113 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | CONSOLIDATED ANNUAL REPORT 2022 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) 82 25. Financial Risk Management, continued 25.2 Credit risk, continued Credit Quality Analysis IFRS 9 – 2022 Stage 1 Stage 2 Stage 3 Total Loans and advances at amortized cost Current $ 1,044,756,284 - - 1,044,756,284 Overdue <30 day 138,691,575 - - 138,691,575 Overdue 31 days to 89 days - 52,286,255 - 52,286,255 Overdue over 90 days - - 197,886,206 197,886,206 Total gross loans 1,183,447,859 52,286,255 197,886,206 1,433,620,320 Expected credit loss allowance Balance at March 31, 2021 (2,316,230) (1,707,452) (33,668,222) (37,691,904) Transfer to stage 1 (1,253,329) - - (1,253,329) Transfer to stage 2 - (466,315) - (466,315) Transfer to stage 3 - - (305,821) (305,821) Net remeasurement of loss allowance 299,422 (1,282,900) (4,520,432) (5,503,910) Amounts charged-off/write-off - - 167,198 167,198 Total expected credit loss allowance (3,270,137) (3,456,667) (38,327,277) (45,054,081) Net loans and advances 1,180,177,722 48,829,588 159,558,929 1,388,566,239 Interest receivable 10,256,130 $ 1,398,822,369
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