Annual Report 2019

Explanatory Notes 30 SEPTEMBER 2019 16. LOANS AND ADVANCES (CONT’D) (a) Credit facilities (cont’d) (iii) Gross carrying amount - Credit facilities An analysis of changes in the gross carrying amount and the corresponding ECL allowances in relation to Credit facilities is as follows: 2019 Stage 1 Stage 2 Stage 3 Total MUR m MUR m MUR m MUR m At 1 October 2018 1,753.9 136.4 196.3 2,086.6 New assets originated 1,685.9 139.4 59.7 1,885.0 Assets derecognised or repaid (excluding write offs) (766.0) (57.3) (55.9) (879.2) Transfers to Stage 1 45.3 (35.4) (9.9) - Transfers to Stage 2 (81.6) 94.9 (13.3) - Transfers to Stage 3 (49.1) (23.2) 71.6 (0.7) Amounts written off - - (11.7) (11.7) At 30 September 2019 2,588.4 254.8 236.8 3,080.1 (iv) Expected credit loss - Credit facilities 2019 Stage 1 Stage 2 Stage 3 Total MUR m MUR m MUR m MUR m At 1 October 2018 4.6 0.7 79.8 85.1 New assets originated 12.2 8.6 12.8 33.6 Assets derecognised or repaid (excluding write offs) (2.0) (0.4) (42.2) (44.6) Transfers to Stage 1 0.1 (0.1) - - Transfers to Stage 2 (0.2) 5.3 (5.1) - Transfers to Stage 3 (0.1) (0.1) 0.2 - Impact on ECL of stage transfers - 0.1 65.4 65.5 Amounts written off - - (11.7) (11.7) At 30 September 2019 14.6 14.1 99.2 127.9 (b) Corporate loans (i) Corporate loans receivables breakdown: GROUP COMPANY Sep-19 Sep-18 Sep-19 Sep-18 MUR m MUR m MUR m MUR m Within one year 50.0 85.1 2,819.7 1,036.4 After one year and before five years 95.6 147.0 182.3 69.1 After five years 24.6 37.4 - - 170.2 269.5 3,002.0 1,105.5 (ii) Credit quality - Corporate Credit facility The table below shows the credit quality and the maximum exposure to credit risk based on the Group’s internal credit rating system and year end stage classification. The amounts presented are gross of impairment allowances. Details of the Group’s internal grading system and policies on whether ECL allowances are calculated on an individual or collective basis are set out in Note 4.1 (d). 2019 Stage 1 Stage 2 Stage 3 Total MUR m MUR m MUR m MUR m Performing 112.6 - - 112.6 Watchlist - - - - Non-performing - - 57.6 57.6 112.6 - 57.6 170.2 CIM FINANCIAL SERVICES LTD / ANNUAL REPORT 2019 117