Bank of Mauritius Guideline on Public Disclosure of Information

BOM/BSD 9/November 2002
BANK OF MAURITIUS
Guideline on
Public Disclosure of Information
November 2002
Revised July 2008
Revised November 2009

TABLE OF CONTENTS
INTRODUCTION.................................................................................................... 5
PURPOSE .............................................................................................................5
AUTHORITY...........................................................................................................5
SCOPE OF APPLICATION .............................................................................................5
PREVIOUS GUIDELINE SUPERSEDED ................................................................................5
EFFECTIVE DATE .....................................................................................................5
INTERPRETATION ....................................................................................................5
STRUCTURE OF THE GUIDELINE .....................................................................................6
SECTION I - GENERAL CONSIDERATIONS............................................................. 7
DISCLOSURE POLICY ................................................................................................7
VALIDATION..........................................................................................................7
FREQUENCY OF DISCLOSURES ......................................................................................7
INTERACTION WITH OTHER REQUIREMENTS........................................................................7
SECTION II - MANAGEMENT DISCUSSION AND ANALYSIS ................................... 8
FINANCIAL REVIEW ..................................................................................................8
Performance against objectives .........................................................................8
Review by business lines/segments....................................................................9
Financial ratios and data on credit .....................................................................9
Revenue growth ..........................................................................................9
Cost control.............................................................................................. 10
Credit exposure......................................................................................... 10
Credit quality ............................................................................................ 10
RISK MANAGEMENT POLICIES AND CONTROLS ................................................................... 11
CONCENTRATION OF RISK POLICIES.............................................................................. 11
RELATED PARTY TRANSACTIONS POLICIES AND PRACTICES..................................................... 11
STATEMENT OF CORPORATE GOVERNANCE PRACTICES .......................................................... 12
SECTION III – BASEL II DISCLOSURES .............................................................. 13
CAPITAL STRUCTURE AND ADEQUACY ............................................................................ 13
PILLAR 3 DISCLOSURES........................................................................................... 13
INTERACTION WITH ACCOUNTING DISCLOSURES ................................................................ 13
MATERIALITY....................................................................................................... 13
FREQUENCY OF PILLAR 3 DISCLOSURES ......................................................................... 14
PROPRIETARY AND CONFIDENTIAL INFORMATION................................................................ 14
GENERAL DISCLOSURE PRINCIPLES............................................................................... 14
SCOPE OF APPLICATION ........................................................................................... 15
Qualitative disclosures ............................................................................ 15
CAPITAL ............................................................................................................ 15
Capital structure ........................................................................................... 15
Qualitative disclosures ............................................................................ 15
Quantitative disclosures .......................................................................... 16
Capital adequacy........................................................................................... 16
Qualitative disclosures ............................................................................ 16
Quantitative disclosures .......................................................................... 16
RISK EXPOSURE AND ASSESSMENT............................................................................... 17
General qualitative disclosure requirements ...................................................... 17
Credit risk.................................................................................................... 17
General disclosures.................................................................................... 17
Qualitative disclosures ............................................................................ 17
Quantitative disclosures .......................................................................... 17
Credit risk: Standardised Approach .............................................................. 18
Qualitative disclosures ............................................................................ 18
Quantitative disclosures .......................................................................... 19
Credit risk mitigation.................................................................................. 19
Qualitative disclosures ............................................................................ 19
Quantitative disclosures .......................................................................... 19
Market risk................................................................................................... 19
Qualitative disclosures ............................................................................ 19

Quantitative disclosures .......................................................................... 19
Operational risk ............................................................................................ 19
Qualitative disclosures ............................................................................ 20
Interest rate risk in the banking book............................................................... 20
Qualitative disclosures ............................................................................ 20
Quantitative disclosures .......................................................................... 20
Equities: disclosure for banking book positions .................................................. 20
Qualitative disclosures ............................................................................ 20
Quantitative disclosures .......................................................................... 20
SECTION IV - FINANCIAL STATEMENTS.............................................................. 22
ADDITIONAL INFORMATION TO BE DISCLOSED BY BANKS ONLY ................................................ 22
SECTION V - QUARTERLY REPORTS .................................................................... 23
ANNEX 1 ............................................................................................................. 24

INTRODUCTION
The reporting of comprehensive, meaningful and accurate information in a timely manner provides strong market discipline on financial institutions to manage their activities and risk exposures prudently and consistently with their stated objectives. The extent and level of disclosure is of fundamental importance to market participants in making accurate assessment of an institution’s financial condition, performance, business activities, risk profile and risk management practices. Purpose The purpose of this guideline is to set out the minimum disclosure standards which financial institutions are required to adopt in respect of information to be disclosed in their annual financial statements and their annual reports, which shall also be posted on their websites. Authority This guideline is issued under the authority of Section 100 of the Banking Act 2004 and Section 50 of the Bank of Mauritius Act 2004. Scope of application The guideline, with the exception of Section III which applies exclusively to banks, applies to both banks and non-bank deposit taking institutions. Previous guideline superseded This guideline supersedes the previous Guideline on Public Disclosure of Information issued in November 2002. Effective date This guideline shall come into effect on 31 December 2008 and shall apply to annual reports, annual financial statements and quarterly financial statements as of that or a subsequent date. However, financial institutions have the option of adopting this guideline as from an earlier date. Interpretation Terms used in this guideline have the following meanings:
“bank” has the same meaning as in the Banking Act 2004; “financial institution” means a bank or a non-bank deposit taking institution licensed under the Banking Act 2004.

Structure of the guideline
There are five sections in this guideline:
Section I - General considerations;
Section II - Management Discussion and Analysis;
Section III – Basel II disclosures;
Section IV - Financial statements; and
Section V - Quarterly reports.

SECTION I - GENERAL CONSIDERATIONS
Disclosure policy

1. Financial institutions shall have a formal disclosure policy approved and
   periodically reviewed by the board of directors that addresses their approach for determining disclosures and the internal controls over the disclosure process. In addition, financial institutions shall implement a process for assessing the appropriateness of their disclosures, including their validation and frequency. Validation
2. Financial institutions shall ensure that disclosures, other than those made in
   the financial statements, are appropriately verified and are consistent with information published in their audited financial statements, and that reasonable steps are taken to ensure that the information is not false or misleading in any material respect.
3. Those disclosures shall not be generally required to be audited by an
   external auditor. The Bank may, however, require an independent audit of a financial institution’s disclosures in exceptional circumstances, including situations where the Bank believes that the disclosed information is incorrect and/or misleading. Frequency of disclosures
4. A financial institution shall make disclosures in accordance with this guideline
   in respect of its last financial year, with comparative figures for two previous years, unless otherwise specified. Interaction with other requirements
5. Where
   (a) a financial institution makes a disclosure pursuant to a requirement other than a requirement under this guideline; and (b) that requirement is similar, in whole or in part, to a requirement under this guideline; the financial institution shall be deemed to be compliant with the requirements of this guideline provided it demonstrates to the satisfaction of the Bank that (i) the disclosure substantially complies with the requirements of this guideline; and (ii) its disclosure statement adequately explains, or is accompanied by information which adequately explains, any material variation in the two disclosure requirements.

