108 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Barbados Public Workers’ Co-operative Credit Union Limited Notes to the Consolidated Financial Statements March 31, 2023 (expressed in Barbados dollars) 76 25 Financial Risk Management …continued 25.2 Credit risk …continued Credit quality by class of financial assets Loans and advances The credit quality of the loans and advances is managed through the prudent underwriting principles established by the Group. Financial investments The Group has principally invested in government bonds issued by the Government of Barbados which were rated B- (2022: B-) Cash resources The credit quality of financial institutions holding the Group’s cash resources is assessed according to the level of their credit worthiness and by comparison to other financial institutions. The Group places its cash resources with reputable financial institutions. The tables below show the credit quality and aging analysis by class of financial assets. 2023 Neither past due nor impaired $ Past due but not impaired $ Individually impaired $ Total $ Cash resources 392,829,356 – – 392,829,356 Financial investments: Amortised cost 11,276,667 – 14,703,427 25,980,094 Loans and advances: Consumer 548,939,260 108,316,928 91,964,970 749,221,158 Mortgages 506,292,484 123,260,496 50,183,276 679,736,256 Business 22,313,770 1,649,846 8,599,578 32,563,194 Total 1,481,651,537 233,227,270 165,451,251 1,880,330,058 Aging analysis of past due but not impaired loans and advances: 2023 1-30 days $ 31-60 days $ 61-90 days $ Over 90 days $ Total $ Loans and advances: Consumer 61,984,628 24,711,052 4,333,440 17,287,808 108,316,928 Mortgages 57,016,680 25,558,662 2,488,759 38,196,395 123,260,496 Business 786,108 91,221 20,623 751,894 1,649,846 Total 119,787,416 50,360,935 6,842,822 56,236,097 233,227,270
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