Consolidated Annual Report 2015

BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED CONSOLIDATED ANNUAL REPORT 2015 44 BARBADOS PUBLIC WORKERS' CO-OPERATIVE CREDIT UNION LIMITED Notes to the Consolidated Financial Statements For the year ended March 31, 2015 (Expressed in Barbados dollars) 31 12. Loans and Advances…(continued) (ii) The movement in provision for impaired loans is as follows: 2015 Consumer Business Mortgages Total Balance, beginning of year $ 16,754,197 462,395 5,395,013 22,611,605 Amounts charged off (3,061,940) (82,101) (230,240) (3,374,281) Loan impairment expense 3,343,746 (85,818) 693,368 3,951,296 Balance, end of year 17,036,003 294,476 5,858,141 23,188,620 Individual impairment $ 13,079,751 221,696 4,504,692 17,806,139 Collective impairment 3,956,252 72,780 1,353,449 5,382,481 $ 17,036,003 294,476 5,858,141 23,188,620 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