SECTION II - MANAGEMENT DISCUSSION AND ANALYSIS
6. Management Discussion and Analysis (MDA), which forms part of a financial
institution’s annual report, enhances transparency and comparability of its policies, strategies and practices in different areas of its performance and asset value. The scope of information and the level of disaggregation and detail in the MDA should be commensurate with the size and nature of the financial institution’s operations. MDA should as a minimum cover the following areas:
(a) financial review;
(b) risk management policies and controls; (c) concentration of risk policies; (d) related party transactions policies and practices; and (e) statement of corporate governance practices. A financial institution is free to add to the required disclosures if it considers that additional disclosures would enhance the value of the annual report.
7. In view of the uncertainties inherent in the forecasts and projections
contained in the MDA, it is prudent to preface it with a cautionary note to the reader. The note should indicate that the MDA includes forward-looking statements and that risks exist that forecasts, projections and assumptions contained therein may not materialise and that actual results may vary materially from the plans and expectations. The note should also state that the financial institution has no plan to update any forward-looking statements periodically. The reader should, therefore, stand cautioned not to place any undue reliance on such forecasts. Financial review
8. This section should start with an overview of the financial institution’s
performance against objectives, including a description of internal and external events and/or activities that have affected the financial institution’s performance in achieving its strategies and goals. Performance against objectives
9. The performance against objectives overview could be set out in the form of
a table with four columns under the following headings:
(a) area of performance;
(b) current year’s objective;
(c) current year’s performance; and
(d) next year’s objective.
The areas of performance should include, as a minimum:
(a) revenue growth;

(b) expense growth (operating expense growth compared to operating revenue growth); (c) productivity (ratio of non-interest expenses to net interest income plus other income); (d) return on equity; (e) return on average assets ; (f) portfolio quality (ratio of specific provision for credit losses to average loans; ratio of net impaired loans to average loans); and (g) capital management (Tier 1 and total capital ratios). An analysis of the results including explanations of significant variations from previously disclosed goals, objectives or targets should be provided. Review by business lines/segments
10. The summary information in paragraph 9 should be expanded by individual
business lines/segments of the financial institution. Comparative data for two years should be provided unless otherwise indicated. The analysis accompanying the data should cover factors accounting for any growth or lack thereof, variability of profits over time, and should provide other relevant information to assist market participants in appreciating the financial institution’s performance. The analysis should also provide an indication of the extent to which current year results would likely impact future prospects. In assessing the sustainability of profits, it is important that the impact of any acquisitions or discontinuance of a line of business during the year be disclosed. Financial ratios and data on credit
11. Ratios relating to revenue growth and cost control, and data on credit
exposure by industry, credit quality and credit concentration should be provided. Paragraphs 13 to 25 below give an indication of the granularity of the information required. There should be a ‘highlights’ caption, with the salient data/ratios comparing the current year’s experience with that of the preceding year. This should be followed by an ‘outlook’ caption, giving projections for the following year. Revenue growth
12. Comparative data for net interest margin, i.e. the ratio of net interest
income2 to total average interest earning assets, and net interest income to total average assets should be provided. In support of these ratios, a breakdown of interest income, interest expense, related assets, and related liabilities should be given. Further, comparative data for core revenue should be provided. The narrative in support of the ratios should describe the reasons for any significant fluctuations or trends. 1 Average assets are defined as the average assets over a period of twelve months. 2 Net interest income is defined as interest income minus interest expense. 3 Core data means data after elimination of the effects of any unusual, non-operational items. Core revenue is defined as net interest income plus core non-interest revenue.

13. Comparative data for the principal components of non-interest revenue and
    explanations on any significant changes in their relative importance and overall performance should be provided in tabular form. Cost control
14. The financial institution shall provide comparative data on non-interest
    expenses, explaining any significant movements from year to year as well as any changes in the productivity ratio . Credit exposure
15. Data by industry sector, domestic versus international, on total credit
    exposure, including exposures from lending, trading, investment and off￾balance sheet activities should be provided. The comparative information should be properly segmented (e.g. lending, trading) and where appropriate, potential future exposures by different segments should be identified. Credit quality
16. Data on credit quality should be given by year over a period of three years,
    with a narrative on important events and variations from period to period, unless it is established to be unfeasible.
17. A breakdown of loans, non-performing loans, and provision for credit
    impairment by industry sector, and domestic versus international should be provided. The percentages of non-performing loans to total loans, allowances for credit impairment to non-performing loans, and as a proportion of total loans should be set out by industry sector and domestic versus international.
18. Information on credits that have been restructured during the year should be
    disclosed in aggregate, giving the balance of the restructured loans, the basic nature of concessions granted, the impact of restructured credit arrangements on allowance for credit impairment and on present and future earnings, using the discounting approach outlined in the Guideline on Credit Impairment Measurement and Income Recognition.
19. Data on allowances for credit impairment, with separate disclosures for the
    amounts of specific and collective/portfolio allowances and general provisions for impairment, for the current year by industry sector, domestic versus international should be presented in tabular form. More specifically, the table should contain information on allowance at the beginning of the year, provision for credit impairment for the year, loans written off, recoveries, and allowance at the end of the year. Similar information on allowance for credit impairment for off-balance sheet items should be provided separately. The ratios of net write-offs to total loans, allowance for credit impairment to non-performing loans and to total loans should be provided.
20. Reference should be made to the regulatory requirements of the Guideline
    on Credit Impairment Measurement and Income Recognition in the notes to the financial statements. 4 Productivity ratio is the ratio of non-interest expenses to net interest income plus other income.

Risk management policies and controls
21. Each financial institution shall identify and describe the risks that are
significant to its business. These include but are not limited to credit risk, interest rate risk, foreign exchange risk, liquidity risk and operational risk. Some institutions may be exposed to country risk, including the risk for repatriation of funds. The financial institution shall describe the way in which it monitors and controls such risks. It shall provide sufficient qualitative and quantitative data (position data) to help market participants understand the nature and extent of its exposures.
22. The financial institution shall discuss the extent of any significant exposures
to areas where there has recently been, or there is potential for, significant loss due to industry sector specific factors or general industry recession and outline the steps it has taken to contain the risks.
23. The financial institution shall describe its management structure for
controlling risks. It shall disclose the role of its board of directors in approving and periodically reviewing risk management policies, ensuring employment of competent and qualified persons to control and manage risks, and reviewing reports from management to ensure the adequacy of the institution’s risk profile and controls. Concentration of risk policies
24. The financial institution shall provide information on its credit concentration
experience. Information on six most significant individual concentration cases (in respect of one customer or group of related customers), with the characteristics of exposures and magnitude related to the financial institution’s capital base should also be given, to the extent that it is not commercially confidential information.
25. Reference should be made to the provisions of the Guideline on Credit
Concentration Limits and the financial institution should indicate that its policies and practices are governed by the requirements of the guideline. Related party transactions policies and practices
26. The financial institution shall disclose its policies with respect to related party
transactions, and discuss the role of the board, the Conduct Review and Risk Policy Committee, and management in the development, implementation and monitoring of its policies.
27. The financial institution shall provide aggregated data on its on- and off￾balance sheet credit exposure to related parties relative to its exposure to all
customers, stating also the proportions. It shall also indicate the proportion of credit exposure to related parties that has become non-performing by year for three years.
28. The financial institution shall further disclose the amount of exposure to six
related parties with the highest exposures, giving also the percentages of such exposures to its Tier 1 capital.
29. Reference should be made to the provisions of the Guideline on Related
Party Transactions.

Statement of corporate governance practices
30. The financial institution shall disclose on an annual basis its approach to
corporate governance in accordance with the requirements of the Guideline on Corporate Governance in its annual report.
31. The financial institution shall outline the processes in place for receiving
shareholder feedback on its activities and for dealing with shareholder concerns.

SECTION III – BASEL II DISCLOSURES
Many of the concepts used in this section are explained in greater detail in guidelines issued by the Bank in connection with the implementation of the Basel II framework. This section should therefore be read in conjunction with those guidelines5 . Capital structure and adequacy
32. The regulatory requirements for the maintenance of capital should be
outlined. The components of Tier 1 and Tier 2 capital should be shown in tabular form. The significance of any movements in the capital structure should be discussed. A description of the calculation of Tier 1 and Total capital ratios should also be given, along with the bank’s performance over three years in Tier 1 and Total capital ratios. Details should be provided in tabular form on how risk-weighted assets of the bank are determined by applying prescribed risk weights to on- and off-balance sheet assets, according to the credit risk of the counterparty. Pillar 3 disclosures The following paragraphs relate to the disclosure requirements under Pillar 3 of the Basel II framework. The objective of Pillar 3 is to add a risk perspective to disclosure and to provide information about banks' capital structure and solvency.
33. Where disclosure is a qualifying criterion under Pillar 1 to obtain lower risk
weights and/or to apply specific methodologies, there would be a direct sanction; banks would not be allowed to apply the lower risk weight or the specific methodology in case of non-disclosure. Interaction with accounting disclosures
34. In situations where the disclosures are made under accounting requirements
or to satisfy listing requirements, banks may rely on them to fulfil the applicable Pillar 3 expectations. However, banks shall provide explanations in cases where there are material differences between the accounting or other disclosure and the supervisory basis of disclosure6 .
35. For those disclosures that are not mandatory under accounting or other
requirements, banks shall publish the Pillar 3 information on their websites and in their annual reports. Materiality
36. Banks should decide which disclosures are relevant for them based on the
materiality concept7
. Qualitative judgement may be necessary to decide 5 Available at http://bom.intnet.mu. 6 This disclosure does not have to take the form of a line by line consolidation. Information would be regarded as material if its omission or misstatement could change or influence the assessment or decision of a user relying on that information for the purpose of making economic decisions.

