15 NET INVESTMENT IN LEASES AND OTHER CREDIT AGREEMENTS Continued Net investment in leases Continued 2022 Stage 1 Stage 2 Stage 3 Total GROUP MUR m MUR m MUR m MUR m At 1 October 2021 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 808.3 – – 808.3 Transfers on new assets originated or purchased (48.9) 45.9 3.0 – 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 2022 Stage 1 Stage 2 Stage 3 Total COMPANY MUR m MUR m MUR m MUR m At 1 October 2021 1,766.8 443.3 291.9 2,502.0 New assets originated or purchased 681.4 – – 681.4 Transfers on new assets originated or purchased (41.0) 39.5 1.5 – 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 Expected credit loss 2023 Stage 1 Stage 2 Stage 3 Total GROUP MUR m MUR m MUR m MUR m At 1 October 2022 37.1 18.5 109.8 165.4 New assets originated or purchased 36.8 – – 36.8 Transfers on new assets originated or purchased (17.0) 0.5 16.5 – Assets derecognised or repaid (excluding write offs) (15.2) (4.3) (35.8) (55.3) Transfers to Stage 1 12.2 (2.9) (9.3) – Transfers to Stage 2 (0.8) 6.1 (5.3) – Transfers to Stage 3 (0.9) (1.8) 2.7 – Impact of year end ECL of exposures transferred between stages (11.8) (4.9) 35.6 18.9 Changes to estimates and assumptions used for ECL calculations (1.2) – – (1.2) Amounts written off (0.2) (0.1) (4.9) (5.2) At 30 September 2023 39.0 11.1 109.3 159.4 EXPLANATORY NOTES 30 SEPTEMBER 2023 148 CIM FINANCE ANNUAL REPORT
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