Non-Consolidated Annual Report 2020

BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | NON-CONSOLIDATED ANNUAL REPORT 2020 82 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) 65 23. Financial Risk Management, continued 23.2 Credit risk, continued Credit Quality Analysis IFRS 9 – 2019 Stage 1 Stage 2 Stage 3 Total Loans and advances at amortized cost Current $ 746,136,000 - - 746,136,000 Overdue <30 days 125,866,120 - - 125,866,120 Overdue 31 days to 89 days - 56,293,884 - 56,293,884 Overdue over 90 days - - 87,719,271 87,719,271 Total gross loans 872,002,120 56,293,884 87,719,271 1,016,015,275 Expected credit loss allowance (2018 – Provision for impaired loans) Balance at April 1 (933,583) (1,460,328) (21,921,247) (24,315,158) Impact of IFRS 9 implementation - - 571,877 571,877 Balance at April 1 (adjusted) (933,583) (1,460,328) (21,349,370) (23,743,281) Transfer to stage 1 (227,555) - - (227,555) Transfer to stage 2 - (630,392) - (630,392) Transfer to stage 3 - - (492,862) (492,862) Net re-measurement of loss allowance 339,073 622,653 (3,557,125) (2,595,399) Amounts charged-off/write-off - - 3,017,980 3,017,980 Total expected credit loss allowance (822,065) (1,468,067) (22,381,377) (24,671,509) Balance at March 31 871,180,055 54,825,817 65,337,894 991,343,766 Interest receivable - - - 6,191,496 Net loans and advances 871,180,055 54,825,817 65,337,894 997,535,262