Integrated Report 2020

INTEGRATED REPORT 2020 CIM FINANCIAL SERVICES LTD Explanatory Notes 30 SEPTEMBER 2020 16. LOANS AND ADVANCES (CONT’D) (c) Factoring receivables (cont’d) (iv) Expected credit loss – Factoring receivables (cont’d) 2020 Stage 1 Stage 2 Stage 3 TOTAL MUR m MUR m MUR m MUR m At 1 October 2019 - 2.1 20.5 22.6 New assets originated - - - - Assets derecognised or repaid (excluding write offs) (0.8) (0.3) (2.5) (3.6) Additional ECL charge - - - - Transfers to Stage 2 - - - - Transfers to Stage 3 - - - - Impact of impairment losses and year end ECL of exposures transferred between stages 1.8 (1.8) 2.9 2.9 Amounts written off - - (4.7) (4.7) At 30 September 2020 1.0 - 16.2 17.2 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) 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 before impairment 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). 2020 Stage 1 Stage 2 Stage 3 TOTAL MUR m MUR m MUR m MUR m Performing 192.6 - - 192.6 Watchlist - 45.4 - 45.4 Non-performing - - 77.4 77.4 192.6 45.4 77.4 315.4 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 66.0 373.8 123