105 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) 77 23 Financial risk management …continued Credit risk …continued Credit Quality Analysis …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 964,703,059 28,309,533 154,427,303 1,147,439,895 Stage 1 to stage 2 (30,791,513) 28,401,166 – (2,390,347) Stage 1 to stage 3 (18,520,798) 17,444,825 (1,075,973) Stage 2 to stage 1 9,301,825 (12,211,262) – (2,909,437) Stage 2 to stage 3 (10,709,876) 10,350,358 (359,518) Stage 3 to stage 1 3,759,202 – (11,773,481) (8,014,279) Stage 3 to stage 2 2,266,311 (2,721,433) (455,122) Net loans originated (paid) 47,906,011 4,241,751 (5,163,406) 46,984,356 Gross carrying amount April 1, 2023 976,357,786 40,297,623 162,564,166 1,179,219,575 2022 Stage 1 $ Stage 2 $ Stage 3 $ Total $ Gross carrying amount April 1, 2021 874,181,931 58,350,105 147,026,196 1,079,558,232 Stage 1 to stage 2 (14,464,010) 13,481,721 – (982,289) Stage 1 to stage 3 (19,266,196) – 18,369,703 (896,493) Stage 2 to stage 1 31,196,865 (35,474,276) – (4,277,411) Stage 2 to stage 3 – (8,609,456) 8,176,740 (432,716) Stage 3 to stage 1 6,181,011 – (7,681,639) (1,500,628) Stage 3 to stage 2 – 3,351,731 (3,754,882) (403,151) Net loans originated (paid) 86,873,458 (2,790,292) (7,708,815) 76,374,351 Gross carrying amount April 1, 2022 964,703,059 28,309,533 154,427,303 1,147,439,895
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