101 SEPARATE FINANCIAL STATEMENTS 2023 Barbados Public Workers’ Co-operative Credit Union Limited Notes to the Separate Financial Statements March 31, 2023 (expressed in Barbados dollars) 73 23 Financial risk management …continued Credit risk …continued Credit Quality Analysis 2023 Stage 1 $ Stage 2 $ Stage 3 $ Total $ Loans and advances at amortised cost Current 856,516,209 – – 856,516,209 Overdue <30 days 119,841,577 – – 119,841,577 Overdue 31 days to 89 days – 40,297,623 – 40,297,623 Overdue over 90 days – 162,564,166 162,564,166 Total gross loans 976,357,786 40,297,623 162,564,166 1,179,219,575 Expected credit loss allowance Balance at March 31, 2022 (2,799,190) (2,399,838) (34,577,587) (39,776,615) Transfer to stage 1 (536,929) – – (536,929) Transfer to stage 2 – (129,290) – (129,290) Transfer to stage 3 – – (376,627) (376,627) Net re-measurement of loss allowance 1,738,900 1,168,382 1,106,970 4,014,252 Amounts charged-off/write-off – – (3,905,035) (3,905,035) Total expected credit loss allowance (1,597,219) (1,360,746) (37,752,279) (40,710,244) Balance at March 31, 2023 974,760,567 38,936,877 124,811,887 1,138,509,331 Interest receivable 7,881,966 Net loans and advances 1,146,391,297
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