116 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) 84 25 Financial Risk Management …continued 25.2 Credit risk …continued The movement across ECL stages at March 31 were as follows: 2023 Stage 1 $ Stage 2 $ Stage 3 $ Total $ Expected credit loss allowance Beginning balance 3,270,137 3,456,667 38,327,277 45,054,081 Stage 1 to stage 2 (112,989) 105,292 – (7,697) Stage 1 to stage 3 (58,954) – 55,785 (3,169) Stage 2 to stage 1 1,304,061 (1,647,035) – (342,974) Stage 2 to stage 3 – (1,082,382) 1,049,142 (33,240) Stage 3 to stage 1 1,108,618 – (3,061,345) (1,952,727) Stage 3 to stage 2 – 654,537 (773,950) (119,413) Net ECL re-measurement (3,245,355) 469,905 8,225,159 5,449,709 Amount written off – – – – Ending balance 2,265,518 1,956,984 43,822,068 48,044,570 The movement across ECL stages at March 31 were as follows: 2022 Stage 1 $ Stage 2 $ Stage 3 $ Total $ Expected credit loss allowance Beginning balance 2,316,230 1,707,452 33,668,222 37,691,904 Stage 1 to stage 2 (50,635) 47,567 – (3,068) Stage 1 to stage 3 (52,147) – 49,604 (2,543) Stage 2 to stage 1 865,871 (972,902) – (107,031) Stage 2 to stage 3 – (248,202) 237,375 (10,827) Stage 3 to stage 1 2,000,570 – (2,303,325) (302,755) Stage 3 to stage 2 – 993,096 (1,074,300) (81,204) Net ECL re-measurement (1,809,752) 1,929,656 7,916,899 8,036,803 Amount written off – – (167,198) (167,198) Ending balance 3,270,137 3,456,667 38,327,277 45,054,081
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