Notes To The Financial Statements

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21. LEASE

The Group and the Bank lease building and the average lease term is 3 years. The Group and the Bank do not have the option to purchase the leased assets at the end of the lease term. The Group and the Bank’s obligations are secured by the lessor’s title to the leased assets for such leases.

One of the lease contracts for property was terminated and 2 lease contracts have expired during the current financial year. The additions to the lease contracts relate to the CPI adjustments to the rental payments for one property lease contract.

There are no variable lease payments in the lease contracts of the Group and the Bank

The Group and the Bank do not face a significant liquidity risk with regard to its lease liabilities. The leases are denominated in MUR and ZAR. For disclosure under IAS 17, please refer to Note 35 - Contingent liabilities and commitments.

RECONCILIATION OF FINANCIAL LIABILITIES ARISING FROM FINANCING ACTIVITIES

LEASE LIABILITY
AMOUNTS RECOGNISED IN PROFIT OR LOSS
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