102 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Barbados Public Workers’ Co-operative Credit Union Limited Notes to the Separate Financial Statements March 31, 2023 (expressed in Barbados dollars) 74 23 Financial risk management …continued Credit risk …continued Credit Quality Analysis …continued 2022 Stage 1 $ Stage 2 $ Stage 3 $ Total $ Loans and advances at amortised cost Current 848,730,456 – – 848,730,456 Overdue <30 days 115,972,603 – – 115,972,603 Overdue 31 days to 89 days – 28,309,533 – 28,309,533 Overdue over 90 days – – 154,427,303 154,427,303 Total gross loans 964,703,059 28,309,533 154,427,303 1,147,439,895 Expected credit loss allowance Balance at March 31, 2021 (2,054,158) (1,460,060) (29,614,265) (33,128,483) Transfer to stage 1 (869,698) – – (869,698) Transfer to stage 2 – (99,906) – (99,906) Transfer to stage 3 – – (298,550) (298,550) Net re-measurement of loss allowance 124,666 (839,872) (4,664,772) (5,379,978) Amounts charged-off/write-off – – – – Total expected credit loss allowance (2,799,190) (2,399,838) (34,577,587) (39,776,615) Balance at March 31, 2022 961,903,869 25,909,695 119,849,716 1,107,663,280 Interest receivable 7,316,307 Net loans and advances 1,114,979,587
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