106 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) 78 23 Financial risk management …continued Credit risk …continued Credit Quality Analysis …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 2,799,190 2,399,838 34,577,587 39,776,615 Stage 1 to stage 2 (89,345) 82,409 – (6,936) Stage 1 to stage 3 (53,740) – 50,618 (3,122) Stage 2 to stage 1 788,529 (1,035,165) – (246,636) Stage 2 to stage 3 – (907,891) 877,414 (30,477) Stage 3 to stage 1 841,717 – (2,636,182) (1,794,465) Stage 3 to stage 2 – 507,446 (609,352) (101,906) Net ECL re-measurement (2,689,132) 314,109 5,492,194 3,117,171 Ending balance 1,597,219 1,360,746 37,752,279 40,710,244 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 2,054,158 1,460,060 29,614,265 33,128,483 Stage 1 to stage 2 (33,988) 31,679 – (2,309) Stage 1 to stage 3 (45,272) – 43,165 (2,107) Stage 2 to stage 1 780,621 (887,652) – (107,031) Stage 2 to stage 3 – (215,429) 204,602 (10,827) Stage 3 to stage 1 1,244,990 – (1,547,249) (302,259) Stage 3 to stage 2 – 675,111 (756,315) (81,204) Net ECL re-measurement (1,201,319) 1,336,069 7,019,119 7,153,869 Ending balance 2,799,190 2,399,838 34,577,587 39,776,615
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