Consolidated Annual Report 2020

81 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | CONSOLIDATED ANNUAL REPORT 2020 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) 64 26. Financial Risk Management, continued 26.2 Credit risk, continued The table represents the maximum credit risk exposure of the Group as of March 31, 2020 and March 31, 2019, without taking account of any collateral held or other credit enhancements attached. For on-balance sheet assets, the exposures set out above are based on net carrying amounts as reported in the consolidated statement of financial position. Credit quality by class of financial assets Loans and advances The credit quality of the loans and advances is managed through the prudent underwriting principles established by the Group. Financial investments The Group has principally invested in government bonds issued by the Government of Barbados which were rates B - (2019 – B - ) Cash resources The credit quality of financial institutions holding the Group’s cash resources is assessed according to the level of their credit worthiness and by comparison to other financial institutions. The Group places its cash resources with reputable financial institutions. The tables below show the credit quality and aging analysis by class of financial assets. 2020 Neither past due Past due but Individually nor impaired not impaired impaired Total Cash resources $ 308,229,297 - - 308,229,297 Financial investments: Amortized cost 22,412,382 - - 22,412,382 Loans and advances: Consumer 559,664,541 160,680,596 56,231,018 776,576,155 Mortgages 324,940,697 149,390,080 37,360,485 511,691,262 Business 24,424,705 13,290,672 2,504,439 40,219,816 Total $ 1,239,671,622 323,361,348 96,095,942 1,659,128,912

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