70 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) 36 11 Loans and advances …continued (iii) The movement in the expected credit loss allowance is as follows: 2024 Consumer $ Business $ Mortgages $ Total $ Balance, beginning of year 32,718,637 540,547 7,451,060 40,710,244 Amounts charged off/write off (3,604,763) (94,950) – (3,699,713) Expected credit loss 3,566,018 39,910 (1,018,160) 2,587,768 Balance, end of year 32,679,892 485,507 6,432,900 39,598,299 2023 Consumer $ Business $ Mortgages $ Total $ Balance, beginning of year 36,278,799 176,310 3,321,506 39,776,615 Amounts charged off/write off (3,857,596) (47,439) – (3,905,035) Expected credit loss 297,434 411,676 4,129,554 4,838,664 Balance, end of year 32,718,637 540,547 7,451,060 40,710,244
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