whether a user of financial information would consider it material for making economic decisions (user test). Frequency of Pillar 3 disclosures
37. Disclosures under Pillar 3 shall be made on a semi-annual basis, one of them
co-terminus with the date of annual closing of accounts, subject to the following exceptions:
(a) qualitative disclosures that provide a general summary of banks’ risk management objectives and policies, reporting system and definitions, shall be published on an annual basis; and (b) large internationally active banks and other significant banks8 must disclose their Tier 1 and total capital adequacy ratios, and their components9 , on a quarterly basis. In all cases, banks should publish material information as soon as practicable and not later than deadlines set by applicable legislations. Proprietary and confidential information
38. Where a bank feels that by making proprietary10 and
confidential11 information public its position might be prejudiced, the bank may not disclose those specific items of information. However, it shall disclose the fact that some information was not disclosed and the reasons for not disclosing the information. General disclosure principles
39. The requirements under paragraph 1 of the Guideline shall apply to the
disclosure requirements under Pillar 3. Pillar 3 requires qualitative and quantitative disclosure requirements in the following areas:
(a) the scope of application of Basel II; (b) regulatory capital and capital adequacy; and (c) risk exposures and assessment. 8 For the purposes of these requirements, significant banks are those banks that have a deposit base of at least Mauritian Rupees 25 billion or equivalent, or total assets of at least Mauritian Rupees 35 billion or equivalent. To maintain consistency in reporting, significant banks that have previously adopted the disclosure standards shall be required to continue to report in accordance with the standards in this guideline notwithstanding that they may fall below the exemption thresholds in subsequent periods. 9 These components include Tier 1 capital, total capital and total required capital. 10 Information is proprietary when its disclosure would reduce its value or undermine the bank’s competitive position. 11 Specific information about customers would usually be considered confidential as it is provided under the terms of a legal agreement.

Scope of application
40. Banks shall disclose the scope of application of the Basel II framework in
order to allow market participants to assess how the framework is applied to the banking group and how entities within the banking group are treated for regulatory capital purposes.
41. Pillar 3 disclosures apply to the top consolidated level of the banking group
to which the Basel II framework applies. In the disclosure of Total and Tier 1 Capital Ratios by the top consolidated entity, an analysis of significant bank subsidiaries within the group is required.
42. Banks shall disclose the following information regarding the scope of
application:
Qualitative disclosures
(a) the name of the top corporate entity in the group to which the Basel II framework applies; (b) an outline of differences in the basis of consolidation for accounting and regulatory purposes, with a brief description of the entities 12 within the group (i) that are fully consolidated13; (ii) that are pro-rata consolidated14; (iii) in respect of which the investment is risk-weighted; and (c) any restrictions, or other major impediments, on transfer of funds or regulatory capital within the group. Capital Pillar 3 requires disclosure on two aspects of banks’ regulatory capital - capital structure and capital adequacy. Capital structure
43. Banks shall disclose the following information regarding their capital
structure:
Qualitative disclosures
(a) summary information on the terms and conditions of the main features of all capital instruments, especially in the case of complex or hybrid15 capital instruments; 12 Entity = securities, insurance and other financial subsidiaries, commercial subsidiaries, significant minority investments in insurance, financial and commercial entities. 13 Following the listing of significant subsidiaries in consolidated accounting, e.g. IAS 27. 14 Following the listing of subsidiaries in consolidated accounting, e.g. IAS 31. 15 Complex or hybrid capital instruments include a range of instruments which combine characteristics of equity capital and of debt and which meet the following requirements:

Quantitative disclosures
(b) the amount of Tier 1 capital, with separate disclosure of:
(i) paid-up share capital/common stock; (ii) statutory reserves; (iii) reserves; (iv) minority interests in the equity of subsidiaries; (v) other capital instruments; (vi) other amounts deducted from Tier 1 capital, including goodwill and investments; (c) the total amount of Tier 2 capital, with separate disclosure of:
(i) undisclosed reserves;
(ii) general banking reserve;
(iii) revaluation reserves;
(iv) general provisions/portfolio provision; (v) hybrid debt capital instruments; (vi) subordinated term debt; (d) other deductions from capital; and (e) total eligible capital. Capital adequacy
44. Banks shall disclose the following information regarding their capital
adequacy:
Qualitative disclosures
(a) a summary discussion of their approach to assessing the adequacy of their capital to support current and future activities; Quantitative disclosures they are unsecured, subordinated and fully paid-up; they are not redeemable at the initiative of the holder or without the prior consent of the Bank; they are available to participate in losses without the bank being obliged to cease trading (unlike conventional subordinated debt); although the capital instrument may carry an obligation to pay interest that cannot permanently be reduced or waived (unlike dividends on ordinary shareholders' equity), it should allow service obligations to be deferred (as with cumulative preference shares) where the profitability of the bank would not support payment.

(b) capital requirements for credit risk for portfolios subject to the Standardised Approach; (c) capital requirements for operational risk calculated in accordance with the Basic Indicator Approach or the Standardised Approach/Alternative Standardised Approach; and (d) Total and Tier 1 capital ratios for the top consolidated group and for the bank entity. Risk exposure and assessment General qualitative disclosure requirements
45. For each separate risk area (e.g. credit, market, operational, interest rate
risk in the banking book, equity) banks shall describe their risk management objectives and policies, including:
(a) strategies and processes;
(b) the structure and organisation of the relevant risk management function; (c) the scope and nature of risk reporting and/or measurement systems; and (d) the policies for hedging and/or mitigating risk and strategies and the processes for monitoring the continuing effectiveness of hedges/mitigants. Credit risk General disclosures
46. Banks shall disclose the following information regarding their exposure to
credit risk:
Qualitative disclosures
(a) the general qualitative disclosure requirements (paragraph 45) with respect to credit risk, including:
(i) definitions of past due and impaired (for accounting purposes); (ii) discussion of their credit risk management policy; Quantitative disclosures (b) total gross credit risk exposures16 , fund based and non-fund based separately; 16 That is, after accounting offsets in accordance with the applicable accounting regime and without taking into account the effects of credit risk mitigation techniques, e.g. collateral and netting.

(c) geographical17 distribution of exposures, fund based and non-fund based separately; (d) industry or counterparty type distribution of exposures, fund based and non-fund based separately; (e) residual contractual maturity breakdown of the whole portfolio; (f) by major industry or counterparty type:
(i) amount of impaired loans and if available, past due loans, provided separately18 ; (ii) specific and general allowances; (iii) charges for specific allowances and charge-offs during the period; (g) amount of impaired loans and, if available, past due loans provided separately broken down by significant geographical areas including, if practical, the amounts of specific and general allowances related to each geographical area19; (h) reconciliation of changes in the allowances for loan impairment 20; and (i) for each portfolio, the amount of exposures subject to the Standardised Approach. Credit risk: Standardised Approach
47. Banks adopting the Standardised Approach to Credit Risk shall disclose the
following information:
Qualitative disclosures
(a) the names of nominated External Credit Assessment Institutions (ECAIs) and Export Credit Agencies (ECAs) used, plus reasons for any changes; (b) types of exposure for which each agency is used; (c) a description of the process used to transfer public issue ratings onto comparable assets in the banking book; and 17 Geographical areas may comprise individual countries, groups of countries or regions within countries. Banks may choose to define the geographical areas based on the way their portfolios are geographically managed. The criteria used to allocate the loans to geographical areas should be specified. 18 Analysed according to the ageing of past due loans. 19 The portion of general allowance that is not allocated to a geographical area should be disclosed separately. 20 The reconciliation must show separately specific and general allowances; the information must comprise a description of the type of allowance; the opening balance of the allowance; charge-offs taken against the allowance during the period; amounts set aside (or reversed) for estimated probable loan losses during the period, any other adjustments (e.g. exchange rate differences, business combinations, acquisitions and disposals of subsidiaries), including transfers between allowances; and the closing of the allowance. Charge-offs and recoveries that have been recorded directly to the income statement should be disclosed separately.

