Integrated Report 2020

INTEGRATED REPORT 2020 CIM FINANCIAL SERVICES LTD STATEMENT OF FINANCIAL POSITION Sep-20 MUR m ASSETS Cash and bank balances 283.3 Deposits with banks 510.2 Net investment in leases and other credit agreements 8,374.1 Loans and advances 5,076.0 Investments in financial assets 222.6 Other assets 384.3 Inventories 2.0 Investments in subsidiaries 167.1 Equipment 553.4 Right-of-use assets 189.3 Deferred tax assets 175.6 Intangible assets 103.9 Total assets 16,041.8 LIABILITIES Other borrowed funds 9,836.0 Other liabilities 1,375.9 Lease liabilities 209.3 Income tax liabilities 115.4 Post employment benefit liabilities 156.7 Deferred tax liabilities 3.2 Total liabilities 11,696.5 EQUITY Stated capital 680.5 Retained earnings 2,629.9 Revaluation and other reserves 1,034.9 Total equity 4,345.3 Total equity and liabilities 16,041.8 Explanatory Notes 30 SEPTEMBER 2020 35. EVENTS AFTER THE REPORTING DATE 36. CONTINGENT LIABILITIES GROUP & COMPANY Sep-20 MUR m Sep-19 MUR m Financial guarantee 112.0 20.0 112.0 20.0 On 1 October 2020 CIM Financial Services Ltd, has been granted approval to amalgamate with 5 wholly owned subsidiaries in view of streamlining the structure of the Group. The entities concerned are Cim Finance Ltd, Cim Agencies Ltd, Mauritian Eagle Leasing Company Limited, Cim Management Services Ltd, and Cim Shared Services Ltd. The surviving company is CIM Financial Services Ltd. The amalgamated Company’s assets and liabilities had the amalgamation already done at 30 Sept 2020 would have been as follows : At 30 September 2020, the Company had contingent liabilities in respect of guarantees from which it is anticipated that no material liabilities would arise. The Company has given corporate guarantees amounting to MUR112m (2019: MUR20m) on behalf of two wholly owned subsidiaries. 145