104 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Barbados Public Workers’ Co-operative Credit Union Limited Notes to the Separate Financial Statements March 31, 2024 (expressed in Barbados dollars) 70 23 Financial risk management …continued Credit risk …continued Credit Quality Analysis …continued 2023 Stage 1 $ Stage 2 $ Stage 3 $ Total $ Loans and advances at amortised cost Current 856,516,209 – – 856,516,209 Overdue <30 days 119,841,577 – – 119,841,577 Overdue 31 days to 89 days – 40,297,623 – 40,297,623 Overdue over 90 days – 162,564,166 162,564,166 Total gross loans 976,357,786 40,297,623 162,564,166 1,179,219,575 2024 Stage 1 $ Stage 2 $ POCI $ Total $ Sovereign debt securities measured at amortised cost Standard & Poor’s rating: B Government of Barbados - series B & D bonds *** Not rated – – 17,337,026 17,337,026 Barbados Port Inc. 15,159,737 – – 15,159,737 Gross sovereign debt securities 15,159,737 – 17,337,026 32,496,763 Expected credit losses allowance (39,614) – (69,889) (109,503) Interest receivable 134,692 – 3,572 138,264 Net sovereign debt securities 15,254,815 – 17,270,709 32,525,524
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