Consolidated Annual Report 2021

BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | CONSOLIDATED ANNUAL REPORT 2021 102 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Notes to the Consolidated Financial Statements For the year ended March 31, 2021 (Expressed in Barbados dollars) 76 25. Financial Risk Management, continued 25.2 Credit risk, continued 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 rated B- (2020: 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. 2021 Neither past due Past due but Individually nor impaired not impaired impaired Total Cash resources $ 381,990,826 - - 381,990,826 Financial investments: Amortized cost 13,380,552 - 14,452,726 27,833,278 Loans and advances: Consumer 518,331,911 152,940,750 83,186,145 754,458,806 Mortgages 349,131,694 147,170,061 66,075,378 562,377,133 Business 16,017,144 17,562,239 6,004,945 39,584,328 Total $ 1,278,852,127 317,673,050 169,719,194 1,766,244,371