81 CONSOLIDATED FINANCIAL STATEMENTS 2024 Barbados Public Workers’ Co-operative Credit Union Limited Notes to the Consolidated Financial Statements March 31, 2024 (expressed in Barbados dollars) 41 13 Loans and Advances i) Loans and advances are comprised of the following: 2024 Consumer $ Business $ Mortgages $ Total $ Gross loans 701,338,147 28,060,967 696,469,117 1,425,868,231 Less: ECL allowance (34,997,098) (637,911) (8,908,482) (44,543,491) 666,341,049 27,423,056 687,560,635 1,381,324,740 Add: Interest receivable 13,225,334 1,394,550,074 2023 Consumer $ Business $ Mortgages $ Total $ Gross loans 749,221,158 32,563,194 679,736,256 1,461,520,608 Less: ECL allowance (37,642,901) (648,221) (9,753,448) (48,044,570) 711,578,257 31,914,973 669,982,808 1,413,476,038 Add: Interest receivable 11,864,661 1,425,340,699 The average yield on loans for the year was 6.93% (2023 - 7.36%).
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