120 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) 82 25 Financial Risk Management …continued 25.2 Credit risk …continued 2024 Stage 1 $ Stage 2 $ Stage 3 $ Total $ Gross carrying amount April 1, 2023 1,197,510,692 58,759,682 205,250,234 1,461,520,608 Stage 1 to stage 2 (33,542,667) 33,542,667 – – Stage 1 to stage 3 (15,946,787) – 15,946,787 – Stage 2 to stage 1 26,089,799 (26,089,799) – – Stage 2 to stage 3 – (9,480,279) 9,480,279 – Stage 3 to stage 1 12,343,941 – (12,343,941) – Stage 3 to stage 2 – 3,320,677 (3,320,677) – Net loans originated (paid) (6,894,970) (21,379,538) (9,862,100) (38,136,608) Amount written off – – 2,484,231 2,484,231 Gross carrying amount April 1, 2024 1,179,560,008 38,673,410 207,634,813 1,425,868,231 The movement across ECL stages at March 31 were as follows: 2025 Stage 1 $ Stage 2 $ Stage 3 $ Total $ Expected credit loss allowance Beginning balance 2,256,080 462,829 41,824,582 44,543,491 Stage 1 to stage 2 (31,861) 31,861 – – Stage 1 to stage 3 (22,202) – 22,202 – Stage 2 to stage 1 478,337 (478,337) – – Stage 2 to stage 3 – (111,825) 111,825 – Stage 3 to stage 1 7,931,394 – (7,931,394) – Stage 3 to stage 2 – 738,642 (738,642) – Net ECL re-measurement (9,069,567) 259,328 3,669,416 (5,140,823) Amount written off – – 318,389 318,389 Ending balance 1,542,181 902,498 37,276,378 39,721,057
RkJQdWJsaXNoZXIy MTA2MDM=