16 LOANS AND ADVANCES Continued (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). 2023 Stage 1 Stage 2 Stage 3 Total GROUP AND COMPANY MUR m MUR m MUR m MUR m Performing 288.7 – – 288.7 Watchlist – 8.7 – 8.7 Non-performing – – 23.9 23.9 288.7 8.7 23.9 321.3 2022 Stage 1 Stage 2 Stage 3 Total GROUP AND COMPANY 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 (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: 2023 Stage 1 Stage 2 Stage 3 Total GROUP AND COMPANY MUR m MUR m MUR m MUR m At 1 October 2022 268.0 16.8 22.2 307.0 New assets originated or purchased 101.4 – – 101.4 Transfers on new assets originated or purchased (8.8) 2.4 6.4 – Assets derecognised or repaid (excluding write offs) (70.0) (0.8) (9.4) (80.2) Transfers to Stage 1 10.9 (9.7) (1.2) – Transfers to Stage 2 (5.2) 5.8 (0.6) – Transfers to Stage 3 (6.8) (5.6) 12.4 – Amounts written off (0.8) (0.2) (5.9) (6.9) At 30 September 2023 288.7 8.7 23.9 321.3 EXPLANATORY NOTES 30 SEPTEMBER 2023 162 CIM FINANCE ANNUAL REPORT
RkJQdWJsaXNoZXIy MzQ3MjQ5