Page 110 - RB GRENADA ANNUAL REPORT 2025_ONLINE

110 • Republic Bank (Grenada) Limited 2025 Annual Report • FINANCIALS

Notes to the Financial Statements

For the year ended September 30, 2025. Expressed in Thousands of Eastern Caribbean dollars ($’000), except where otherwise stated.

4 Advances (continued)
b ECL allowance for advances to customers (continued)
Commercial
and
Retail corporate Credit
2024 lending lending Mortgages Overdrafts cards Total

Gross loans 97,841 180,731 803,185 25,490 23,581 1,130,828
Stage 1: 12 Month ECL (38) (506) (851) (149) (1,454) (2,998)
Stage 2: Lifetime ECL (7) (312) (1,775) (81) (111) (2,286)
Stage 3: Credit impaired financial
assets – Lifetime ECL (3,002) (1,543) (1,798) – (3,484) (9,827)

As at September 30, 2024 94,794 178,370 798,761 25,260 18,532 1,115,717

Stage 1: 12 Month ECL
ECL allowance as at October 1, 2023 99 1,989 3,896 67 392 6,443
ECL on new instruments issued
during the year 12 40 203 – – 255
Other credit loss movements,
repayments etc. (73) (1,523) (3,248) 82 1,062 (3,700)

As at September 30, 2024 38 506 851 149 1,454 2,998

Stage 2: Lifetime ECL
ECL allowance as at October 1, 2023 8 394 1,925 140 490 2,957
ECL on new instruments
issued during the year – 48 248 – – 296
Other credit loss movements,
repayments etc. (1) (130) (398) (59) (379) (967)

As at September 30, 2024 7 312 1,775 81 111 2,286

Stage 3: Credit impaired
financial assets – Lifetime ECL
ECL allowance as at October 1, 2023 2,465 1,225 2,226 – 3,291 9,207
Charge-offs and write-offs (363) – (222) – – (585)
Credit loss expense 2,254 1,404 3,700 – 1,411 8,769
Recoveries (1,354) (1,086) (3,906) – (1,218) (7,564)

As at September 30, 2024 3,002 1,543 1,798 – 3,484 9,827

Total 3,047 2,361 4,424 230 5,049 15,111

Of the total ECL of $15.1million, 35.0 percent was on an individual basis and 65.0 percent was on a collective basis.