Page 248 - Bank Muamalat_AR24

246 BANK MUAMALAT MALAYSIA BERHAD

NOTES TO THE FINANCIAL STATEMENTS
31 DECEMBER 2024 (29 JAMADIL AKHIR 1446H)

7. FINANCING OF CUSTOMERS (CONT’D.)

(ix) Movements in the loss allowance for financing of customers
Lifetime ECL Lifetime
not credit ECL credit
12 Months ECL impaired impaired
Stage 1 Stage 2 Stage 3 Total ECL
Group and Bank RM’000 RM’000 RM’000 RM’000

2024
At 1 January 2024 120,238 23,258 79,024 222,520
Transfer to Stage 1 14,360 (5,978) (8,382) -
Transfer to Stage 2 (10,476) 21,390 (10,914) -
Transfer to Stage 3 (14,601) (2,751) 17,352 -
Changes in credit risk (33,953) 1,896 184,380 152,323
New financing originated 60,777 - - 60,777
Financing derecognised (16,501) (576) (1,916) (18,993)
Amount written-off - - (161,355) (161,355)
At 31 December 2024 119,844 37,239 98,189 255,272

Lifetime ECL Lifetime
not credit ECL credit
12 Months ECL impaired impaired
Stage 1 Stage 2 Stage 3 Total ECL
RM’000 RM’000 RM’000 RM’000

2023
At 1 January 2023 128,896 25,667 103,918 258,481
Transfer to Stage 1 22,350 (16,303) (6,047) -
Transfer to Stage 2 (9,361) 13,428 (4,067) -
Transfer to Stage 3 (9,028) (3,346) 12,374 -
Changes in credit risk (47,784) 4,356 83,440 40,012
New financing originated 59,787 - 900 60,687
Financing derecognised (24,622) (544) (12,697) (37,863)
Amount written-off - - (98,797) (98,797)
At 31 December 2023 120,238 23,258 79,024 222,520