Page 145 - EXIM-Bank_Annual-Report-2022

A VISION COMMITMENT EMPOWERING ENSURING ENHANCING FINANCIAL
TO SERVE TO LEAD GROWTH SUSTAINABILITY GOVERNANCE STATEMENTS 143

Notes to the fiNaNcial statemeNts

10. INSURaNCE (PayaBLES)/RECEIVaBLES
Group and Bank
2022 2021
rM’000 rM’000
Amount due from agents, brokers and co-insurers 413 851
Less: Allowance for ECL on insurance receivables (413) (806)
- 45

Amount due to agents, brokers and co-insurers (115) (295)

Movements in the allowance for ECL for insurance receivables are as follows:

Group and Bank
2022 2021
rM’000 rM’000
ECL
At 1 January 806 640
Allowance made during the year 198 816
Amount writeback (591) (650)

At 31 December 413 806

11. DerIvAtIve FINANCIAL INstruMeNts
The notional amounts, recorded at gross, is the amount of derivatives’ underlying asset, reference rate or index and is the
basis upon which changes in the value of derivatives are measured. The notional amounts indicate the volume of transactions
outstanding at the year end and are not indicative of the market risk nor the credit risk.
The following table shows the fair value of derivative financial instruments recorded as assets or liabilities together with their
notional amounts. Derivative assets and derivative liabilities are disclosed on a gross basis as it is the Bank’s practice to settle
those derivative on a gross basis.

As at 31 December 2022, the Bank has entered into the following derivative financial instruments:
Group and Bank
2022 2021
Fair value Notional Fair value Notional
Assets Liabilities Amount Assets Liabilities Amount
rM’000 rM’000 rM’000 rM’000 rM’000 rM’000
Derivatives used in fair value hedges
Interest/profit rate swaps - 181,026 1,975,500 52,378 999 2,136,645

Cross currency interest/profit rate swap 15,887 - 504,426 28,085 - 478,653

Derivative held for trading
Forward foreign exchange contract - 2,878 180,173 - - -

total 15,887 183,904 2,660,099 80,463 999 2,615,298