Annual Report 2019

Explanatory Notes 30 SEPTEMBER 2019 16 LOANS AND ADVANCES (CONT’D) (d) Card receivables (cont’d) (ii) Gross carrying amount - Card receivables 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 251.6 106.4 67.8 425.8 New assets originated or purchased 29.7 3.4 4.1 37.2 Assets derecognised or repaid (excluding write offs) (44.6) (17.0) (13.8) (75.4) Transfers to Stage 1 39.4 (36.9) (2.5) - Transfers to Stage 2 (36.7) 40.1 (3.4) - Transfers to Stage 3 (8.3) (19.3) 27.6 - Amounts written off - - (13.8) (13.8) At 30 September 2019 231.1 76.7 66.0 373.8 (iii) Expected credit loss - Card receivables (cont’d) 2019 Stage 1 Stage 2 Stage 3 TOTAL MUR m MUR m MUR m MUR m At 1 October 2018 0.4 0.2 34.0 34.6 New assets originated or purchased 0.1 0.1 2.2 2.4 Assets derecognised or repaid (excluding write offs) - - - - Transfers to Stage 1 0.2 (0.1) (0.1) - Transfers to Stage 2 (0.1) 0.3 (0.2) - Transfers to Stage 3 - - - - ECL movement on transfer (0.2) (0.4) 12.1 11.5 Amounts written off - - (13.8) (13.8) At 30 September 2019 0.4 0.1 34.2 34.7 (e) Movements on the provision for impairment prior to 1 October 2018 are as follows: GROUP Credit facilities Corporate loans Factoring receivables Card receivables Total MUR m MUR m MUR m MUR m MUR m At 1 October 2017 49.5 2.7 20.8 46.5 119.5 Charge for the year 52.2 - - 14.8 67.0 Amounts written off (3.3) - (0.3) (26.3) (29.9) At 30 September 2018 98.4 2.7 20.5 35.0 156.6 Made up of : Specific provision 71.4 - 18.3 24.8 114.5 Portfolio provision 27.0 2.7 2.2 10.2 42.1 98.4 2.7 20.5 35.0 156.6 CIM FINANCIAL SERVICES LTD / ANNUAL REPORT 2019 121