CIM FINANCE. INTEGRATED REPORT 2022 | 211 30 September 2021 - restated Carrying amounts Fair value Level 1 Level 2 Level 3 Total MUR m MUR m MUR m MUR m MUR m Financial assets not measured at fair value Net investment in leases and other credit agreements 7,787.0 - - 8,389.1 8,389.1 Loans and advances Credit facilities 5,923.4 - - 6,054.3 6,054.3 Corporate credit facilities 114.9 - - 130.0 130.0 Investments securities 127.7 - 127.7 - 127.7 13,953.0 - 127.7 14,573.4 14,701.1 Financial liabilities not measured at fair value Other borrowed funds 9,831.7 - - 9,831.7 9,831.7 9,831.7 - - 9,831.7 9,831.7 Financial instruments for which the fair value approximates the carrying amount Financial assets Cash at bank balances 341.8 Deposits with banks 426.1 Loans and advances Factoring receivables 123.4 Card receivables 262.6 Investments securities 0.8 Other assets 325.6 1,480.3 Financial liabilities Other liabilities 1,370.6 For financial assets and financial liabilities that have a short-termmaturity, the carrying amounts, which are net of impairment, represent a reasonable approximation of their fair value. Such instruments include cash and bank balances, deposits with banks, factoring and card receivables and other liabilities. The fair value of the net investment in leases and and other credit agreements, credit facilities, corporate credit facilities (included in loans and advances) and other borrowed funds are estimated using cash flow models discounted at the relevant discount rate taking into consideration credit risk, foreign exchange risk, of default and loss given default estimates. As a result, these balances fall under Level 3 of the fair value hierarchy. Market observable data is used when appropriate and when such data is not available, the Group uses historical experience. The discount rates used represent the market rates. Refer to Note 17 for further details regarding financial assets measured at fair value. The Companies’ financial assets and liabilities approximates its fair value as at 30 September 2021 and 2022. 44. FAIR VALUE OF FINANCIAL INSTRUMENTS (CONT’D) EXPLANATORY NOTES 30 SEPTEMBER 2022
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