Quantitative disclosures
(d) for exposure amounts after risk mitigation subject to the Standardised Approach, outstanding amounts (rated and unrated) in each risk bucket as well as those that are deducted. Credit risk mitigation
48. Banks using credit risk mitigation techniques shall disclose the following
information:
Qualitative disclosures
(a) the general qualitative disclosure requirements (paragraph 45) with respect to credit risk mitigation including:
(i) policies and processes for, and an indication of the extent to which banks make use of, on- and off-balance sheet netting; (ii) policies and processes for collateral valuation and management; (iii) a description of the main types of collateral taken; (iv) the main types of guarantor/credit derivative counterparty and their creditworthiness; (v) information about (market or credit) risk concentrations within the mitigation taken; Quantitative disclosures (b) for each separately disclosed credit risk portfolio under the Standardised Approach, the total exposure (after, where applicable, on- or off-balance sheet netting) that is covered by (i) eligible financial collateral after the application of haircuts; and (ii) guarantees/credit derivatives. Market risk
49. The following information shall be disclosed by banks using the Standardised
Approach to Market Risk:
Qualitative disclosures
(a) the general qualitative disclosure requirements (paragraph 45) for market risk including the portfolios covered by the Standardised Approach; and Quantitative disclosures (b) capital requirements for foreign exchange risk. Operational risk
50. The following information shall be disclosed by banks on operational risk:

Qualitative disclosures
(a) in addition to the general qualitative disclosure requirements (paragraph 45), the approach(es) for operational risk capital assessment for which they qualify. Interest rate risk in the banking book
51. The following information shall be disclosed by banks on interest rate risk in
the banking book (IRRBB):
Qualitative disclosures
(a) the general qualitative disclosure requirements (paragraph 45), including the nature of IRRBB and key assumptions, including assumptions regarding loan prepayments and behaviour of non-maturity deposits, and frequency of IRRBB measurement; and Quantitative disclosures (b) the increase (decline) in earnings or economic value (or relevant measure used by management) for upward and downward rate shocks according to management’s method for measuring IRRBB, broken down by currency (as relevant). Equities: disclosure for banking book positions
52. Banks shall disclose the following information regarding equities in the
banking book:
Qualitative disclosures
(a) the general qualitative disclosure requirement (paragraph 45) with respect to equity risk, including:
(i) differentiation between holdings on which capital gains are expected and those taken for other objectives including for relationship and strategic reasons; (ii) discussion of important policies covering the valuation and accounting of equity holdings in the banking book. This includes the accounting techniques and valuation methodologies used, including key assumptions and practices affecting valuation as well as significant changes in these practices; Quantitative disclosures (b) value disclosed in the balance sheet of investments, as well as the fair value of those investments; for quoted securities, a comparison to publicly quoted share values where the share price is materially different from fair value; (c) the types and nature of investments, including the amount that can be classified as:

(i) publicly traded; and
(ii) privately held;
(d) the cumulative realised gains (losses) arising from sales and liquidations in the reporting period; (e) total unrealised gains (losses)21 arising on account of fair value measurement of financial assets; and (f) total latent revaluation gains (losses)22 , and any amount of the above included in Tier 2 capital. 21 Unrealised gains (losses) recognised in the balance sheet but not through the profit and loss account. 22 Unrealised gains (losses) not recognised either in the balance sheet or the profit and loss account.

SECTION IV - FINANCIAL STATEMENTS
53. Financial institutions are required to present their financial statements as per
the standard reporting framework provided at Annex 2. The framework is based on the International Accounting Standards/International Financial Reporting Standards (IAS/IFRS) but should not be seen as an interpretation of the standards. It is the responsibility of financial institutions to comply with the standards. Items of the financial statements should be presented and disclosed in accordance with relevant IASs/IFRSs. Financial institutions have a choice to either present the income and expenses in one statement (Statement of Comprehensive Income -single statement) or two statements (an Income Statement and a Statement of Comprehensive Income ) as per
Annex 2.
54. The framework has been designed to promote standardisation in the
presentation of information and enhance comparability across institutions. It is recognised that the content and format of disclosures may have to be adjusted to some extent, taking into account the specific nature of business of a financial institution. The Bank does not expect any wholesale changes to the content or format. Any deviations shall have to be fully justifiable and the financial institution shall be accountable to the Bank in substantiating its rationale for making adjustments.
55. The framework provided at Annex 2 supersedes the format provided
as Annexure 3 of the Guideline on Segmental Reporting under a Single Banking Licence Regime.
56. Financial statements should be accompanied by a Statement of
Management’s Responsibility for Financial Reporting and Auditors’ Report to the shareholders of the financial institution or to the head office of the financial institution, as the case may be. The Auditors’ Report should be in accordance with the provisions of the International Standards of Auditing and should include a section on other legal and statutory requirements which will encompass disclosures required under the Banking Act 2004 and any other enactment(s), and a statement of compliance with regulations and guidelines issued by the Bank. The Auditor’s Report should be signed by the partner in charge of the audit for the audit firm.
57. The format for the ‘Statement of Management’s Responsibility for Financial
Reporting’ is shown at Annex 1.
Additional information to be disclosed
58. The Guideline on Segmental Reporting under a Single Banking Licence
Regime requires banks to disclose information analysed between Segment A and Segment B. In this respect, segmental information should be provided for the following: Balance Sheet, Income Statement, and notes 6 to 15, 20, 23 to 26, 29 to 31, 34, 40 and 41. 58(A) Please refer to Addendum 1 issued in March 2011 for Minimum Disclosure Standards for Financial Institutions carrying out Islamic Banking Business. 58(B) Please refer to Addendum 2 issued in March 2025 for Disclosure Requirements for Banks with respect to Residents and Non-Residents activities.

SECTION V - QUARTERLY REPORTS
59. Each financial institution shall prepare quarterly reports on its financial
condition and performance, which shall be available publicly. Such reports may be unaudited except for those reports which coincide with the end of the financial year. No quarterly reports will be required for the fourth quarter as the Annual Report encompassing the relevant information will be available around that time.
60. The quarterly reports should be prepared in accordance with IAS 34, Interim
Financial Reporting. The financial statements should be prepared in condensed form and only the notes to the annual financial statements required by IAS 34 will need to be repeated. The same accounting policies should be applied to the interim statements as those applicable to the annual statements.
61. The quarterly reports should be released within 45 days of the end of the
quarter.
62. The quarterly financial statements should provide information, albeit brief, of
the type contained in the MDA of the annual report. This guideline does not specify the scope of coverage on this aspect but it is important that there is a section on ‘highlights’ along the lines of the MDA. Similarly, the quarterly report should discuss as a minimum the institution’s experience with respect to revenue growth, cost control, credit quality, liquidity and capital management. Furthermore, the institution may provide information on its experience by industry sectors.
63. There may be need to use estimates and assumptions to match costs and
revenues since data in the quarterly statements will be based on accounting principles and practices consistent with those used in the annual financial statements. Such estimates may be subject to adjustments at the year-end.
64. The quarterly reports could also contain certain forward-looking statements
and it would be appropriate for the financial institution to make a cautionary statement to the reader, similar to that contained in the MDA, about the uncertainties inherent in the forward-looking statements and the estimates.
65. The MDA type of information mentioned above should be contained in the
opening section of the quarterly report, with appropriate reference to the quarterly financial statements included. This section should be jointly signed and dated by (a) in the case of a financial institution incorporated in Mauritius, its chief executive officer and two of its directors; or (b) in the case of a financial institution incorporated outside Mauritius and having a branch in Mauritius, its chief executive officer and the next most senior officer of the principal office of the financial institution in Mauritius.

