BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | CONSOLIDATED ANNUAL REPORT 2020 52 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Notes to the Consolidated Financial Statements For the year ended March 31, 2020 (Expressed in Barbados dollars) 35 13. Loans and Advances, continued 2019 Consumer Business Mortgages Total Gross loans $ 744,604,500 34,611,621 476,186,497 1,255,402,618 Less: ECL allowance *** (21,085,445) (883,022) (6,185,296) (28,153,763) $ 723,519,055 33,728,599 470,001,201 1,227,248,855 Add: interest receivable 8,511,040 $ 1,235,759,895 The average yield on loans for the year was 8.41% (2019 – 8.86%). The Group’s loans and advances portfolio as at March 31, are in the following staging categories. 2020 Stage 1 Stage 2 Stage 3 Total Consumer $ 667,366,770 37,774,884 71,434,501 776,576,155 Business 32,027,832 1,619,283 6,572,701 40,219,816 Mortgages 415,892,927 41,080,434 54,717,901 511,691,262 Gross loans 1,115,287,529 80,474,601 132,725,103 1,328,487,233 Less: ECL allowance (1,489,044) (1,762,113) (24,266,146) (27,517,303) $ 1,113,798,485 78,712,488 108,458,957 1,300,969,930 Add: interest receivable 10,880,934 $ 1,311,850,864 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.
RkJQdWJsaXNoZXIy MTA2MDM=