Explanatory Notes 30 September 2024 15. NET INVESTMENT IN LEASES AND OTHER CREDIT AGREEMENTS continued Net investment in leases Credit quality 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). GROUP AND COMPANY 2024 Stage 1 MUR m Stage 2 MUR m Stage 3 MUR m Total MUR m Performing 3,849.5 – – 3,849.5 Watchlist – 124.6 – 124.6 Non-performing – – 152.7 152.7 3,849.5 124.6 152.7 4,126.8 GROUP AND COMPANY 2023 Stage 1 MUR m Stage 2 MUR m Stage 3 MUR m Total MUR m Performing 3 205.6 – – 3 205.6 Watchlist – 163.6 – 163.6 Non-performing – – 254.2 254.2 3 205.6 163.6 254.2 3 623.4 Gross carrying amount An analysis of changes in the gross carrying amount and the corresponding ECL allowances in relation to finance leases is as follows: GROUP AND COMPANY 2024 Stage 1 MUR m Stage 2 MUR m Stage 3 MUR m Total MUR m At 1 October 2023 3,205.6 163.6 254.2 3,623.4 New assets originated or purchased 1,615.9 46.6 11.8 1,674.3 Assets derecognised or repaid (excluding write offs) (1,016.6) (46.3) (102.9) (1,165.8) Transfers to Stage 1 127.9 (100.0) (27.9) – Transfers to Stage 2 (69.0) 90.7 (21.7) – Transfers to Stage 3 (13.6) (30.0) 43.6 – Amounts written off (0.7) – (4.4) (5.1) At 30 September 2024 3,849.5 124.6 152.7 4,126.8 160
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