ANNEX 1
Statement of Management’s Responsibility for Financial Reporting The group financial statements (consolidated) and the financial statements for the bank’s/company’s operations in Mauritius presented in this annual report have been prepared by management, which is responsible for their integrity, consistency, objectivity and reliability. International Accounting Standards/International Financial Reporting Standards as well as the requirements of the Banking Act 2004 and the guidelines issued thereunder have been applied and management has exercised its judgement and made best estimates where deemed necessary. The bank/company has designed and maintained its accounting systems, related internal controls and supporting procedures, to provide reasonable assurance that financial records are complete and accurate and that assets are safeguarded against loss from unauthorised use or disposal. These supporting procedures include careful selection and training of qualified staff, the implementation of organisation and governance structures providing a well defined division of responsibilities, authorisation levels and accountability for performance, and the communication of the bank’s/company’s policies, procedures manuals and guidelines of the Bank of Mauritius throughout the bank/company. The bank’s/company’s board of directors, acting in part through the Audit Committee and Conduct Review and Risk Policy Committee, which comprise independent directors, oversees management’s responsibility for financial reporting, internal controls, assessment and control of major risk areas, and assessment of significant and related party transactions. The bank’s/company’s Internal Auditor, who has full and free access to the Audit Committee, conducts a well designed program of internal audits in coordination with the bank’s/company’s external auditors. In addition, the bank’s/company’s compliance function maintains policies, procedures and programs directed at ensuring compliance with regulatory requirements. Pursuant to the provisions of the Banking Act 2004, the Bank of Mauritius makes such examination and inquiry into the operations and affairs of the bank/company as it deems necessary. The bank’s/company’s external auditors, …….…., have full and free access to the board of directors and its committees to discuss the audit and matters arising therefrom, such as their observations on the fairness of financial reporting and the adequacy of internal controls. Signed and dated by (a) in the case of a financial institution incorporated in Mauritius, its chief executive officer and two of its directors; or (b) in the case of a financial institution incorporated outside Mauritius and having a branch in Mauritius, its chief executive officer and the next most senior officer of the principal office of the financial institution in Mauritius.

ANNEX 2
Consolidated balance sheet
Note
ASSETS
Cash and cash equivalents 19
Trading assets 20
Pledged assets 21
Derivative assets held for risk management 22 Loans and advances to banks 23 Loans and advances to customers 24 Investment securities 25 Property, plant and equipment 26 Intangible assets 27 Deferred tax assets 28 Other assets 29 Total assets LIABILITIES Deposits frombanks 30 Deposits fromcustomers 31 Trading liabilities 20 Derivatives liabilities held for risk management 22 Debt securities issued 32 Other borrowed funds 33 Subordinated liabilities 34 Current tax liabilities 35 Deferred tax liabilities 28 Provisions 36 Other liabilities 37 Total liabilities Shareholders' Equity Share capital and share premium 38 Retained earnings Other reserves Total equity attributable to equity holders of the parent Minority interest Total equity Total equity and liabilities Group Yr 2 Yr 1 Yr 0 Rs mn Rs mn Rs mn x Bank Yr 2 Yr 1 Yr 0 Rs mn Rs mn Rs mn x

Consolidated Statement of Comprehensive Income (Single Statement) Continuing Operations Interest income Interest expense Net interest income Fee and commission income Fee and commission expense Net fee and commission Income Dividend income Net trading income Net income from other financial instruments carried at fair value Other operating income Group Note Yr 2 Yr 1 Yr 0 Rs mn Rs mn Rs mn x 6 x 7 x 8 x 9 x 10 x 11 x Bank Yr 2 Yr 1 Yr 0 Rs mn Rs mn Rs mn x Operating income x Net impairment loss on financial assets Personnel expenses Operating lease expenses Depreciation and amortisation Other expenses Operating profit Share of profit in associates and joint ventures Profit before income tax Income tax expense Profit for the year from continuing operations Discontinued operation Profit(loss) for the year from discontinued operation after tax Profit for the year Other comprehensive income Changes in revaluation surplus (Property, Plant, Equipment and Intangible Assets) Defined benefit plan actuarial gains(losses) Exchange differences on translation of foreign operations Net gain/(loss) on hedges of net investments in foreign operations Net gain/(loss) on cash flow hedges 12 x 13 x 14 x 15 x 16 x

Net gain/(loss) on available-for-sale fiancial assets Income tax relating to components of other comprehensive income Other comprehensive income for the year, net of income tax 17 x Total comprehensive income forthe year x Profit attributable to:
Equity holders of the parent x
Minority interests x
Profit forthe year x
Total comprehensive income attributable to:
Equity holders of the parent x
Minority interests x
Total comprehensive income forthe year
Earnings per share 18
Basic earnings per share x
Diluted earnings per share x
Continuing operations
Basic earnings per share x
Diluted earnings per share x
Transfer for the year to statutory reserve

Consolidated Income Statement( two statement) Continuing operations Interest income Interest expense Net interest income Fee and commission income Fee and commission expense Net fee and commission Income Dividend income Net trading income Net income from other financial instruments carried at fair value Other operating income Group Note Yr 2 Yr 1 Yr 0 Rs mn Rs mn Rs mn x 6 x 7 x 8 x 9 x 10 x 11 x Bank Yr 2 Yr 1 Yr 0 Rs mn Rs mn Rs mn x Operating income x Net impairment loss on financial assets Personnel expenses Operating lease expenses Depreciation and amortisation Other expenses Profit before income tax Income tax expense Profit for the year from continuing operations Discontinued operation Profit(loss) for the year from discontinued operation Profit for the year Profit attributable to:
Equity holders of the bank
Minority interest
Earnings per share
Basic earnings per share
Diluted earnings per share
12 x
13 x
14 x
15 x
16 x x
Continuing operations
Basic earnings per share x
Diluted earnings per share x

n
Statement of comprehensiveincome
Profitfortheyear x
Other comprehensiveincome
Changes in revaluation surplus(Property, Plant, Equipment and Inta gibleAssets) Definedbenefit planactuarial gains(losses) Net gain/(loss) on hedges of net investments inforeignoperations Net gain/(loss) oncashflowhedges Net gain/(loss) on availablefor salefinancial assets Incometax relatingtocomponentsof other comprehensiveincome 17 Other comprehensiveincomefortheyear,net oftax Total comprehensiveincomefortheyear, net of tax Attributableto:
Equityholders of theparent x
Minority interests x

Cash flowstatement
Cashflows fromoperatingactivities
Profit for the period
Adjustments for:
Depreciation
Amortisation
Impairment on non-financial assets
Impairment on financial assets
Net interest income
Income tax expense
Note Year 2
X
26 X
26 X
26, 27 X
23,24,25 X
Group
Year 1 Year 0
X
Bank
Year 2 Year 1 Year 0
X
Changes inoperatingassets andliabilities Increase/(Decrease) in trading assets Increase/(Decrease) in pledged assets Increase/(Decrease) in derivative financial instruments held for risk management Increase/(Decrease) in loans and advances to banks Increase/(Decrease) in loans and advances to customers Increase/(Decrease) in other assets Increase/(Decrease) in deferred tax assets Increase/(Decrease) in trading liabilities Increase/(Decrease) in deposits frombanks Increase/(Decrease) in deposits fromcustomers Increase/(Decrease) in other liabilities Interest and dividends received Interest paid Income tax paid Net cash usedin operatingactivities X Cashflows frominvesting activities Purchase of investment securities Proceeds fromsale and redemption of investment securities Purchase of property and equipment Proceeds fromsale of property and equipment Purchase of intangible assets X 26 X 26 X 27 X Net cash usedininvestingactivities X

Cashflowsfromfinancingactivities
Proceedsfromdebt securities issuedandother borrowedfunds Repayment of debt securities issuedandotherborrowed funds Increase/(Decrease) insubordinatedliabilities Increase/(Decrease) inotherborrowedfunds Proceedsfromissuingsharesor otherequity instruments Purchaseoftreasuryshares Proceedsfromsaleoftreasuryshares Dividendspaid Other cashproceeds relatedtofinancingactivities Net cashfromfinancingactivities X Net increase/(decrease)incashandcash equivalents Cashandcashequivalentsat beginningof year 19 Effect of exchangeratefluctuationsoncashandcash equivalents Cashandcashequivalentsatendofyear 19 X

