Non-Consolidated Annual Report 2020

BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | NON-CONSOLIDATED ANNUAL REPORT 2020 47 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) 30 11. Loans and Advances, continued 2019 Stage 1 Stage 2 Stage 3 Total Consumer $ 600,301,367 32,507,579 56,906,938 689,715,884 Business 2,733,605 745,878 1,710,978 5,190,461 Mortgages 268,967,148 23,040,427 29,101,355 321,108,930 Gross loans 872,002,120 56,293,884 87,719,271 1,016,015,275 Less: ECL allowance *** (822,065) (1,468,067) (22,381,377) (24,671,509) $ 871,180,055 54,825,817 65,337,894 991,343,766 Add: interest receivable 6,191,496 $ 997,535,262 *** Included in expected credit loss allowance as at March 31, 2019, is a provision for the undrawn loan commitments of $219,860. (iii) The movement in the expected credit loss allowance is as follows: 2020 Consumer Business Mortgages Total Balance, beginning of year $ 20,354,171 534,792 3,782,546 24,671,509 Reclasification of ECL- Undrawn commitments (219,860) - - (219,860) Amounts charged/write off (6,704,109) (218,109) - (6,922,218) Expected credit loss 6,806,958 (11,155) (498,127) 6,297,676 Balance, end of year $ 20,237,160 305,528 3,284,419 23,827,107 2019 Consumer Business Mortgages Total Balance, beginning of year $ 21,126,243 161,359 3,027,556 24,315,158 Impact of IFRS 9 (482,751) 22,260 (111,386) (571,877) Balance, beginning of year $ 20,643,492 183,619 2,916,170 23,743,281 Amounts charged/write off (2,999,497) (18,483) - (3,017,980) Expected credit loss 2,710,176 369,656 866,376 3,946,208 Balance, end of year $ 20,354,171 534,792 3,782,546 24,671,509