111 CONSOLIDATED FINANCIAL STATEMENTS 2023 Barbados Public Workers’ Co-operative Credit Union Limited Notes to the Consolidated Financial Statements March 31, 2023 (expressed in Barbados dollars) 79 25 Financial Risk Management …continued 25.2 Credit risk …continued Credit Quality Analysis 2023 Stage 1 $ Stage 2 $ Stage 3 $ Total $ Loans and advances at amortised cost Current 1,036,588,220 – – 1,036,588,220 Overdue <30 days 160,922,472 – – 160,922,472 Overdue 31 days to 89 days – 58,759,682 – 58,759,682 Overdue over 90 days – – 205,250,234 205,250,234 Total gross loans 1,197,510,692 58,759,682 205,250,234 1,461,520,608 Expected credit loss allowance Balance at March 31, 2022 (3,270,137) (3,456,667) (38,327,277) (45,054,081) Transfer to stage 1 (1,319,362) – – (1,319,362) Transfer to stage 2 – (299,263) – (299,263) Transfer to stage 3 – – (553,522) (553,522) Net re-measurement of loss allowance 2,323,981 1,798,946 (8,846,304) (4,723,377) Amounts charged-off/write-off – – 3,905,035 3,905,035 Total expected credit loss allowance (2,265,518) (1,956,984) (43,822,068) (48,044,570) Net loans and advances 1,195,245,174 56,802,698 161,428,166 1,413,476,038 Interest receivable 11,864,661 1,425,340,699
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