Genera bankng
Other reserves Total
Statementof changesinequity
Group
---------------------- Attributabletoequityholdersof theparent ---------------------- Minority Total Share Treasury Share Statutory Revaluation Retained interest equity capital shares premium reserve reserve Reserve earnings (Notes 39) Balanceatbeginningof Year 0(restated) Total comprehensiveincome Issueof ordinaryshares Exerciseof options Share-basedpayment Net equity component of issueof convertiblebond (net) Transfer togeneral bankingreserves Transfer tostatutoryreserves Net saleof treasuryshares Dividendspaid BalanceatendYear 0/be inningof Year 1 Total comprehensiveincome Issueof ordinaryshares Exerciseof options Share-basedpayment Net equity component of issueof convertiblebond (net) Transfer togeneral bankingreserves Transfer tostatutoryreserves Net saleof treasuryshares Dividendspaid BalanceatendYear 1/be inningof Year 2 Total comprehensiveincome Issueof ordinaryshares Exerciseof options Share-basedpayment Net equity component of issueof convertiblebond (net) Transfer togeneral bankingreserves Transfer tostatutoryreserves Net saleof treasuryshares Dividendspaid X BalanceatendYear 2 X

s t e
Notestotheaccounts
1 General information
Asper applicableIAS/IFRS.
2 Summaryof significant accountingpolicies/basisof preparation Asper applicableIAS/IFRS. 3 Financial riskmanagement Asper applicableIAS/IFRS. 4 Useof estimatesandjudgements Asper applicableIAS/IFRS. 5 Segmentanalysis Asper applicableIAS/IFRS. 6 Net interest income Interest income Cashandcashequivalent Derivativeassetsheldfor riskmanagement Loansandadvances tobanks Loansandadvances tocustomers Investment securities Other Total interestincome Group Yr 2 Yr 1 Yr 0 Rsmn x Bank Yr 2 Yr 1 Yr 0 Rsmn x Interestexpense Derivativeliabilitiesheldfor riskmanagemen x Depositsfrombanks x Depositsfromcustomers x Debt securitiesissued x Other borrowedfunds x Subordinatedliabilities x Other x Total interest expense x Net interest income x 7 Net feeandcommissionincome FeeandCommissionIncome Retail bankingcustomer fees Corporatebankingcredit relatedfees Investment bankingfees Brokerage Asset managementfees Financial guaranteecontractsissued Other Total feeandcommissionincome Feeandcommissionexpense Brokerag Interbanktransactionfees Other Total feeandcommissionexpense Net feeandcommissionincome Group Yr 2 Yr 1 Yr 0 Rsmn x Bank Yr 2 Yr 1 Yr 0 Rsmn x

s r s r s e s r s
8 Dividendincome
Trading securitie
Available for sale securities
Othe
9 Net tradingincome
Fixed income
Equitie
Foreign exchange
Othe
Net incomefromother financial instruments carried 10 at fair value Net Income on other derivatives held for riskmanagement purposes:
Interest rate
Credit
Equity
Foreign exchange
Investment securities at fair value through profit or loss:
Government Bonds / Treasury Bills
Securities of Government bodies
Equity shares of companie
Other
11 Other operatingincom
Gain on sale of available-for-sale securities:
Government Bonds / Treasury Bills / Treasury Notes Bank of Mauritius Bills Securities of Government bodies Equity shares of companie Other Foreign exchangegain Rental income Othe Group Yr 2 Yr 1 Yr 0 Rs mn Rs mn Rsmn x Group Yr 2 Yr 1 Yr 0 Rs mn Rs mn Rsmn x Group Yr 2 Yr 1 Yr 0 Rs mn Rs mn Rsmn x Group Yr 2 Yr 1 Yr 0 Rs mn Rs mn Rsmn x Bank Yr 2 Yr 1 Yr 0 Rs mn Rsmn Rs mn x Bank Yr 2 Yr 1 Yr 0 Rs mn Rsmn Rs mn x Bank Yr 2 Yr 1 Yr 0 Rs mn Rsmn Rs mn x Bank Yr 2 Yr 1 Yr 0 Rs mn Rsmn Rs mn x 12 Net impairment loss on financial assets Loans and advances to banks Loans and advances to customers Investment securities Note Group Yr 2 Yr 1 Yr 0 Rs mn Rs mn Rsmn 21 x 22 x 23 x Bank Yr 2 Yr 1 Yr 0 Rs mn Rsmn Rs mn x 13 Personnel expenses Wages and salarie Compulsory social security obligations Contributions to defined contribution plans Equity-settled share based payments Cash-settled share-based payments Increase in liability for defined benefit plans Increase in liability for long service-leave Other personnel expenses Group Yr 2 Yr 1 Yr 0 Rs mn Rs mn Rsmn x Bank Yr 2 Yr 1 Yr 0 Rs mn Rsmn Rs mn x

m
14 Other expenses
Software licensing and other information technology cost Impairment loss on software Other 15 Incometax expense Recognisedin theincomestatement Current tax expense Current year Adjustment for prior years Group Yr 2 Yr 1 Yr 0 Rs mn Rs mn Rs mn x Group Yr 2 Yr 1 Yr 0 Rs mn Rs mn Rs mn x Bank Yr 2 Yr 1 Yr 0 Rs mn Rs mn Rs mn x Bank Yr 2 Yr 1 Yr 0 Rs mn Rs mn Rs mn x Deferredtax expense x Total income tax expense x Reconciliation of effectivetaxrate As per applicable IAS/IFRS. 16 Discontinuedoperations As per applicable IAS/IFRS Inco e tax relating to components of other 17 comprehensiveincome As per applicable IAS/IFRS 18 Earnings per share As per applicable IAS/IFRS. 19 Cash andcash equivalents Cash in hand Foreign currency notes and coins Unrestricted balances with central banks Money market placements Balances with banks abroad Group Yr 2 Yr 1 Yr 0 Rs mn Rs mn Rs mn x Bank Yr 2 Yr 1 Yr 0 Rs mn Rs mn Rs mn x 1 Balances with central banks over and above the minimumcash reserve requirement (CRR). 2 Money market placements aredefined as investments maturing in less than three months. 20 Tradingassets andliabilities Tradingassets Government Bonds / Treasury Bills / Treasury Notes Bank of Mauritius Bills Securities of Government bodies Corporate bonds Equities and other securities Derivative assets Group Yr 2 Yr 1 Yr 0 Rs mn Rs mn Rs mn x Bank Yr 2 Yr 1 Yr 0 Rs mn Rs mn Rs mn x Tradingliabilities Derivative liabilities Group Yr 2 Yr 1 Yr 0 Rs mn Rs mn Rs mn x Bank Yr 2 Yr 1 Yr 0 Rs mn Rs mn Rs mn x Please specify types of instruments and amounts.

21 Pledged assets
As per applicable IAS/IFRS.
22 Derivatives instruments held for risk management The derivative instruments held for risk management should be specifically itemwise disclosed. Other disclosure requirements should be as per applicable IAS/IFRS. 23 Loans and advances to banks Loans and advances to banks in Mauritius outside Mauritius Less specific allowance for impairment Note Group Yr 2 Yr 1 Yr 0 Rs mn Rs mn Rs mn x 21 b x Bank Yr 2 Yr 1 Yr 0 Rs mn Rs mn Rs mn x a Remaining termto maturity Up to 3 months Over 3 months and up to 6 months Over 6 months and up to 12 months Over 1 year and up to 5 years Over 5 years b Allowance for credit impairment Group Yr 2 Yr 1 Yr 0 Rs mn Rs mn Rs mn x Group Rs mn Rs mn Rs mn Bank Yr 2 Yr 1 Yr 0 Rs mn Rs mn Rs mn x Bank Rs mn Rs mn Rs mn Collective/ portfolio allowances Specific and general allowances provisions for for impairment impairment Total Collective/ portfolio allowances Specific and general allowances provisions for for impairment impairment Total Balance at beginning of Year 0 x Provision for credit impairment for the year x Loans written off out of allowance x Provisions released x Balance at end of Year 0/beginning of Year 1 x Provision for credit impairment for the year x Loans written off out of allowance x Provisions released x Balance at end of Year 1/beginning of Year 2 x Provision for credit impairment for the year x Loans written off out of allowance x Provisions released x Balance at end of Year 2 x 24 Loansandadvances tocustomers Retail customers Credit cards Mortgages Other retail loans Corporate customers Governments Entities outside Mauritius Other Less specific allowance for impairment Group Yr 2 Yr 1 Yr 0 Rsmn Rsmn Rs mn x Bank Yr 2 Yr 1 Yr 0 Rsmn x

a Remainingtermtomaturity
Upto 3months
Over 3months and upto6months
Over 6months and upto12months
Over 1year andupto5years
Over 5years b Credit concentrationof riskbyindustrysectors Agriculture andfishing Manufacturing of whichEPZ Tourism Transport Construction Financial and business services Traders Personal of whichcredit cards Professional Foreigngovernments Global Business Licenceholders Others Group Yr 2 Yr 1 Yr 0 Rsmn Rs mn Rsmn x Group Yr 2 Yr 1 Yr 0 Rsmn Rs mn Rsmn x Bank Yr 2 Yr 1 Yr 0 Rsmn x Bank Yr 2 Yr 1 Yr 0 Rsmn x Segment A Agriculture andFishing x Manufacturing x of whichEPZ x Tourism x Transport x Construction x Financial and business services x Traders x Personal x of whichcredit card x Professional x Others x Segment B griculture andFishing x Manufacturing x Tourism x Transport x Construction x Financial and business services x Traders x Personal x of whichcredit card x Professional x Foreigngovernments x Global Business Licenceholders x Others x

