15 NET INVESTMENT IN LEASES AND OTHER CREDIT AGREEMENTS Continued Other credit agreements 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). 2023 Stage 1 Stage 2 Stage 3 Total GROUP AND COMPANY MUR m MUR m MUR m MUR m Performing 5,965.5 – – 5,965.5 Watchlist – 458.6 – 458.6 Non-performing – – 903.7 903.7 5,965.5 458.6 903.7 7,327.8 2022 Stage 1 Stage 2 Stage 3 Total GROUP AND COMPANY MUR m MUR m MUR m MUR m Performing 5,116.0 – – 5,116.0 Watchlist – 460.9 – 460.9 Non-performing – – 1,032.2 1,032.2 5,116.0 460.9 1,032.2 6,609.1 Gross carrying amount An analysis of changes in the gross carrying amount and the corresponding ECL allowances in relation to finance leases and other credit agreements is as follows: 2023 Stage 1 Stage 2 Stage 3 Total GROUP AND COMPANY MUR m MUR m MUR m MUR m At 1 October 2022 5,116.0 460.9 1,032.2 6,609.1 New assets originated or purchased 4,786.1 – – 4,786.1 Transfers on new assets originated or purchased (602.9) 284.4 318.5 – Assets derecognised or repaid (excluding write offs) (3,179.1) (253.4) (470.3) (3,902.8) Transfers to Stage 1 204.3 (162.9) (41.4) – Transfers to Stage 2 (201.9) 237.5 (35.6) – Transfers to Stage 3 (154.5) (105.7) 260.2 – Amounts written off (2.5) (2.2) (159.9) (164.6) At 30 September 2023 5,965.5 458.6 903.7 7,327.8 An analysis of changes in the gross carrying amount and the corresponding ECL allowances in relation to finance leases and other credit agreements is as follows: 2022 Stage 1 Stage 2 Stage 3 Total GROUP AND COMPANY MUR m MUR m MUR m MUR m At 1 October 2021 4,501.3 570.6 1,093.4 6,165.3 New assets originated or purchased 4,209.0 – – 4,209.0 Transfers on new assets originated or purchased (612.0) 285.0 327.0 – Assets derecognised or repaid (excluding write offs) (2,786.8) (275.8) (511.2) (3,573.8) Transfers to Stage 1 214.6 (179.0) (35.6) – Transfers to Stage 2 (224.5) 232.6 (8.1) – Transfers to Stage 3 (184.2) (170.7) 354.9 – Amounts written off (1.4) (1.8) (188.2) (191.4) At 30 September 2022 5,116.0 460.9 1,032.2 6,609.1 EXPLANATORY NOTES 30 SEPTEMBER 2023 150 CIM FINANCE ANNUAL REPORT
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