109 SEPARATE FINANCIAL STATEMENTS 2024 Barbados Public Workers’ Co-operative Credit Union Limited Notes to the Separate Financial Statements March 31, 2024 (expressed in Barbados dollars) 75 23 Financial risk management …continued Credit risk …continued Credit Quality Analysis …continued The movement across ECL stages at March 31 were as follows: 2024 Stage 1 $ Stage 2 $ Stage 3 $ Total $ Expected credit loss allowance Beginning balance 1,597,219 1,360,746 37,752,279 40,710,244 Stage 1 to stage 2 (45,556) 45,556 – – Stage 1 to stage 3 (24,815) – 24,815 – Stage 2 to stage 1 467,442 (467,442) – – Stage 2 to stage 3 – (286,388) 286,388 – Stage 3 to stage 1 1,557,074 – (1,557,074) – Stage 3 to stage 2 – 353,492 (353,492) – Net ECL re-measurement (2,155,634) (629,556) 1,673,245 (1,111,945) Ending balance 1,395,730 376,408 37,826,161 39,598,299 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) 89,345 – – Stage 1 to stage 3 (53,740) – 53,740 – Stage 2 to stage 1 1,035,165 (1,035,165) – – Stage 2 to stage 3 – (907,891) 907,891 – Stage 3 to stage 1 2,636,182 – (2,636,182) – Stage 3 to stage 2 – 609,352 (609,352) – Net ECL re-measurement (4,730,233) 205,267 5,458,595 933,629 Ending balance 1,597,219 1,360,746 37,752,279 40,710,244
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