BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED
NON-CONSOLIDATED ANNUAL REPORT 2015
36
BARBADOS PUBLIC WORKERS' CO-OPERATIVE CREDIT UNION LIMITED
Notes to the Non-consolidated Financial Statements
For the year ended March 31, 2015
(Expressed in Barbados dollars)
24
11. Loans and Advances…(continued)
(ii) The movement in the provision for impaired loans is as follows:
2015
Consumer
Business
Mortgages
Total
Balance, beginning of year
$ 16,754,196
462,395
4,118,331
21,334,922
Amounts charged off
(3,061,940)
(82,101)
-
(3,144,041)
Loan impairment expense
3,343,747
(85,818)
454,028
3,711,957
Balance, end of year
$ 17,036,003
294,476
4,572,359
21,902,838
Individual impairment
$ 13,079,751
221,696
3,408,911
16,710,358
Collective impairment
3,956,252
72,780
1,163,448
5,192,480
$ 17,036,003
294,476
4,572,359
21,902,838
2014
Consumer
Business
Mortgages
Total
Balance, beginning of year
$ 17,068,869
240,879
2,306,874
19,616,622
Amounts charged off
(2,626,995)
(64,034)
-
(2,691,029)
Loan impairment expense
2,312,322
285,550
1,811,457
4,409,329
Balance, end of year
$ 16,754,196
462,395
4,118,331
21,334,922
Individual impairment
$ 12,894,657
347,027
3,014,549
16,256,233
Collective impairment
3,859,539
115,368
1,103,782
5,078,689
$ 16,754,196
462,395
4,118,331
21,334,922
