Consolidated Annual Report 2021

109 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | CONSOLIDATED ANNUAL REPORT 2021 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) 85 25. Financial Risk Management, continued 25.2 Credit risk, continued IFRS 9 – 2021 Stage 1 Stage 2 Stage 3 Total Loans and advances at Amortised cost Balance at April 1 $ 1,489,044 1,762,113 24,266,146 27,517,303 Transfer to Stage 1 582,362 (40,396) (18,661) 523,305 Transfer to Stage 2 (11,248) 243,378 - 232,130 Transfer to Stage 3 (7,834) (1,086) 512,989 504,069 Net remeasurement of loss allowance 263,906 (256,557) 8,907,748 8,915,097 Amounts charged-off - - - - Balance at March 31 $ 2,316,230 1,707,452 33,668,222 37,691,904 IFRS 9 – 2020 Stage 1 Stage 2 Stage 3 Total Loans and advances at Amortised cost Balance at April 1 $ 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 re-measurement of loss allowance (876,734) 1,210,218 4,647,101 4,980,585 Amounts charged-off - - (7,106,210) (7,106,210) Balance at March 31 $ 1,489,044 1,762,113 24,266,146 27,517,303

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