On the back of its lending book’s gradual but subdued growth, Cim’s Net Operating Income increased to MUR 1,238.7M for the period under review. The bottom line result of MUR 251.2M included an allowance for credit impairment of MUR 299.3M for its loan portfolio.
Towards the end of March 2022, the Group acquired Tsusho Capital (Mauritius) Ltd, a leasing company, in line with its strategic intent to complement its current portfolio. With the new acquisition the Total Assets of the Group climbed to MUR 18.8Bn.
The ramification of the conflict in Eastern Europe is continuing to trickle down and has added to the aftermath of the evolving variants of the Covid virus on the global economy, further blurring the timeline for the local economic recovery. With the continued challenges ahead, the Group will continue to adopt a prudent approach in managing its assets and expect an element of volatility in its performance over the coming months.
By Order of the Board
Cim Administrators Ltd
11 May 2022
The condensed financial statements of the Group (‘Interim Report’) are unaudited and have been prepared using the same accounting policies as the audited statements for the year ended 30 September 2021, except for the adoption of published Standards that are now effective.
This Interim Report is issued pursuant to Listing Rule 12.20 and the Securities Act 2005. Copies of the statement of direct and indirect interests of Officers pursuant to rule 8(2)(m) of the Securities (Disclosure Obligations of Reporting Issuers) Rules 2007 and the Interim Report are available free of charge upon request made to the Company Secretary at the registered office of CIM Financial Services Ltd.
The Board of Directors of CIM Financial Services Ltd accepts full responsibility for the accuracy of the information contained therein.
Click here to view the Unaudited Financial Statements for the Period ended 31 March 2022.