| CIM FINANCE. INTEGRATED REPORT 2022 166 EXPLANATORY NOTES 30 SEPTEMBER 2022 16. LOANS AND ADVANCES (CONT’D) (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). (ii) Gross carrying amount - Card receivables An analysis of changes in the gross carrying amount and the corresponding ECL allowances in relation to Credit facilities is as follows: GROUP 2022 Stage 1 Stage 2 Stage 3 TOTAL MUR m MUR m MUR m MUR m At 1 October 2021 205.6 44.7 53.6 303.9 New assets originated or purchased 85.3 4.4 5.0 94.7 Assets derecognised or repaid (excluding write offs) (70.0) (2.1) (2.6) (74.7) Transfers to Stage 1 56.5 (36.9) (19.6) - Transfers to Stage 2 (5.6) 10.4 (4.8) - Transfers to Stage 3 (3.5) (3.0) 6.5 - Amounts written off (0.3) (0.7) (15.9) (16.9) At 30 September 2022 268.0 16.8 22.2 307.0 COMPANY 2022 Stage 1 Stage 2 Stage 3 TOTAL MUR m MUR m MUR m MUR m At 1 October 2021 Amalgamation adjustment 205.6 44.7 53.6 303.9 New assets originated or purchased 85.3 4.4 5.0 94.7 Assets derecognised or repaid (excluding write offs) (70.0) (2.1) (2.6) (74.7) Transfers to Stage 1 56.5 (36.9) (19.6) - Transfers to Stage 2 (5.6) 10.4 (4.8) - Transfers to Stage 3 (3.5) (3.0) 6.5 - Amounts written off (0.3) (0.7) (15.9) (16.9) At 30 September 2022 268.0 16.8 22.2 307.0 GROUP AND COMPANY 2022 Stage 1 Stage 2 Stage 3 TOTAL MUR m MUR m MUR m MUR m Performing 268.0 - - 268.0 Watchlist - 16.8 - 16.8 Non-performing - - 22.2 22.2 268.0 16.8 22.2 307.0 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
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