A B C D E F G
1
1
 2019 2018 2017
2
 MUR'000 MUR'000 MUR'000
3
4
 Financial guarantees 353,258 649,276 729,637
5
 Letters of credit 208,486 225,412 92,891
6
 Bills for collection 323,703 121,546 116,736
7
 Undrawn commitments to lend 1,093,881 1,102,424 706,166
8
 1,979,328 2,098,658 1,645,430
9
10
 Financial guarantee contracts and loan commitments
11
 The allowance for impairment losses on off balance sheet items is classified under other liabilities. T
12
 The table below shows the credit quality and the maximum exposure to credit risk based on the Bank's internal credit rating system and year-end stage classification. The amounts presented are gross of impairment allowances.
13
 External rating grade
Stage 1 Stage 2 Stage 3 Total
14
 MUR'000 MUR'000 MUR'000 MUR'000
15
 Performing:
16
 Credit rating AAA 40 - - 40
17
 Credit rating BBB+ to BBB- 3,535 - - 3,535
18
 Credit rating BB+ to BB- 528,751 - - 528,751
19
 Credit rating B+ to B- 347,710 - - 347,710
20
 Credit rating CCC+ to C - 4,615 - 4,615
21
 Non performing:
22
 Credit rating D - - 796 796
23
 Total gross carrying amount 880,036 4,615 796 885,447
24
 Loss allowance (10,411) (65) - (10,476)
25
 Carrying amount 869,625 4,550 796 874,971
26
27
An analysis of changes in the gross carrying amount and the corresponding ECLs is, as follows:
28
 Financial guarantee contracts and loan commitments Stage 1 Stage 2 Stage 3
29
 12-months
ECL		 Lifetime ECL Lifetime
ECL		 Total
30
 MUR'000 MUR'000 MUR'000 MUR'000
31
 Total amount guaranteed as at 30 June 2018 1,195,295 - 3,095 1,198,390
32
 Changes in the amount guaranteed:
33
 Transfer to stage 3 (31) - 31 -
34
 New financial guarantees 195,304 - - 195,304
35
 Financial guarantee derecognised (177,533) - (1,690) (179,223)
36
 New letter of credit issued 163,871 4,615 - 168,486
37
 Letter of credit derecognised (185,412) - - (185,412)
38
 Other changes (311,458) - (640) (312,098)
39
 Gross carrying amount at 30 June 2019 880,036 4,615 796 885,447
40
41
 Stage 1 Stage 2 Stage 3
42
 Loss allowance - Financial guarantee contracts 12-months ECL Lifetime ECL Lifetime
ECL		 Total
43
 MUR'000 MUR'000 MUR'000 MUR'000
44
 Loss allowance as at 01 July 2018
 10,086 - - 10,086
45
 Changes in the loss allowance
46
 Transfer to stage 3 (31) - 31 -
47
 Increases due to change in credit risk 34 - - 34
48
 Decreases due to change in credit risk (150) - - (150)
49
 New financial guarantees 3,875 - - 3,875
50
 Financial guarantee derecognised (2,588) - - (2,588)
51
 New letter of credit issued 1,018 65 - 1,083
52
 Other movements (580) - - (580)
53
 Expected credit loss as at 30 June 2019 (1,253) - (31) (1,284)
54
 10,411 65 - 10,476
A B C D E F G
1
 2019 2018 2017
2
 MUR'000 MUR'000 MUR'000
3
4
 Financial guarantees 353,258 649,276 729,637
5
 Letters of credit 208,486 225,412 92,891
6
 Bills for collection 323,703 121,546 116,736
7
 Undrawn commitments to lend 1,093,881 1,102,424 706,166
8
 1,979,328 2,098,658 1,645,430
9
10
 Financial guarantee contracts and loan commitments
11
 The allowance for impairment losses on off balance sheet items is classified under other liabilities. T
12
 The table below shows the credit quality and the maximum exposure to credit risk based on the Bank's internal credit rating system and year-end stage classification. The amounts presented are gross of impairment allowances.
