BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | CONSOLIDATED ANNUAL REPORT 2022 110 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Notes to the Consolidated Financial Statements For the year ended March 31, 2022 (Expressed in Barbados dollars) 79 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- (2021: 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. 2022 Neither past due Past due but Individually nor impaired not impaired impaired Total Cash resources $ 408,438,156 - - 408,438,156 Financial investments: Amortized cost 13,225,306 - 14,915,553 28,140,859 Loans and advances: Consumer 584,013,562 97,773,133 95,779,664 777,566,359 Mortgages 462,932,507 104,532,452 62,819,264 630,284,223 Business 20,529,186 3,834,093 1,406,458 25,769,737 Total $ 1,489,138,717 206,139,678 174,920,939 1,870,199,334
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