63 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | SEPARATE FINANCIAL STATEMENTS 2022 BARBADOS PUBLIC WORKERS' CO-OPERATIVE CREDIT UNION LIMITED Notes to the Separate Financial Statements For the year ended March 31, 2022 (Expressed in Barbados dollars) 35 11. Loans and advances (i) Loans and advances are comprised of the following: 2022 Consumer Business Mortgages Total Gross loans $ 695,911,979 4,971,950 446,555,966 1,147,439,895 Less: ECL allowance (36,278,799) (176,310) (3,321,506) (39,776,615) $ 659,633,180 4,795,640 443,234,460 1,107,663,280 Add: interest receivable 7,316,307 $ 1,114,979,587 2021 Consumer Business Mortgages Total Gross loans $ 691,546,736 5,323,375 382,688,121 1,079,558,232 Less: ECL allowance (26,414,883) (633,291) (6,080,309) (33,128,483) $ 665,131,853 4,690,084 376,607,812 1,046,429,749 Add: interest receivable 8,235,470 $ 1,054,665,219 The average yield on loans for the year was 7.76% (2021: 7.76%). (ii) The Credit Union’s loans and advances portfolio as at March 31, are in the following staging categories. 2022 Stage 1 Stage 2 Stage 3 Total Consumer $ 584,575,323 12,704,971 98,631,685 695,911,979 Business 2,315,282 406,027 2,250,641 4,971,950 Mortgages 377,812,454 15,198,535 53,544,977 446,555,966 Gross loans 964,703,059 28,309,533 154,427,303 1,147,439,895 Less: ECL allowance (2,799,190) (2,399,838) (34,577,587) (39,776,615) $ 961,903,869 25,909,695 119,849,716 1,107,663,280 Add: interest receivable 7,316,307 $ 1,114,979,587
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