Finance MUR m Investments MUR m Group elimination MUR m Total MUR m Year ended 30 September 2023 Interest income 2,888.5 347.5 (281.4) 2,954.6 Interest expense (620.7) (239.7) 281.4 (579.0) Net interest income 2,267.8 107.8 – 2,375.6 Lending and agency related income 416.5 14.1 – 430.6 Other income 102.3 106.6 (99.2) 109.7 Net operating income 2,786.6 228.5 (99.2) 2,915.9 Operating expenses (1,347.7) (235.7) 99.2 (1,484.2) Profit/(loss) before impairment 1,438.9 (7.2) – 1,431.7 Net impairment losses on financial assets (284.0) (44.2) – (328.2) Profit/(loss) after impairment 1,154.9 (51.4) – 1,103.5 Foreign exchange gain 4.6 0.9 – 5.5 Gain on bargain purchase – 18.5 – 18.5 Fair value on investment securities – 2.9 – 2.9 Share of results of associates – (3.2) – (3.2) Profit/(loss) before tax 1,159.5 (32.3) – 1,127.2 Income tax expense (165.8) (0.4) – (166.2) Profit/(loss) for the year 993.7 (32.7) – 961.0 Assets 21,576.6 7,323.8 (7,317.7) 21,582.7 Liabilities 16,899.7 6,184.9 (7,317.7) 15,766.9 Capital expenditure 232.2 0.8 – 233.0 Investment in associates – 14.0 – 14.0 Depreciation & amortisation 186.2 7.8 – 194.0 For management purposes, the Group is organised into two business segments based on the products and services as follows: Finance - consumer credit, leasing, card acquiring & issuing, insurance and factoring. Investments - strategy monitoring, support to SBUs, performance monitoring and statutory reporting. No operating segments have been aggregated to form the above reportable operating segments. Geographical information Revenue Sep-24 MUR m Sep-23 MUR m - From customers in Mauritius 4,096.2 3,447.1 - located in Kenya 53.4 47.8 4,149.6 3,494.9 Non-current assets* - located in Mauritius 630.7 634.4 - located in Kenya 2.8 1.5 633.5 635.9 * Non-current assets exclude financial instruments, deferred tax assets and post employment benefit assets. 40. IMMEDIATE AND ULTIMATE HOLDING COMPANY The immediate holding and ultimate holding companies of CIM Financial Services Ltd are Cim Holdings Ltd and Elgin Ltd respectively. Both companies are incorporated in Mauritius. 205 Introduction Group Overview Leadership Strategy & Performance Risk Management Corporate Governance Statutory Disclosures Financial
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