BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | CONSOLIDATED ANNUAL REPORT 2020 84 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) 67 26. Financial Risk Management, continued 26.2 Credit risk, continued Credit Quality Analysis IFRS 9 – 2020 Stage 1 Stage 2 Stage 3 Total Loans and advances at amortized cost Current $ 889,250,543 16,714,524 2,417,743 908,382,810 Overdue <30 day 202,834,514 6,901,697 - 209,736,211 Overdue 31 days to 89 days 23,202,472 56,858,380 - 80,060,852 Overdue over 90 days - - 130,307,360 130,307,360 Total gross loans 1,115,287,529 80,474,601 132,725,103 1,328,487,233 Expected credit loss allowance Balance at March 31,2019 (2,359,004) (1,995,213) (23,799,546) (28,153,763) Transfer to stage 1 (29,339) 196,735 129,430 296,826 Transfer to stage 2 20,101 1,207,317 9,578 1,236,996 Transfer to stage 3 2,464 39,266 (3,064,717) (3,022,987) Net remeasurement of loss allowance 876,734 (1,210,218) (4,647,101) (4,980,585) Amounts charged-off/write-off - - 7,106,210 7,106,210 Total expected credit loss allowance (1,489,044) (1,762,113) (24,266,146) (27,517,303) Net loans and advances 1,113,798,485 78,712,488 108,458,957 1,300,969,930 Interest receivable 10,880,934 $ 1,311,850,864
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