115 CONSOLIDATED FINANCIAL STATEMENTS 2026 Barbados Public Workers’ Co-operative Credit Union Limited Notes to the Consolidated Financial Statements March 31, 2026 (expressed in Barbados dollars) 83 24 Financial Risk Management …continued 24.2 Credit risk …continued 2025 Stage 1 $ Stage 2 $ Stage 3 $ Total $ Gross carrying amount April 1, 2024 1,179,560,008 38,673,410 207,634,813 1,425,868,231 Stage 1 to stage 2 (18,917,908) 18,917,908 – – Stage 1 to stage 3 (13,753,965) – 13,753,965 – Stage 2 to stage 1 26,682,082 (26,682,082) – – Stage 2 to stage 3 – (6,222,327) 6,222,327 – Stage 3 to stage 1 38,574,023 – (38,574,023) – Stage 3 to stage 2 – 3,476,335 (3,476,335) – Net loans originated (paid) (37,147,480) 10,534,539 2,783,984 (23,828,957) Amount written off – – 318,389 318,389 Gross carrying amount March 31, 2025 1,174,996,760 38,697,783 188,663,120 1,402,357,663 The movement across ECL stages at March 31 were as follows: 2026 Stage 1 $ Stage 2 $ Stage 3 $ Total $ Expected credit loss allowance Beginning balance 1,542,181 902,498 37,276,378 39,721,057 Stage 1 to stage 2 (36,381) 36,381 – – Stage 1 to stage 3 (16,431) – 16,431 – Stage 2 to stage 1 523,208 (523,208) – – Stage 2 to stage 3 – (205,485) 205,485 – Stage 3 to stage 1 3,212,168 – (3,212,168) – Stage 3 to stage 2 – 264,562 (264,562) – Net ECL re-measurement (2,996,450) 645,563 3,705,326 1,354,439 Amount written off – – (200,074) (200,074) Ending balance 2,228,295 1,120,311 37,526,816 40,875,422
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