Consolidated Annual Report 2019

BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | CONSOLIDATED ANNUAL REPORT 2019 55 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Notes to the Consolidated Financial Statements For the year ended March 31, 2019 (Expressed in Barbados dollars) 40 13. Loans and Advances, continued 2018 Consumer Business Mortgages Total Performing loans $ 652,183,378 24,465,843 436,391,422 1,113,040,643 Non-performing loans 51,743,242 1,883,948 26,910,251 80,537,441 Gross loans 703,926,620 26,349,791 463,301,673 1,193,578,084 Less: provision for impairment (21,126,237) (161,360) (5,431,408) (26,719,005) $ 682,800,383 26,188,431 457,870,265 1,166,859,079 Add: interest receivable 7,717,386 $ 1,174,576,465 Non-performing loans comprise of: i. Loans and advances of the parent that are in arrears over 90 days, which are either past due but not impaired or individually impaired ii. Non-accrual loans of a subsidiary. The average yield on loans for the year was 8.86% (2018 – 8.98%). The Credit Union’s loans and advances portfolio as at March 31, 2019 are in the following staging categories. 2019 Stage 1 Stage 2 Stage 3 Total Consumer $ 649,294,162 34,898,846 60,411,492 744,604,500 Business 21,048,876 2,371,178 11,191,567 34,611,621 Mortgages 385,850,505 50,654,722 39,681,270 476,186,497 Gross loans 1,056,193,543 87,924,746 111,284,329 1,255,402,618 Less: ECL allowance *** (2,359,004) (1,995,213) (23,799,546) (28,153,763) $ 1,053,834,539 85,929,533 87,484,783 1,227,248,855 Add: interest receivable 8,511,040 $ 1,235,759,895 *** Included in expected credit loss allowance as at March 31, 2019, is a provision for the undrawn loan commitments of $231,587.