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BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED
NON-CONSOLIDATED ANNUAL REPORT 2014
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)
25
10. Loans and Advances…(continued)
(ii) The movement in the provision for impaired loans is as follows:
2014
Consumer
Business
Mortgages
Total
Balance, beginning of year
$ 17,068,869
240,879
2,306,874
19,616,622
Amounts charged off
(2,626,995)
(64,034)
-
(2,691,029)
Loan impairment expense
2,312,322
285,550
1,811,457
4,409,329
Balance, end of year
$ 16,754,196
462,395
4,118,331
21,334,922
Individual impairment
$ 12,894,657
347,027
3,014,549
16,256,233
Collective impairment
3,859,539
115,368
1,103,782
5,078,689
$ 16,754,196
462,395
4,118,331
21,334,922
2013
Consumer
Business
Mortgages
Total
Balance, beginning of year
$ 14,345,425
235,977
2,058,910
16,640,312
Amounts charged off
(1,797,104)
(16,588)
-
(1,813,692)
Loan impairment expense
4,520,548
21,490
247,964
4,790,002
Balance, end of year
$ 17,068,869
240,879
2,306,874
19,616,622
Individual impairment
$ 13,252,446
215,408
1,711,515
15,179,369
Collective impairment
3,816,423
25,471
595,359
4,437,253
$ 17,068,869
240,879
2,306,874
19,616,622