Expected credit loss GROUP AND COMPANY 2024 Stage 1 MUR m Stage 2 MUR m Stage 3 MUR m Total MUR m At 1 October 2023 149.4 25.6 560.2 735.2 New assets originated or purchased 125.2 17.6 167.2 310.0 Assets derecognised or repaid (excluding write offs) (61.0) (5.9) (87.1) (154.0) Transfers to Stage 1 42.8 (8.3) (34.5) – Transfers to Stage 2 (4.2) 16.0 (11.8) – Transfers to Stage 3 (4.8) (6.1) 10.9 – Impact of year end ECL of exposures transferred between stages (39.0) (10.5) 94.1 44.6 Changes to estimates and assumptions used for ECL calculations (72.1) (8.0) (14.1) (94.2) Amounts written off – (0.1) (148.3) (148.4) At 30 September 2024 136.3 20.3 536.6 693.2 GROUP AND COMPANY 2023 Stage 1 MUR m Stage 2 MUR m Stage 3 MUR m Total 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 The contractual amount outstanding which were written off and are still subject to enforcement activity amounted to MUR 40.4m (2023: MUR 84.8m). Interest income on the net investment in the lease is disclosed in Note 5(a). The changes in the loss allowance are mainly explained by a robust credit policy and an effective collection and recovery. Explanatory Notes 30 September 2024 15. NET INVESTMENT IN LEASES AND OTHER CREDIT AGREEMENTS continued 164
RkJQdWJsaXNoZXIy MzQ3MjQ5