145 I N T E G R A T E D R E P O R T 2 0 2 1 Explanatory Notes 30 SEPTEMBER 2021 E x p l a n a t o r y N o t e s 15. NET INVESTMENT IN LEASES AND OTHER CREDIT AGREEMENTS (CONT’D) COMPANY 2021 Stage 1 Stage 2 Stage 3 TOTAL MUR m MUR m MUR m MUR m At 1 October 2020 - - - - Amalgamation adjustment 21.3 29.6 560.8 611.7 New assets originated or purchased 20.2 2.3 95.0 117.5 Assets derecognised or repaid (excluding write offs) (11.4) (9.7) (121.0) (142.1) Transfers to Stage 1 17.3 (8.7) (8.6) - Transfers to Stage 2 (1.2) 4.0 (2.8) - Transfers to Stage 3 (1.1) (7.4) 8.5 - Impact of year end ECL of exposures transferred between stages (15.7) (2.8) 71.9 53.4 Changes to estimates and assumptions used for ECL calculations 16.7 24.7 109.1 150.5 Amounts written off - - (115.3) (115.3) At 30 September 2021 46.1 32.0 597.6 675.7 GROUP 2020 Stage 1 Stage 2 Stage 3 TOTAL MUR m MUR m MUR m MUR m At 1 October 2019 14.0 2.8 337.0 353.8 New assets originated or purchased 4.5 - 254.4 258.9 Assets derecognised or repaid (excluding write offs) (5.7) (0.8) (26.7) (33.2) Transfers to Stage 1 1.4 (0.6) (0.8) - Transfers to Stage 2 (1.5) 1.9 (0.4) - Transfers to Stage 3 (1.2) (1.0) 2.2 - Impact of impairment losses and year end ECL of exposures transferred between stages 9.8 27.3 71.0 108.1 Amounts written off - - (75.9) (75.9) At 30 September 2020 21.3 29.6 560.8 611.7 Finance income on the net investment in the lease is disclosed in note 5(a). Undiscounted lease payments to be received amounts to MUR 2,509.8m (2020: MUR 3,011.3m) The changes in the loss allowance are mainly explained by the fact that the Group and Company have adopted a prudent approach on the back of continued uncertainty and the inherent increase in credit risks. GROUP COMPANY Sep-21 MUR m Sep-20 MUR m Sep-21 MUR m Sep-20 MUR m Credit facilities (a) 6,399.3 4,755.5 6,350.2 - Corporate credit facilities (b) 162.2 126.9 390.3 7,320.5 Factoring receivables (c) 139.0 219.4 139.0 - Card receivables (d) 303.9 315.4 303.9 - 7,004.4 5,417.2 7,183.4 7,320.5 Expected credit loss (580.1) (314.0) (595.1) (26.1) 6,424.3 5,103.2 6,588.3 7,294.4 16. LOANS AND ADVANCES
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