Enhanced Risk Culture We further embedded risk awareness across all levels of the organisation through phygital learning (a combination of digital and in-person learning initiatives) and investing in upskilling courses for our employees. Our people are now more empowered and better prepared to identify, assess, and escalate risks, leading to a more proactive risk management approach. Strengthening Operational Resilience We have strengthened our business continuity planning to ensure we are prepared to manage disruptions effectively. Additionally, we reviewed our business processes to enhance efficiency, ensure compliance, and address any gaps in controls while remaining adaptable to evolving market and regulatory conditions. Credit Asset Book Quality Our credit asset book experienced healthy growth this year, supported by disciplined risk management. We achieved improvements in both our Non-Performing Loans (NPLs) ratio and Expected Credit Losses (ECL). With a strong Tier 1 capital ratio, we remain well-positioned to navigate potential economic downturns or market challenges. Cyber-security Resilience We expanded our cybersecurity initiatives by aligning our technology and cybersecurity risk framework with the Bank of Mauritius guidelines. Investments in robust protection systems were complemented by employee training on data protection, cyber hygiene, and phishing prevention, further strengthening our defences. Advancements in Digital Transformation Continuous and ongoing investments in data analytics and automation have enhanced the speed and accuracy of decision-making. Upgrades to our digital platform were also implemented to improve the customer experience, while maintaining risk within controlled thresholds. Risk Management Report “Embracing progress through the interconnectedness of our people, processes, and technology enhances risk management and ensures sustainable growth.” The ‘Key Achievements of 2024’ below highlight the progress made across critical areas. Highlights of the year from a risk lens Effective risk management is central to Cim Finance’s ability to achieve its strategic objectives, while also safeguarding its financial and operational stability. The Group’s robust risk management framework ensures that risks are identified, assessed, and mitigated proactively, enabling us to navigate an evolving economic landscape with agility and confidence. Throughout the year, volatile market trends and growing cybersecurity threats prompted us to focus on strengthening the credit portfolio, enhancing operational resilience, and expanding our cybersecurity measures to respond to increasingly sophisticated digital threats. Guided by a disciplined and prudent approach, we enhanced the credit quality and strengthened operational integrity across our portfolio, achieving positive outcomes despite challenging market conditions. Overall, the Group’s risk profile has improved compared to the last financial year, and remains within our defined risk appetite levels. While the economic outlook remains stable, the Group continues to monitor changes in the risk landscape. We continuously review and strengthen our risk management framework to ensure it remains adaptable and responsive to emerging challenges and supports sustainable growth. Key Achievements of 2024 76
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