Collective/ c Allowancefor credit impairment Rs mn Grou Rsmn Rsm Bank Rsmn Rsmn Rs mn Balanceat beginningof Year 0 Provision for creditimpairment for theyear Loans written off out of allowance Provisions released Balanceat endof Year 0/beginningof Year 1 Provision for creditimpairment for theyear Loans written off out of allowance Provisions released Balanceat endof Year 1/beginningof Year 2 Provision for creditimpairment for theyear Loans written off out of allowance Provisions released Balanceat endof Year 2 Collective/ portfolio allowances Specific andgeneral allowances provisions for for impairment impairment Total x Collective/ portfolio allowances Specific andgeneral allowances provisions for for impairment impairment Total x Allowancefor credit impairment by industry d sectors Bank- Total Agriculture and Fishing of which EPZ Tourism Transport Construction Financial and BusinessServices Traders Personal of which credit card Professional Foreign governments Global Business Licence holders Others ------------------------- Yr 2 ------------------------- Yr 1 Yr 0 Specific portfolio Total Gross allowances amount of Impaired for credit for credit for credit for credit for credit loans loans impairment x Segment A Agriculture and Fishing Manufacturing of which EPZ Tourism Transport Construction Financial and business services Traders Personal of which credit card Professional Others SegmentB AgricultureandFishing Manufacturing Tourism Transport Construction Financial andbusiness services Traders Personal of whichcredit card Professional Foreigngovernments Global BusinessLicenceholders Others x

25 Investment securities
Investment securities at fair value through profit and loss Held to maturity investment securities Available for sale investment securities Group Yr 2 Yr 1 Yr 0 Rs mn Rs mn Rs mn x Bank Yr 2 Yr 1 Yr 0 Rs mn Rs mn Rs mn x Provide details on the shareholding in subsidiaries and associates: country of incorporation, effective holding (amount and percentage). Investment securities at fair value through profit and a loss Government bonds Treasury Bills / Notes Bank of Mauritius Bills Securities issued by government bodies Equity shares of companies Subsidiaries Associates Other Corporate bonds Other investment securities (specify types of securities) Less specific allowance for impairment Bank - Segment A Government of Mauritius bonds Treasury Bills / Notes issued by Government of Mauritius Bank of Mauritius Bills Securities issued by government bodies Equity shares of companies in Mauritius Subsidiaries Associates Other Corporate bonds Other investment securities (specify types of securities) Less specific allowance for impairment Bank - Segment B Foreign government bonds Treasury Bills / Notes issued by foreign governments Securities issued by foreign government bodies Equity shares of companies outside Mauritius Foreign corporate bonds Other foreign investment securities (specify types of securities) Less specific allowance for impairment Group Yr 2 Yr 1 Yr 0 Rs mn Rs mn Rs mn x Bank Yr 2 Yr 1 Yr 0 Rs mn Rs mn Rs mn x b Heldtomaturityinvestment securities Government bonds TreasuryBills/Notes Bankof MauritiusBills Securitiesissuedbygovernment bodies Corporatebonds Other investment securities(specifytypesof securities) Less specificallowancefor impairment Group Yr 2 Yr 1 Yr 0 Rsmn x Bank Yr 2 Yr 1 Yr 0 Rsmn x

s
) s r
) r s
Bank - Segment A
Government of Mauritius bonds x
Treasury Bills / Notes issued by Government of Mauritius x Bank of Mauritius Bills x Securities issued by government bodie x Corporate bonds x Other investment securities (specify types of securities) x Less specific allowance for impairment x Bank - Segment B Foreign government bonds x Treasury Bills / Notes issued by foreign governments x Securities issued by foreign government bodies x Foreign corporate bonds x Other foreign investment securities (specify types of securities x Less specific allowance for impairment x c Availablefor saleinvestment securities Government bond Treasury Bills / Notes Bank of Mauritius Bills Securities issued by government bodie Equity shares of companie Subsidiaries Associates Othe Corporate bonds Other investment securities (specify types of securities Less specific allowance for impairment Group Yr 2 Yr 1 Yr 0 Rs mn Rs mn Rsmn x Bank Yr 2 Yr 1 Yr 0 Rs mn Rs mn Rs mn x Bank - Segment A Government of Mauritius bonds x Treasury Bills / Notes issued by Government of Mauritius x Bank of Mauritius Bills x Securities issued by government bodie x Equity shares of companies in Mauritiu x Subsidiaries x Associates x Othe x Corporate bonds x Other investment securities (specify types of securities) x Less specific allowance for impairment x Bank - Segment B Foreign government bonds x Treasury Bills / Notes issued by foreign governments x Securities issued by foreign government bodies x Equity shares of companies outside Mauritiu x Foreign corporate bonds x Other foreign investment securities (specify types of securities) x Less specific allowance for impairment x

26 Property, plant and equipment
Cost
Assets under finance lease
Land and buildings
Group
Computer and other Other fixed equipment assets Total Balance at beginning of Year 0 x Acquisitions x Disposals x Exchange rate adjustment x Revaluation adjustment x Balance at end of Year 0/beginning of Year 1 x Acquisitions x Disposals x Exchange rate adjustment x Revaluation adjustment x Balance at end of Year 1/beginning of Year 2 x Acquisitions x Disposals x Exchange rate adjustment x Revaluation adjustment x Balance at end of Year 2 x Accumulated depreciation Balance at beginning of Year 0 x Depreciation for the year x Disposal adjustment x Balance at end of Year 0/beginning of Year 1 x Depreciation for the year x Disposal adjustment x Balance at end of Year 1/beginning of Year 2 x Depreciation for the year x Disposal adjustment x Balance at end of Year 2 x Net book value at end of Year 2 x Net book value at end of Year 1 x Net book value at end of Year 0 x Assets under finance lease Cost Land and buildings Bank Computer and other Other fixed equipment assets Total Balance at beginning of Year 0 x Acquisitions x Disposals x Exchange rate adjustment x Revaluation adjustment x Balance at end of Year 0/beginning of Year 1 x Acquisitions x Disposals x Exchange rate adjustment x Revaluation adjustment x Balance at end of Year 1/beginning of Year 2 x Acquisitions x Disposals x Exchange rate adjustment x Revaluation adjustment x Balance at end of Year 2 x

Accumulateddepreciation
Balance at beginningof Year 0 x
Depreciation for the year x
Disposal adjustment x
Balance at endof Year 0/beginningof Year 1 x Depreciation for the year x Disposal adjustment x Balance at endof Year 1/beginningof Year 2 x Depreciation for the year x Disposal adjustment x Balance at endof Year 2 x Net book value at endof Year 2 x Net book value at end of Year 1 x Net book value at end of Year 0 x Net book value at end of Year 2 by segments Segment A x Segment B x Net book value at end of Year 1 by segments Segment A x Segment B x Net book value at end of Year 0 by segments Segment A x Segment B x 27 Intangible assets As per applicable IAS/IFRS. 28 Deferredtax assets/liabilities As per applicable IAS/IFRS. 29 Other assets Mandatory balances with central bank/(s) Balances due in clearing Accrued interest receivable Non-banking assets acquired in satisfaction of debts Other Group Yr 2 Yr 1 Yr 0 Rs mn Rs mn Rs mn x Bank Yr 2 Yr 1 Yr 0 Rs mn Rs mn Rs mn x 5 Balances to be maintained with central bank/(s) as cash reserve requirement. 30 Deposits frombanks Money market deposits Items in the course of collection Other deposits frombanks Group Yr 2 Yr 1 Yr 0 Rs mn Rs mn Rs mn x Bank Yr 2 Yr 1 Yr 0 Rs mn Rs mn Rs mn x

