Explanatory Notes 30 September 2024 15. NET INVESTMENT IN LEASES AND OTHER CREDIT AGREEMENTS continued GROUP 2023 Stage 1 MUR m Stage 2 MUR m Stage 3 MUR m Total MUR m At 1 October 2022 37.1 18.5 109.8 165.4 New assets originated or purchased 36.8 – – 36.8 Transfers on new assets originated or purchased (17.0) 0.5 16.5 – Assets derecognised or repaid (excluding write offs) (15.2) (4.3) (35.8) (55.3) Transfers to Stage 1 12.2 (2.9) (9.3) – Transfers to Stage 2 (0.8) 6.1 (5.3) – Transfers to Stage 3 (0.9) (1.8) 2.7 – Impact of year end ECL of exposures transferred between stages (11.8) (4.9) 35.6 18.9 Changes to estimates and assumptions used for ECL calculations (1.2) – – (1.2) Amounts written off (0.2) (0.1) (4.9) (5.2) At 30 September 2023 39.0 11.1 109.3 159.4 COMPANY 2023 Stage 1 MUR m Stage 2 MUR m Stage 3 MUR m Total MUR m At 1 October 2022 22.4 16.2 82.1 120.7 Amalgamation Adjustment 14.6 2.3 27.8 44.7 New assets originated or purchased 36.8 – – 36.8 Transfers on new assets originated or purchased (17.0) 0.5 16.5 – Assets derecognised or repaid (excluding write offs) (15.2) (4.3) (35.8) (55.3) Transfers to Stage 1 12.2 (2.9) (9.3) – Transfers to Stage 2 (0.8) 6.1 (5.3) – Transfers to Stage 3 (0.9) (1.8) 2.7 – Impact of year end ECL of exposures transferred between stages (11.8) (4.9) 35.6 18.9 Changes to estimates and assumptions used for ECL calculations (1.2) – – (1.2) Amounts written off (0.2) (0.1) (4.9) (5.2) At 30 September 2023 38.9 11.1 109.4 159.4 Included in Finance leases an amount of repossessed assets of MUR 8.3m (2023: MUR 24.3m). During the year, a loss of MUR 0.9m (2023: MUR 1.3m) was incurred on sale of MUR 5.2m (2023: MUR 4.9m) of repossessed assets. 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). GROUP AND COMPANY 2024 Stage 1 MUR m Stage 2 MUR m Stage 3 MUR m Total MUR m Performing 7,047.6 – – 7,047.6 Watchlist – 423.4 – 423.4 Non-performing – – 870.9 870.9 7,047.6 423.4 870.9 8,341.9 162
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