BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED
NON-CONSOLIDATED ANNUAL REPORT 2016
40
BARBADOS PUBLIC WORKERS' CO-OPERATIVE CREDIT UNION LIMITED
Notes to the Non-consolidated Financial Statements
For the year ended March 31, 2016
(Expressed in Barbados dollars)
24
11.
Loans and Advances
(i)
Loans and advances are comprised of the following:
2016
Consumer
Business
Mortgages
Total
Performing loans
$ 531,614,563
2,828,277
246,197,419
780,640,259
Non-performing loans
33,062,055
646,858
18,978,753
52,687,666
Gross loans
564,676,618
3,475,135
265,176,172
833,327,925
Less: provision for impairment
(16,354,985) (151,572) (3,946,592) (20,453,149)
$ 548,321,633
3,323,563
261,229,580
812,874,776
Add: interest receivable
4,963,994
$ 817,838,770
2015
Consumer
Business
Mortgages
Total
Performing loans
$ 491,662,619
2,458,562
220,158,090
714,279,271
Non-performing loans
30,986,219
598,947
19,309,332
50,894,498
Gross loans
522,648,838
3,057,509
239,467,422
765,173,769
Less: provision for impairment
(17,036,003) (294,476) (4,572,359) (21,902,838)
$ 505,612,835
2,763,033
234,895,063
743,270,931
Add: interest receivable
3,226,008
$ 746,496,939
The average yield on loans for the year was 9.10% (2015 – 8.92%).
