Consolidated Annual Report 2023

115 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) 83 25 Financial Risk Management …continued 25.2 Credit risk …continued The movement across the loan portfolio as at March 31, are in the following staging categories: 2023 Stage 1 $ Stage 2 $ Stage 3 $ Total $ Gross carrying amount April 1, 2022 1,183,447,859 52,286,255 197,886,206 1,433,620,320 Stage 1 to stage 2 (41,724,795) 39,096,485 – (2,628,310) Stage 1 to stage 3 (21,111,310) – 20,043,524 (1,067,786) Stage 2 to stage 1 20,901,950 (26,005,900) – (5,103,950) Stage 2 to stage 3 – (14,700,262) 14,273,756 (426,506) Stage 3 to stage 1 6,955,945 – (16,887,883) (9,931,938) Stage 3 to stage 2 – 3,937,204 (4,578,759) (641,555) Net loans originated (paid) 49,041,043 4,145,900 (5,486,610) 47,700,333 Gross carrying amount April 1, 2023 1,197,510,692 58,759,682 205,250,234 1,461,520,608 2022 Stage 1 $ Stage 2 $ Stage 3 $ Total $ Gross carrying amount April 1, 2021 1,073,400,537 87,806,912 195,212,818 1,356,420,267 Stage 1 to stage 2 (23,714,163) 21,994,933 – (1,719,230) Stage 1 to stage 3 (24,139,083) – 23,004,571 (1,134,512) Stage 2 to stage 1 44,539,091 (48,304,172) – (3,765,081) Stage 2 to stage 3 – (13,336,147) 12,732,790 (603,357) Stage 3 to stage 1 13,539,556 – (16,926,155) (3,386,599) Stage 3 to stage 2 – 6,284,785 (7,337,279) (1,052,494) Net loans originated (paid) 99,821,921 (2,160,056) (8,800,539) 88,861,326 Gross carrying amount April 1, 2022 1,183,447,859 52,286,255 197,886,206 1,433,620,320

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