CIM FINANCE. INTEGRATED REPORT 2022 | 155 EXPLANATORY NOTES 30 SEPTEMBER 2022 15. NET INVESTMENT IN LEASES AND OTHER CREDIT AGREEMENTS (CONT’D) Other credit agreements (Cont’d) Expected credit loss (Cont’d) Finance income on the net investment in the lease is disclosed in note 5(a). Undiscounted lease payments to be received amount to MUR2,254.6m (2021: MUR2,509.8m). The changes in the loss allowance aremainly explained by the fact that theGroup and Company have adopted a prudent approach on the back of continued uncertainty and the inherent increase in credit risks. COMPANY 2022 Stage 1 Stage 2 Stage 3 TOTAL MUR m MUR m MUR m MUR m At 1 October 2021 46.1 32.0 597.6 675.7 New assets originated or purchased 34.7 6.2 195.2 236.1 Assets derecognised or repaid (excluding write offs) (11.6) (1.8) (41.2) (54.6) Transfers to Stage 1 5.2 (2.1) (3.1) - Transfers to Stage 2 (1.6) 3.0 (1.4) - Transfers to Stage 3 (1.5) (2.6) 4.1 - Impact of year end ECL of exposures transferred between stages (3.8) (0.4) 90.6 86.4 Changes to estimates and assumptions used for ECL calculations 9.9 (14.4) 25.0 20.5 Amounts written off - - (185.6) (185.6) At 30 September 2022 77.4 19.9 681.2 778.5 GROUP 2021 Stage 1 Stage 2 Stage 3 TOTAL MUR m MUR m MUR m MUR m At 1 October 2020 21.3 29.6 560.8 611.7 New assets originated or purchased 20.2 2.3 94.9 117.4 Assets derecognised or repaid (excluding write offs) (11.4) (9.7) (103.0) (124.1) Transfers to Stage 1 17.3 (8.7) (8.6) - Transfers to Stage 2 (1.2) 4.0 (2.8) - Transfers to Stage 3 (1.1) (7.4) 8.5 - Impact of impairment losses and year end ECL of exposures transferred between stages (15.7) (2.8) 71.9 53.4 Changes to estimates and assumptions used for ECL calculations 16.7 24.7 109.1 150.5 Amounts written off - - (133.2) (133.2) At 30 September 2021 46.1 32.0 597.6 675.7 COMPANY 2021 Stage 1 Stage 2 Stage 3 TOTAL MUR m MUR m MUR m MUR m At 1 October 2020 - - - - Amalgamation adjustment 21.3 29.6 560.8 611.7 New assets originated or purchased 20.2 2.3 94.9 117.4 Assets derecognised or repaid (excluding write offs) (11.4) (9.7) (103.0) (124.1) Transfers to Stage 1 17.3 (8.7) (8.6) - Transfers to Stage 2 (1.2) 4.0 (2.8) - Transfers to Stage 3 (1.1) (7.4) 8.5 - Impact of impairment losses and year end ECL of exposures transferred between stages (15.7) (2.8) 71.9 53.4 Changes to estimates and assumptions used for ECL calculations 16.7 24.7 109.1 150.5 Amounts written off - - (133.2) (133.2) At 30 September 2021 46.1 32.0 597.6 675.7
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