Annual Report 2019

Explanatory Notes 30 SEPTEMBER 2019 16. LOANS AND ADVANCES (CONT’D) (c) Factoring receivable (cont’d) (iii) Expected credit loss - Factoring receivables 2019 Stage 1 Stage 2 Stage 3 TOTAL MUR m MUR m MUR m MUR m At 1 October 2018 - 2.6 18.3 20.9 New assets originated - 0.5 5.8 6.3 Assets derecognised or repaid (excluding write offs) - (1.0) (3.6) (4.6) Additional ECL charge - - - - Transfers to Stage 2 - - - - Transfers to Stage 3 - - - - Impact of year end ECL of exposures transferred between stages - - - - Amounts written off - - - - At 30 September 2019 - 2.1 20.5 22.6 (d) Card receivables Card receivables are receivable within 3 months. (i) Credit quality - Card receivables 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 231.1 - - 231.1 Watchlist - 76.7 - 76.7 Non-performing - - 66.0 66.0 231.1 76.7 66.0 373.8 CIM FINANCIAL SERVICES LTD / ANNUAL REPORT 2019 120