13
 External rating grade
Stage 1 Stage 2 Stage 3 Total
14
 MUR'000 MUR'000 MUR'000 MUR'000
15
 Performing:
16
 Credit rating AAA 40 - - 40
17
 Credit rating BBB+ to BBB- 3,535 - - 3,535
18
 Credit rating BB+ to BB- 528,751 - - 528,751
19
 Credit rating B+ to B- 347,710 - - 347,710
20
 Credit rating CCC+ to C - 4,615 - 4,615
21
 Non performing:
22
 Credit rating D - - 796 796
23
 Total gross carrying amount 880,036 4,615 796 885,447
24
 Loss allowance (10,411) (65) - (10,476)
25
 Carrying amount 869,625 4,550 796 874,971
26
27
An analysis of changes in the gross carrying amount and the corresponding ECLs is, as follows:
28
 Financial guarantee contracts and loan commitments Stage 1 Stage 2 Stage 3
29
 12-months ECL Lifetime ECL Lifetime ECL Total
30
 MUR'000 MUR'000 MUR'000 MUR'000
31
 Total amount guaranteed as at 30 June 2018 1,195,295 - 3,095 1,198,390
32
 Changes in the amount guaranteed:
33
 Transfer to stage 3 (31) - 31 -
34
 New financial guarantees 195,304 - - 195,304
35
 Financial guarantee derecognised (177,533) - (1,690) (179,223)
36
 New letter of credit issued 163,871 4,615 - 168,486
37
 Letter of credit derecognised (185,412) - - (185,412)
38
 Other changes (311,458) - (640) (312,098)
39
 Gross carrying amount at 30 June 2019 880,036 4,615 796 885,447
40
41
 Stage 1 Stage 2 Stage 3
42
 Loss allowance - Financial guarantee contracts 12-months ECL Lifetime ECL Lifetime ECL Total
43
 MUR'000 MUR'000 MUR'000 MUR'000
44
 Loss allowance as at 01 July 2018
 10,086 - - 10,086
45
 Changes in the loss allowance
46
 Transfer to stage 3 (31) - 31 -
47
 Increases due to change in credit risk 34 - - 34
48
 Decreases due to change in credit risk (150) - - (150)
49
 New financial guarantees 3,875 - - 3,875
50
 Financial guarantee derecognised (2,588) - - (2,588)
51
 New letter of credit issued 1,018 65 - 1,083
52
 Letter of credit derecognised (580) - - (580)
53
 Other movements (1,253) - (31) (1,284)
54
 Expected credit loss as at 30 June 2019 10,411 65 - 10,476
A B C D E F G
1
 2019 2018 2017
2
 MUR'000 MUR'000 MUR'000
3
4
 Financial guarantees 353,258 649,276 729,637
5
 Letters of credit 208,486 225,412 92,891
6
 Bills for collection 323,703 121,546 116,736
7
 Undrawn commitments to lend 1,093,881 1,102,424 706,166
8
 1,979,328 2,098,658 1,645,430
9
10
 Financial guarantee contracts and loan commitments
11
 The allowance for impairment losses on off balance sheet items is classified under other liabilities. T
12
 The table below shows the credit quality and the maximum exposure to credit risk based on the Bank's internal credit rating system and year-end stage classification. The amounts presented are gross of impairment allowances.
13
 External rating grade
Stage 1 Stage 2 Stage 3 Total
14
 MUR'000 MUR'000 MUR'000 MUR'000
15
 Performing:
16
 Credit rating AAA 40 - - 40
17
 Credit rating BBB+ to BBB- 3,535 - - 3,535
18
 Credit rating BB+ to BB- 528,751 - - 528,751
19
 Credit rating B+ to B- 347,710 - - 347,710
20
 Credit rating CCC+ to C - 4,615 - 4,615
21
 Non performing:
22
 Credit rating D - - 796 796
23
 Total gross carrying amount 880,036 4,615 796 885,447
24
 Loss allowance (10,411) (65) - (10,476)
25
 Carrying amount 869,625 4,550 796 874,971
26
27
An analysis of changes in the gross carrying amount and the corresponding ECLs is, as follows:
28
 Financial guarantee contracts and loan commitments Stage 1 Stage 2 Stage 3
29
 12-months ECL Lifetime ECL Lifetime ECL Total
30
 MUR'000 MUR'000 MUR'000 MUR'000
31
 Total amount guaranteed as at 30 June 2018 1,195,295 - 3,095 1,198,390
32
 Changes in the amount guaranteed:
33
 Transfer to stage 3 (31) - 31 -
34
 New financial guarantees 195,304 - - 195,304
35
 Financial guarantee derecognised (177,533) - (1,690) (179,223)
36
 New letter of credit issued 163,871 4,615 - 168,486
37
 Letter of credit derecognised (185,412) - - (185,412)
38
 Other changes (311,458) - (640) (312,098)
39
 Gross carrying amount at 30 June 2019 880,036 4,615 796 885,447
40
41
 Stage 1 Stage 2 Stage 3
42
 Loss allowance - Financial guarantee contracts 12-months ECL Lifetime ECL Lifetime ECL Total
43
 MUR'000 MUR'000 MUR'000 MUR'000
44
 Loss allowance as at 01 July 2018
 10,086 - - 10,086
45
 Changes in the loss allowance
46
 Transfer to stage 3 (31) - 31 -
47
 Increases due to change in credit risk 34 - - 34
48
 Decreases due to change in credit risk (150) - - (150)
49
 New financial guarantees 3,875 - - 3,875
50
 Financial guarantee derecognised (2,588) - - (2,588)
51
 New letter of credit issued 1,018 65 - 1,083
52
 Other movements (580) - - (580)
53
 Expected credit loss as at 30 June 2019 (1,253) - (31) (1,284)
54
 10,411 65 - 10,476