14. DEPOSITS WITH BANKS GROUP & COMPANY Sep-24 MUR m Sep-23 MUR m Deposit with banks 727.6 491.1 Expected credit loss (0.6) (0.4) 727.0 490.7 The deposit with banks is analysed as follows: Current 505.6 269.8 Non current 221.4 220.9 727.0 490.7 GROUP & COMPANY Gross carrying amount Stage 1 MUR m ECL Stage 1 MUR m At 1 October 2023 491.1 0.4 Additions 2,552.8 – Recovered/ matured (2,317.6) – Movement in ECL – 0.2 Exchange difference 1.3 – At 30 September 2024 727.6 0.6 At 1 October 2022 483.3 0.4 Additions 157.0 – Recovered/ matured (147.0) – Movement in ECL (2.2) – At 30 September 2023 491.1 0.4 The credit rating of the banks with which the Group and the Company have deposits are BBB for a total deposit of MUR 515.5m (2023: MUR 313.7m), BB for a total deposit of MUR 212.1m (2023: MUR 50.4m) and no deposit with banks having rating Baa3 (2023: MUR 127.1m). The Group Assets and Liabilities Committee (ALCO) discuss the credit ratings of counterparties on a regular basis and at the reporting date does not expect any losses from non-performance by the counterparties. The above deposits carry interest rates ranging between 2.80% and 5.30% and have maturity dates ranging from October 2024 to November 2026. All the deposits are performing and classified under stage 1. 157 Introduction Group Overview Leadership Strategy & Performance Risk Management Corporate Governance Statutory Disclosures Financial
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