Expected credit loss 2023 Stage 1 Stage 2 Stage 3 Total GROUP AND COMPANY MUR m MUR m MUR m MUR m At 1 October 2022 77.4 19.9 681.2 778.5 New assets originated or purchased 166.2 – – 166.2 Transfers on new assets originated or purchased (118.9) 3.6 115.3 – Assets derecognised or repaid (excluding write offs) (30.2) (2.7) (109.5) (142.4) Transfers to Stage 1 15.2 (3.3) (11.9) – Transfers to Stage 2 (2.0) 12.0 (10.0) – Transfers to Stage 3 (1.6) (2.4) 4.0 – Impact of year end ECL of exposures transferred between stages (13.7) (9.0) 66.5 43.8 Changes to estimates and assumptions used for ECL calculations 57.0 7.6 (19.2) 45.4 Amounts written off – (0.1) (156.2) (156.3) At 30 September 2023 149.4 25.6 560.2 735.2 2022 Stage 1 Stage 2 Stage 3 Total GROUP AND COMPANY MUR m MUR m MUR m MUR m At 1 October 2021 46.1 32.0 597.6 675.7 New assets originated or purchased 236.1 – – 236.1 Transfers on new assets originated or purchased (201.4) 6.2 195.2 – Assets derecognised or repaid (excluding write offs) (11.6) (1.8) (41.2) (54.6) Transfers to Stage 1 5.2 (2.1) (3.1) – Transfers to Stage 2 (1.6) 3.0 (1.4) – Transfers to Stage 3 (1.5) (2.6) 4.1 – Impact of year end ECL of exposures transferred between stages (3.8) (0.4) 90.6 86.4 Changes to estimates and assumptions used for ECL calculations 9.9 (14.4) 25.0 20.5 Amounts written off – – (185.6) (185.6) At 30 September 2022 77.4 19.9 681.2 778.5 The contractual amount outstanding were written off and are still subject to enforcement activity amounted to MUR 84.8m (2022: MUR 43.5m). Finance income on the net investment in the lease is disclosed in Note 5(a). The changes in the loss allowance are mainly explained by the fact that the Group and Company have adopted a prudent approach on the back of continued uncertainty and the inherent increase in credit risk. 151 OUR YEAR AT A GLANCE OUR PEOPLE GOVERNANCE FINANCIAL STATEMENTS
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