BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | CONSOLIDATED ANNUAL REPORT 2022 116 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) 85 25. Financial Risk Management, continued 25.2 Credit risk, continued Credit Quality Analysis IFRS 9 – 2021 Stage 1 Stage 2 Stage 3 Total Loans and advances at amortized cost Current $ 883,081,382 - - 883,081,382 Overdue <30 day 190,319,155 1,759,708 - 192,078,863 Overdue 31 days to 89 days - 86,047,204 - 86,047,204 Overdue over 90 days - - 195,212,818 195,212,818 Total gross loans 1,073,400,537 87,806,912 195,212,818 1,356,420,267 Expected credit loss allowance Balance at March 31, 2021 (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/write-off - - - - Total expected credit loss allowance (2,316,230) (1,707,452) (33,668,222) (37,691,904) Net loans and advances 1,071,084,307 86,099,460 161,544,596 1,318,728,363 Interest receivable 11,411,755 $ 1,330,140,118
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