| CIM FINANCE. INTEGRATED REPORT 2022 150 EXPLANATORY NOTES 30 SEPTEMBER 2022 15. NET INVESTMENT IN LEASES AND OTHER CREDIT AGREEMENTS (CONT’D) Net investment in leases (Cont’d) Credit quality (Cont’d) GROUP AND COMPANY 2021 Stage 1 Stage 2 Stage 3 TOTAL MUR m MUR m MUR m MUR m Performing 1,766.8 - - 1,766.8 Watchlist - 443.3 - 443.3 Non-performing - - 291.9 291.9 1,766.8 443.3 291.9 2,502.0 GROUP 2022 Stage 1 Stage 2 Stage 3 TOTAL MUR m MUR m MUR m MUR m At 1 October 2021 As previously stated 1,772.3 444.7 292.8 2,509.8 Effect of prior year adjustment (note 39) (5.5) (1.4) (0.9) (7.8) As restated 1,766.8 443.3 291.9 2,502.0 Subsidiary acquired 900.2 88.2 62.1 1,050.5 New assets originated or purchased 759.4 45.9 3.0 808.3 Assets derecognised or repaid (excluding write offs) (866.9) (118.0) (101.7) (1,086.6) Transfers to Stage 1 325.0 (293.0) (32.0) - Transfers to Stage 2 (156.6) 212.3 (55.7) - Transfers to Stage 3 (34.1) (79.5) 113.6 - Amounts written off (0.3) (0.1) (29.1) (29.5) At 30 September 2022 2,693.5 299.1 252.1 3,244.7 COMPANY 2022 Stage 1 Stage 2 Stage 3 TOTAL MUR m MUR m MUR m MUR m At 1 October 2021 As previously stated 1,772.3 444.7 292.8 2,509.8 Effect of prior year adjustment (note 39) (5.5) (1.4) (0.9) (7.8) As restated 1,766.8 443.3 291.9 2,502.0 New assets originated or purchased 640.4 39.5 1.5 681.4 Assets derecognised or repaid (excluding write offs) (718.0) (104.7) (89.6) (912.3) Transfers to Stage 1 263.1 (249.7) (13.4) - Transfers to Stage 2 (115.4) 158.3 (42.9) - Transfers to Stage 3 (17.2) (53.9) 71.1 - Amounts written off (0.3) (0.1) (29.1) (29.5) At 30 September 2022 1,819.4 232.7 189.5 2,241.6 Gross carrying amount An analysis of changes in the gross carrying amount and the corresponding ECL allowances in relation to finance leases is as follows:
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