BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | CONSOLIDATED ANNUAL REPORT 2022 74 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) 42 13. Loans and Advances, continued 2021 Consumer Business Mortgages Total Gross loans $ 754,458,806 39,584,328 562,377,133 1,356,420,267 Less: ECL allowance (29,742,717) (801,178) (7,148,009) (37,691,904) $ 724,716,089 38,783,150 555,229,124 1,318,728,363 Add: interest receivable 11,411,755 $ 1,330,140,118 The average yield on loans for the year was 7.43% (2021 - 7.42%). The Group’s loans and advances portfolio as at March 31, are in the following staging categories: 2022 Stage 1 Stage 2 Stage 3 Total Consumer $ 645,587,158 20,290,216 111,688,985 777,566,359 Business 21,110,553 2,408,544 2,250,641 25,769,738 Mortgages 516,750,148 29,587,495 83,946,580 630,284,223 Gross loans 1,183,447,859 52,286,255 197,886,206 1,433,620,320 Less: ECL allowance (3,270,137) (3,456,667) (38,327,277) (45,054,081) $ 1,180,177,722 48,829,588 159,558,929 1,388,566,239 Add: interest receivable 10,256,130 $ 1,398,822,369 2021 Stage 1 Stage 2 Stage 3 Total Consumer $ 609,986,841 43,954,769 100,517,196 754,458,806 Business 27,185,868 5,053,533 7,344,927 39,584,328 Mortgages 436,227,828 38,798,610 87,350,695 562,377,133 Gross loans 1,073,400,537 87,806,912 195,212,818 1,356,420,267 Less: ECL allowance (2,316,230) (1,707,452) (33,668,222) (37,691,904) $ 1,071,084,307 86,099,460 161,544,596 1,318,728,363 Add: interest receivable 11,411,755 $ 1,330,140,118
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