Non-Consolidated Annual Report 2020

BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | NON-CONSOLIDATED ANNUAL REPORT 2020 46 BARBADOS PUBLIC WORKERS' CO-OPERATIVE CREDIT UNION LIMITED Notes to the Non-consolidated Financial Statements For the year ended March 31, 2020 (Expressed in Barbados dollars) 29 11. Loans and advances (i) Loans and advances are comprised of the following: 2020 Consumer Business Mortgages Total Gross loans $ 713,261,410 5,354,814 342,953,667 1,061,569,891 Less: ECL allowance (20,237,160) (305,528) (3,284,419) (23,827,107) $ 693,024,250 5,049,286 339,669,248 1,037,742,784 Add: interest receivable 8,337,287 $ 1,046,080,071 2019 Consumer Business Mortgages Total Gross loans $ 689,715,884 5,190,461 321,108,930 1,016,015,275 Less: ECL allowance *** (20,354,171) (534,792) (3,782,546) (24,671,509) $ 669,361,713 4,655,669 317,326,384 991,343,766 Add: interest receivable 6,191,496 $ 997,535,262 The average yield on loans for the year was 8.41% (2019 – 8.86%). (ii) The Credit Union’s loans and advances portfolio as at March 31, are in the following staging categories. 2020 Stage 1 Stage 2 Stage 3 Total Consumer $ 612,965,741 32,281,799 68,013,870 713,261,410 Business 2,975,927 676,689 1,702,198 5,354,814 Mortgages 286,517,116 21,577,448 34,859,103 342,953,667 Gross loans 902,458,784 54,535,936 104,575,171 1,061,569,891 Less: ECL allowance (516,940) (1,442,785) (21,867,382) (23,827,107) $ 901,941,844 53,093,151 82,707,789 1,037,742,784 Add: interest receivable 8,337,287 $ 1,046,080,071