U n r s
31 Deposits fromcustomers
Retail customers current accounts savings accounts timedeposits with remaining termto maturity p to 3 months Over 3 months and u to 6 months Over 6 months and u to 12 months Over 1year and up to 5years Over 5years Corporate customers current accounts savings accounts timedeposits with remaining termto maturity p to 3 months Over 3 months and u to 6 months Over 6 months and u to 12 months Over 1year and up to 5years Over 5years Government current accounts savings accounts timedeposits with remaining termto maturity p to 3 months Over 3 months and u to 6 months Over 6 months and u to 12 months Over 1year and up to 5years Over 5years Group Yr 2 Yr 1 Yr 0 Rsmn x Bank Yr 2 Yr 1 Yr 0 Rsmn x 32 Debt securities issued As per applicableIAS/IFRS. As a minimum, banks should classify these instruments intoSegment Aand Segment Bactivities and disclose the types of the instruments issued,their maturity datesand the applicable interest rates. 33 Other borrowedfunds Borrowings fromcentral banks Borrowings frombanks in Mauritius abroad Other Group Yr 2 Yr 1 Yr 0 Rsmn x Bank Yr 2 Yr 1 Yr 0 Rsmn x 34 Subordinatedliabilities Report as per applicable IAS/IFRS. As a minimum, banks should disclose the following information:
(I) abreakdown for Segment Aand Segment Bactivities for subordinated loans (II) aggregate maturities, together witha breakdown for Segment A and segment Bactivities Remaini gtermtomaturity Up to 1yea Over 1 year and up to 2years Over 2 years and up to 3years Over 3 years and up to 4years Over 4 years and up to 5years Over 5 years Group Yr 2 Yr 1 Yr 0 Rsmn x Bank Yr 2 Yr 1 Yr 0 Rsmn x 35 Current taxliabilitie 36 Provisions Asper applicableIAS/IFRS.

37 Other liabilities
As per applicable IAS/IFRS.
Accrued interest payable should be shown separately.
Segment A and Segment B items should be shown separately.
38 Capital
Authorised capital
Ordinary (… shares of MUR ……. each)
Preference (… shares of MUR ……. each)
Issued capital
Ordinary (… shares of MUR ……. each)
Preference (… shares of MUR ……. each)
Subscribed capital
Ordinary (… shares of MUR ……. each)
Preference (… shares of MUR ……. each)
Paid up capital
Ordinary (… shares of MUR ……. each)
Preference (… shares of MUR ……. each)
Bank
Yr 2 Yr 1 Yr 0
Rs mn Rs mn Rs mn x

m o m o m o
39 Others
Balance at beginningof Year 0
Net gains on available for sale financial investments Realised gains on available for sale financial investments classified to income statement on disposal Realised losses on available for sale financial investments reclassified to income statement on disposal and i pairment Tax effect f net gains on available for sale financial instruments Net gains on cash flow hedges Net gain on cash flow hedges reclassified to income statement Tax effect of net gain on cash flow hedges Foreign currency translation Net change on hedge of net investment Tax effect of net change on hedge of net investment Defined benefit plan actuarial gains/(Losses) Tax effect of defined benefit plan Rs mn Available for sale reserve x Group Rs mn Rs mn Foreign currency Cash flow translation reserve reserve x Rs mn Rs mn Other capital reserve Total x Share of changes recognised directly in associates' equity x Balance at end of Year 0/beginning of Year 1 x Net gains on available for sale financial investments x Realised gains on available for sale financial investments classified to income statement on disposal x Realised losses on available for sale financial investments reclassified to income statement on disposal and i pairment x Tax effect f net gains on available for sale financial instruments x Net gains on cash flow hedges x Net gain on cash flow hedges reclassified to income statement x Tax effect of net gain on cash flow hedges x Foreign currency translation x Net change on hedge of net investment x Tax effect of net change on hedge of net investment x Defined benefit plan actuarial gains/(Losses) x Tax effect of defined benefit plan x Share of changes recognised directly in associates' equity x Balance at end of Year 1/beginning of Year 2 x Net gains on available for sale financial investments x Realised gains on available for sale financial investments classified to income statement on disposal x Realised losses on available for sale financial investments reclassified to income statement on disposal and i pairment x Tax effect f net gains on available for sale financial instruments x Net gains on cash flow hedges x Net gain on cash flow hedges reclassified to income statement x Tax effect of net gain on cash flow hedges x Foreign currency translation x Net change on hedge of net investment x Tax effect of net change on hedge of net investment x Defined benefit plan actuarial gains/(Losses) x Tax effect of defined benefit plan x Share of changes recognised directly in associates' equity x Balance at end of Year 2 x

m o m o m o
Balance at beginning of Year 0
Net gains on available for sale financial investments Realised gains on available for sale financial investments classified to income statement on disposal Realised losses on available for sale financial investments reclassified to income statement on disposal and i pairment Tax effect f net gains on available for sale financial instruments Net gains on cash flow hedges Net gain on cash flow hedges reclassified to income statement Tax effect of net gain on cash flow hedges Defined benefit plan actuarial gains/(Losses) Tax effect of defined benefit plan Foreign currency translation Net change on hedge of net investment Tax effect of net change on hedge of net investment Rs mn Available for sale reserve x Bank Rs mn Rs mn Foreign currency Cash flow translation reserve reserve x Rs mn Rs mn Other capital reserve Total x Balance at end of Year 0/beginning of Year 1 x Net gains on available for sale financial investments x Realised gains on available for sale financial investments classified to income statement on disposal x Realised losses on available for sale financial investments reclassified to income statement on disposal and i pairment x Tax effect f net gains on available for sale financial instruments x Net gains on cash flow hedges x Net gain on cash flow hedges reclassified to income statement x Tax effect of net gain on cash flow hedges x Defined benefit plan actuarial gains/(Losses) x Tax effect of defined benefit plan x Foreign currency translation x Net change on hedge of net investment x Tax effect of net change on hedge of net investment x Balance at endof Year 1/beginningof Year 2 x Net gains on available for sale financial investments x Realised gains on available for sale financial investments classified to income statement on disposal x Realised losses on available for sale financial investments reclassified to income statement on disposal and i pairment x Tax effect f net gains on available for sale financial instruments x Net gains on cash flow hedges x Net gain on cash flow hedges reclassified to income statement x Tax effect of net gain on cash flow hedges x Defined benefit plan actuarial gains/(Losses) x Tax effect of defined benefit plan x Foreign currency translation x Net change on hedge of net investment x Tax effect of net change on hedge of net investment x Balance at endof Year 2 x

40 Contingent liabilities
Acceptances on account of customers
Guarantees on account of customers
Letters of credit and other obligations on account of customers Spot foreign exchange contracts Other contingent items 41 Commitments Loans andother facilities Undrawn credit facilities Undisturbed commitments in debt securities and equities Underwriting commitments in debt secutieies and equities Other (please specify) Group Yr 2 Yr 1 Yr 0 Rs mn Rs mn Rs mn x Group Yr 2 Yr 1 Yr 0 Rs mn Rs mn Rs mn x Bank Yr 2 Yr 1 Yr 0 Rs mn Rs mn Rs mn x Bank Yr 2 Yr 1 Yr 0 Rs mn Rs mn Rs mn x 42 Other contingencies As per applicable IAS/IFRS. 43 Related parties As per applicable IAS/IFRS. Asa minimum the following information shall be provided:
a total amount of transactions (including loans deposits and foreign currency transactions entered with related parties); reconciliation of loans and advances and deposits to related parties, showing separate figures for directors and other key management personnel b and for associated companies; c brief details of facilities, including the terms; d details for key management compensation:
(i) salaries and other other short termbenefits; (ii) post employment benefits; (iii) share based payments; e the proportion of credit exposure to related parties that has become non-performing (this information should be provided by year for three years); f the total amount of exposure to six related parties with highest exposures, with the ratio of such exposure to the institution’s Tier 1 capital.