64 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) 36 11. Loans and Advances, continued 2021 Stage 1 Stage 2 Stage 3 Total Consumer $ 563,275,513 36,297,985 91,973,238 691,546,736 Business 1,977,171 817,992 2,528,212 5,323,375 Mortgages 308,929,247 21,234,128 52,524,746 382,688,121 Gross loans 874,181,931 58,350,105 147,026,196 1,079,558,232 Less: ECL allowance (2,054,158) (1,460,060) (29,614,265) (33,128,483) $ 872,127,773 56,890,045 117,411,931 1,046,429,749 Add: interest receivable 8,235,470 $ 1,054,665,219 (iii) The movement in the expected credit loss allowance is as follows: 2022 Consumer Business Mortgages Total Balance, beginning of year $ 26,414,883 633,291 6,080,309 33,128,483 Expected credit loss 9,863,916 (456,981) (2,758,803) 6,648,132 Balance, end of year $ 36,278,799 176,310 3,321,506 39,776,615 2021 Consumer Business Mortgages Total Balance, beginning of year $ 20,237,160 305,528 3,284,419 23,827,107 Expected credit loss 6,177,723 327,763 2,795,890 9,301,376 Balance, end of year $ 26,414,883 633,291 6,080,309 33,128,483
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