119 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) 88 25. Financial Risk Management, continued 25.2 Credit risk, continued The movement across the loan portfolio as at March 31, are in the following staging categories: 2022 Stage 1 Stage 2 Stage 3 Total Gross carrying amount April 1, 2021 $ 1,073,400,537 87,806,912 195,212,818 1,356,420,267 Stage 1 to stage 2 (23,714,163) 21,994,933 - (1,719,230) Stage 1 to stage 3 (24,139,083) - 23,004,571 (1,134,512) Stage 2 to stage 1 44,539,091 (48,304,172) - (3,765,081) Stage 2 to stage 3 - (13,336,147) 12,732,790 (603,357) Stage 3 to stage 1 13,539,556 (16,926,155) (3,386,599) Stage 3 to stage 2 - 6,284,785 (7,337,279) (1,052,494) Net loans originated (paid) 99,821,921 (2,160,056) (8,800,539) 88,861,326 Gross carrying amount April 1, 2022 $ 1,183,447,859 52,286,255 197,886,206 1,433,620,320 2021 Stage 1 Stage 2 Stage 3 Total Gross carrying amount April 1, 2021 $ 1,115,287,529 80,474,601 132,725,103 1,328,487,233 Stage 1 to stage 2 (59,832,359) 59,686,010 (2,327,086) (2,473,435) Stage 1 to stage 3 (43,682,044) - 42,773,035 (909,009) Stage 2 to stage 1 19,677,168 (22,561,730) - (2,884,562) Stage 2 to stage 3 - (33,964,942) 33,454,216 (510,726) Stage 3 to stage 1 4,812,755 - (6,235,550) (1,422,795) Stage 3 to stage 2 - 1,462,115 (2,146,893) (684,778) Net loans originated (paid) 37,137,488 2,710,858 (3,030,007) 36,818,339 Gross carrying amount April 1, 2022 $ 1,073,400,537 87,806,912 195,212,818 1,356,420,267
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