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BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED
CONSOLIDATED ANNUAL REPORT 2015
BARBADOS PUBLIC WORKERS' CO-OPERATIVE CREDIT UNION LIMITED
Notes to the Consolidated Financial Statements
For the year ended March 31, 2015
(Expressed in Barbados dollars)
30
12. Loans and Advances
(i) Loans and advances are comprised of the following:
2015
Consumer
Business
Mortgages
Total
Performing loans
$ 514,838,559
9,086,493 337,363,411
861,288,463
Non-performing loans
33,119,424 598,947 28,802,731 62,521,102
Gross loans
547,957,983
9,685,440 366,166,142
923,809,565
Less: provision for impairment
(17,036,003) (294,476) (5,858,141)
(23,188,620)
$ 530,921,980 9,390,964 360,308,001
900,620,945
Add: interest receivable
5,438,586
$ 906,059,531
2014
Consumer
Business
Mortgages
Total
Performing loans
$ 467,840,785
2,570,533 316,321,985
786,733,303
Non-performing loans
31,108,593 721,534 24,586,589 56,416,716
Gross loans
498,949,378
3,292,067 340,908,574
843,150,019
Less: provision for impairment
(16,754,197) (462,395) (5,395,013)
(22,611,605)
$ 482,195,181 2,829,672 335,513,561
820,538,414
Add: interest receivable
4,610,710
$ 825,149,124
Finance leases at March 31, 2015 amounted to $28,770 (2014 - $28,770).
A portfolio of mortgage loans of a subsidiary has been pledged as security for certain customer deposits
totalling $18,800,000 (2014 - $18,800,000). At March 31, 2015 a floating charge of $15,000,000
(2014 - $15,000,000) over these deposits had been formalised.
