114 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Barbados Public Workers’ Co-operative Credit Union Limited Notes to the Consolidated Financial Statements March 31, 2025 (expressed in Barbados dollars) 76 25 Financial Risk Management …continued 25.2 Credit risk …continued The Group assigned probabilities and related weights based on the most likely forecasted economic outlook for the period under assessment. This probability is multiplied by a multiplier factor based on management’s professional judgement to derive the adjustment required to incorporate the forward-looking estimate. Since Barbados received a stable outlook for the period under assessment by Moody’s and the Central Bank of Barbados, the base case scenario was the most likely scenario. Out of the sensitivity analysis of nine forecasted states, a forward-looking adjustment of 4% (2024 - 4%) was applied as at March 31, 2025. Maximum exposure Credit risk exposures relating to consolidated statement of financial position assets are as follows: Maximum exposure 2025 $ 2024 $ Loans and advances to members: Consumer 668,206,254 701,338,147 Mortgages 706,393,701 696,469,117 Business 27,757,708 28,060,967 Financial investments: Amortised cost 38,467,505 38,363,341 Cash resources 459,186,824 424,468,248 Credit risk exposures relating to off-consolidated statement of financial position items are as follows: Loan commitments 73,675,637 65,628,480 Total maximum exposure 1,973,687,629 1,954,328,300 The table represents the maximum credit risk exposure of the Group as of March 31, 2025 and March 31, 2024, without taking account of any collateral held or other credit enhancements attached. For consolidated statement of financial position assets, the exposures set out above are based on gross carrying amounts as reported in the consolidated statement of financial position.
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