82 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Barbados Public Workers’ Co-operative Credit Union Limited Notes to the Consolidated Financial Statements March 31, 2024 (expressed in Barbados dollars) 42 13 Loans and Advances …continued i) Loans and advances are comprised of the following: …continued The Group’s loans and advances portfolio as at March 31, are in the following staging categories: 2024 Stage 1 $ Stage 2 $ Stage 3 $ Total $ Consumer 575,714,808 14,915,462 110,707,877 701,338,147 Business 18,211,780 2,022,294 7,826,893 28,060,967 Mortgages 585,633,420 21,735,654 89,100,043 696,469,117 Gross loans 1,179,560,008 38,673,410 207,634,813 1,425,868,231 Less: ECL allowance (2,256,080) (462,829) (41,824,582) (44,543,491) 1,177,303,928 38,210,581 165,810,231 1,381,324,740 Add: Interest receivable 13,225,334 1,394,550,074 2023 Stage 1 $ Stage 2 $ Stage 3 $ Total $ Consumer 610,811,802 28,922,214 109,487,142 749,221,158 Business 23,355,490 1,010,780 8,196,924 32,563,194 Mortgages 563,343,400 28,826,688 87,566,168 679,736,256 Gross loans 1,197,510,692 58,759,682 205,250,234 1,461,520,608 Less: ECL allowance (2,265,518) (1,956,984) (43,822,068) (48,044,570) 1,195,245,174 56,802,698 161,428,166 1,413,476,038 Add: Interest receivable 11,864,661 1,425,340,699
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