Separate Annual Report 2021

59 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | SEPARATE FINANCIAL STATEMENTS 2021 BARBADOS PUBLIC WORKERS' CO-OPERATIVE CREDIT UNION LIMITED Notes to the Separate Financial Statements For the year ended March 31, 2021 (Expressed in Barbados dollars) 36 11. Loans and advances (i) Loans and advances are comprised of the following: 2021 Consumer Business Mortgages Total Gross loans $ 691,546,736 5,323,375 382,688,121 1,079,558,232 Less: ECL allowance (26,414,883) (633,291) (6,080,309) (33,128,483) $ 665,131,853 4,690,084 376,607,812 1,046,429,749 Add: interest receivable 8,235,470 $ 1,054,665,219 2020 Consumer Business Mortgages Total Gross loans $ 713,261,410 5,354,814 342,953,667 1,061,569,891 Less: ECL allowance (20,237,160) (305,528) (3,284,419) (23,827,107) $ 693,024,250 5,049,286 339,669,248 1,037,742,784 Add: interest receivable 8,337,287 $ 1,046,080,071 The average yield on loans for the year was 7.76% (2020: 8.41%). (ii) The Credit Union’s loans and advances portfolio as at March 31, are in the following staging categories. 2021 Stage 1 Stage 2 Stage 3 Total Consumer $ 563,275,513 36,297,985 91,973,238 691,546,736 Business 1,977,171 817,992 2,528,212 5,323,375 Mortgages 308,929,247 21,234,128 52,524,746 382,688,121 Gross loans 874,181,931 58,350,105 147,026,196 1,079,558,232 Less: ECL allowance (2,054,158) (1,460,060) (29,614,265) (33,128,483) $ 872,127,773 56,890,045 117,411,931 1,046,429,749 Add: interest receivable 8,235,470 $ 1,054,665,219