Consolidated Annual Report 2022

73 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) 41 12. Financial Investments, continued The movement in expected credit loss allowance is as follows: 2022 2021 Balance at beginning of year $ 19,539 387,859 Derecognition of expected credit loss allowance 1,375 2,689 Expected credit loss on investments (14,527) (371,009) Balance at end of year $ 6,387 19,539 The expected credit loss allowance at March 31, 2022 relating to debt securities classified as stage 1 and stage 3 were $ 6,387 and $Nil (2021 - $19,539 and $NIL) respectively. 13. Loans and Advances (i) Loans and advances are comprised of the following: 2022 Consumer Business Mortgages Total Gross loans $ 777,566,359 25,769,738 630,284,223 1,433,620,320 Less: ECL allowance (39,881,096) (428,772) (4,744,213) (45,054,081) $ 737,685,263 25,340,966 625,540,010 1,388,566,239 Add: interest receivable 10,256,130 $ 1,398,822,369

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