154 C I M F I N A N C I A L S E R V I C E S L T D 16. LOANS AND ADVANCES (CONT’D) Explanatory Notes 30 SEPTEMBER 2021 E x p l a n a t o r y N o t e s (c) Factoring receivables (cont’d) (iv) Expected credit loss – Factoring receivables (cont’d) GROUP 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 Assets derecognised or repaid (excluding write offs) (0.8) (0.3) (2.5) (3.6) 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 (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). GROUP AND COMPANY 2021 Stage 1 Stage 2 Stage 3 TOTAL MUR m MUR m MUR m MUR m Performing 205.6 - - 205.6 Watchlist - 44.7 - 44.7 Non-performing - - 53.6 53.6 205.6 44.7 53.6 303.9 GROUP 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
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