
Performing loans
$ 421,904,226
2,571,706
193,677,060
618,152,992
Impaired loans
32,186,327
717,336
18,328,783
51,232,446
Gross loans
454,090,553
3,289,042
212,005,843
669,385,438
Less: provision for impairment
(17,068,869) (240,879) (2,306,874) (19,616,622)
$ 437,021,684
3,048,163
209,698,969
649,768,816
Add: interest receivable
2,099,134
$ 651,867,950
The average yield on loans for the year was 9.25% (2013 – 9.30%).