BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED
NON-CONSOLIDATED ANNUAL REPORT 2016
41
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)
25
11. Loans and Advances,
continued
(ii)
The movement in the provision for impaired loans is as follows:
2016
Consumer
Business
Mortgages
Total
Balance, beginning of year
$ 17,036,003
294,476
4,572,359
21,902,838
Amounts charged/write off
(5,202,888)
(35,988)
-
(5,238,876)
Loan impairment expense
4,521,870
(106,916) (625,767) 3,789,187
Balance, end of year
$ 16,354,985
151,572
3,946,592
20,453,149
Individual impairment
$ 12,123,333
112,888
3,069,116
15,305,337
Collective impairment
4,231,652
38,684
877,476
5,147,812
$ 16,354,985
151,572
3,946,592
20,453,149
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
