Separate Annual Report 2021

99 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) 78 23. Financial Risk Management, continued Credit risk, continued Credit Quality Analysis 2020 Stage 1 Stage 2 Stage 3 Total Loans and advances at amortized cost Current $ 758,570,757 - - 758,570,757 Overdue <30 days 143,888,027 - - 143,888,027 Overdue 31 days to 89 days - 54,535,936 - 54,535,936 Overdue over 90 days - - 104,575,171 104,575,171 Total gross loans $ 902,458,784 54,535,936 104,575,171 1,061,569,891 Expected credit loss allowance Balance at March 31, 2019 (822,065) (1,468,067) (22,381,377) (24,671,509) Transfer to stage 1 296,826 - - 296,826 Transfer to stage 2 - 1,236,996 - 1,236,996 Transfer to stage 3 - - (3,022,987) (3,022,987) Net re-measurement of loss allowance 8,299 (1,211,714) (3,385,236) (4,588,651) Amounts charged-off/write-off - - 6,922,218 6,922,218 Total expected credit loss allowance (516,940) (1,442,785) (21,867,382) (23,827,107) Balance at March 31, 2020 901,941,844 53,093,151 82,707,789 1,037,742,784 Interest receivable 8,337,287 Net loans and advances $ 1,046,080,071