8. FINANCING, ADVANCES AND OTHERS (CONTINUED) (k) Movement of allowance for impairment on financing, advances and others Group and Bank Stage 1 RM’000 Stage 2 RM’000 Stage 3 RM’000 Total RM’000 At 1 January 2023 366,051 224,397 449,415 1,039,863 Transfer to Stage 1 5,248 (4,869) (379) – Transfer to Stage 2 (15,402) 18,391 (2,989) – Transfer to Stage 3 (1,109) (13,217) 14,326 – Changes in credit risk (101,889) 62,188 283,606 243,905 New financial assets originated or purchased 98,761 10,256 1,971 110,988 Financial assets that have been derecognised (50,975) (14,822) (16,206) (82,003) Write-offs – – (506,700) (506,700) Exchange differences 1,621 – – 1,621 At 31 December 2023/1 January 2024 302,306 282,324 223,044 807,674 Transfer to Stage 1 6,673 (6,534) (139) – Transfer to Stage 2 (9,411) 12,754 (3,343) – Transfer to Stage 3 (1,368) (17,284) 18,652 – Changes in credit risk (74,140) (57,066) 316,433 185,227 New financial assets originated or purchased 88,814 9,040 2,385 100,239 Financial assets that have been derecognised (48,711) (10,541) (7,378) (66,630) Write-offs – – (284,614) (284,614) Exchange differences (4,738) – – (4,738) At 31 December 2024 259,425 212,693 265,040 737,158 (l) Effect of modifications on the measurement of allowance for impaired financing, advances and others The following table discloses information on financing and advances that were modified but not derecognised during the year, for which the allowance for impaired financing, advances and others were measured at a lifetime ECL at the beginning of the year, and at the end of the year had changed to a 12-months ECL: Group and Bank 2024 RM’000 2023 RM’000 Amortised cost before the modification 3,842 11,755 Net modification loss 88 27 Bank Islam Malaysia Berhad ◆ Integrated Annual Report 2024 330 Notes to the Financial Statements for the financial year ended 31 December 2024
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