BARBADOS PUBLIC WORKERS' CO-OPERATIVE CREDIT UNION LIMITED
Notes to the Non-consolidated Financial Statements
For the year ended March 31, 2013
(Expressed in Barbados dollars)
21
10. Loans and Advances…(continued)
(ii) The movement in the provision for impaired loans is as follows:
2013
Consumer
Business
Mortgages
Total
Balance, beginning of year
$ 14,345,425
235,977
2,058,910
16,640,312
Amounts charged off
(1,797,104)
(16,588)
-
(1,813,692)
Loan impairment expense
4,520,548
21,490
247,964
4,790,002
Balance, end of year
$ 17,068,869
240,879
2,306,874
19,616,622
Individual impairment
$ 13,252,446
215,408
1,711,515
15,179,369
Collective impairment
3,816,423
25,471
595,359
4,437,253
$ 17,068,869
240,879
2,306,874
19,616,622
2012
Consumer
Business
Mortgages
Total
Balance, beginning of year
$ 10,103,267
147,253
3,330,725
13,581,245
Amounts charged off
(792,222)
(13,046)
-
(805,268)
Loan impairment expense
5,034,380
101,770
(1,271,815) 3,864,335
Balance, end of year
$ 14,345,425
235,977
2,058,910
16,640,312
Individual impairment
$ 11,313,220
225,869
1,470,766
13,009,855
Collective impairment
3,032,205
10,108
588,144
3,630,457
$ 14,345,425
235,977
2,058,910
16,640,312
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BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED
ANNUAL REPORT 2013
