Page 103 - Annual Report 2023

ANNUAL REPORT 2023 34
Notes to the Consolidated Financial Statements for the year ended 31 December 2023
(amounts in USD, unless otherwise stated)

The following table sets out the changes in in gross carrying amount of financial assets where impairment requirements apply (other
than loans to customers).

CHANGES IN GROSS CARRYING AMOUNT OF FINANCIAL ASSETS WHERE IMPAIRMENT REQUIREMENTS APPLY
(OTHER THAN LOANS TO CUSTOMERS)
31 December 2023 Due from Banks Investment Securities at FVOCI
Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total
Balance at 1 January 339,981,928 - - 339,981,928 1,253,800,492 20,718,381 38,496,204 1,313,015,077
2023
Transfer to Stage 1 - - - - - - - -
(from 2 or 3)
Transfer to Stage 2 - - - - (8,643,279) 8,643,279 - -
(from 1 or 3)
Transfer to Stage 3 - - - - - (18,003,036) 18,003,036 -
(from 1 or 2)
New financial assets 237,428,723 - - 237,428,723 502,533,218 - - 502,533,218
originated or purchased
Derecognition of (261,984,885) - - (261,984,885) (618,463,030) - - (618,463,030)
financial assets
Changes due to
modifications that (6,363,897) - - (6,363,897) (2,985,126) 9,232,777 138,589 6,386,240
did not result in
derecognition
Reclassification of - - - - - - - -
instruments
Write-offs - - - - - - - -
Foreign exchange and 3,602,414 - - 3,602,414 (22,876,757) 332,511 1,467,159 (21,077,087)
other changes
Gross Balance at 31 312,664,283 - - 312,664,283 1,103,365,518 20,923,912 58,104,988 1,182,394,418
December 2023

31 December 2023 Investment Securities at amortised cost Loan Commitments and financial guarantee contracts
Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total
Balance at 1 January 1,694,278,290 17,797,564 5,548,157 1,717,624,011 89,632,927 - - 89,632,927
2023
Transfer to Stage 1 - - - - - - - -
(from 2 or 3)
Transfer to Stage 2 - - - - - - - -
(from 1 or 3)
Transfer to Stage 3 - - - - - - - -
(from 1 or 2)
New financial assets 687,772,917 - - 687,772,917 32,034,605 104,925 104,877 32,244,407
originated or purchased
Derecognition of (226,207,179) (8,963,400) - (235,170,579) (19,941,057) - - (19,941,057)
financial assets
Changes due to
modifications that (6,166,333) (9,154,895) 68,522 (15,252,706) (1,496,816) 55,291 - (1,441,525)
did not result in
derecognition
Reclassification of - - - - - - - -
instruments
Write-offs - - - - - - - -
Foreign exchange and 166,923,919 320,731 117,927 167,362,577 2,719,342 - - 2,719,342
other changes
Gross Balance at 31 2,316,601,614 - 5,734,606 2,322,336,220 102,949,001 160,216 104,877 103,214,094
December 2023
The gross carrying amounts include only Nominal amounts. Unamortized discount; Accrued interest and Marked to market gain/ (loss) are not included.