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, 2026 (expressed in Barbados dollars) 82 24 Financial Risk Management …continued 24.2 Credit risk …continued Loans with renegotiated terms and the Credit Union’s forbearance policy …continued Once the loan is restructured it remains in this category independent of satisfactory performance after restructuring. The Group’s Credit Committee regularly reviews reports on forbearance activities. 2026 $ 2025 $ Renegotiated loans and advances to individuals 2,521,912 3,553,610 Write-off policy The Group writes off a loan or an investment debt security balance, and any related allowances for impairment losses, when it is determined that the loan or security is uncollectible. This determination is made after considering information such as the occurrence of significant changes in the borrower’s/issuer’s financial position such that the borrower/issuer can no longer pay the obligation, or that proceeds from collateral will not be sufficient to pay back the entire exposure. For smaller balance standardised loans, write-off decisions generally are based on a product-specific past due status. Commitments and guarantees To meet the financial needs of customers, the Group enters into various irrevocable commitments and contingent liabilities. Even though these obligations may not be recognised on the consolidated statement of financial position, they do contain credit risk and are therefore part of the overall risk of the Group. The movement across the loan portfolio as at March 31, 2026 are in the following staging categories: 2026 Stage 1 $ Stage 2 $ Stage 3 $ Total $ Gross carrying amount March 31, 2025 1,174,996,760 38,697,783 188,663,120 1,402,357,663 Stage 1 to stage 2 (31,187,381) 31,187,381 – – Stage 1 to stage 3 (11,494,121) – 11,494,121 – Stage 2 to stage 1 20,654,644 (20,654,644) – – Stage 2 to stage 3 – (8,001,074) 8,001,074 – Stage 3 to stage 1 14,330,612 – (14,330,612) – Stage 3 to stage 2 – 8,248,477 (8,248,477) – Net loans originated (paid) 36,828,463 (14,560,056) 2,331,398 24,599,805 Amount written off – – (200,074) (200,074) Gross carrying amount March 31, 2026 1,204,128,977 34,917,867 187,710,550 1,426,757,394
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