66 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Barbados Public Workers’ Co-operative Credit Union Limited Notes to the Separate Financial Statements March 31, 2025 (expressed in Barbados dollars) 34 10 Financial investments …continued The movement in expected credit loss allowance on debt investments at amortised cost as follows: Note 2025 $ 2024 $ Balance at beginning of year 132,203 3,147 Expected credit loss on investments 5 41,913 129,056 Balance at end of year 174,116 132,203 There was $71,685 (2024: $69,889) expected credit loss allowance at March 31, 2025 related to debt securities classified as stage 3 and $40,549 (2024: $39,614) related to debt securities classified as stage 1. 11 Loans and advances (i) Loans and advances are comprised of the following: 2025 Consumer $ Business $ Mortgages $ Total $ Gross loans 612,799,329 3,028,441 537,537,574 1,153,365,344 Less: ECL allowance (29,494,390) (430,283) (5,980,539) (35,905,212) 583,304,939 2,598,158 531,557,035 1,117,460,132 Add: Interest receivable 10,503,415 1,127,963,547 2024 Consumer $ Business $ Mortgages $ Total $ Gross loans 641,370,224 3,664,576 517,165,132 1,162,199,932 Less: ECL allowance (32,679,892) (485,507) (6,432,900) (39,598,299) 608,690,332 3,179,069 510,732,232 1,122,601,633 Add: Interest receivable 9,131,489 1,131,733,122 The average yield on loans for the year was 7.21% (2024: 7.22%).
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