113 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) 81 25 Financial Risk Management …continued 25.2 Credit risk …continued Credit Quality Analysis …continued 2022 Stage 1 $ Stage 2 $ Stage 3 $ Total $ Loans and advances at amortised cost Current 1,044,756,284 – – 1,044,756,284 Overdue <30 days 138,691,575 – – 138,691,575 Overdue 31 days to 89 days – 52,286,255 – 52,286,255 Overdue over 90 days – – 197,886,206 197,886,206 Total gross loans 1,183,447,859 52,286,255 197,886,206 1,433,620,320 Expected credit loss allowance Balance at March 31, 2022 (2,316,230) (1,707,452) (33,668,222) (37,691,904) Transfer to stage 1 (1,253,329) – – (1,253,329) Transfer to stage 2 – (466,315) – (466,315) Transfer to stage 3 – – (305,821) (305,821) Net re-measurement of loss allowance 299,422 (1,282,900) (4,520,432) (5,503,910) Amounts charged-off/write-off – – 167,198 167,198 Total expected credit loss allowance (3,270,137) (3,456,667) (38,327,277) (45,054,081) Net loans and advances 1,180,177,722 48,829,588 159,558,929 1,388,566,239 Interest receivable 10,256,130 1,398,822,369
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