41. FINANCIAL RISK MANAGEMENT (CONTINUED) (b) Credit risk (continued) (i) Concentration of credit risk for Group and Bank (continued) Bank 2021 Cash and short-term funds and deposits and placements with financial institutions RM’000 Financial assets at FVTPL RM’000 Derivative financial assets RM’000 Financial assets at FVOCI RM’000 Financial assets at AC RM’000 Financing, advances and others RM’000 Other financial assets at AC RM’000 On-Balance Sheet Total RM’000 Financial guarantee contracts RM’000 Financing commitments* RM’000 Primary agriculture – – – 122,923 – 946,230 – 1,069,153 1,765 96,540 Mining and quarrying – – – – – 64,750 – 64,750 10,198 93,940 Manufacturing (including agro-based) – – 4 47,066 – 908,794 – 955,864 110,587 564,756 Electricity, gas and water – 10,215 – 635,629 104,270 2,014,732 – 2,764,846 71,617 142,967 Wholesale & retail trade, and hotels & restaurants – – 11,505 – – 902,904 – 914,409 155,005 235,621 Construction – – 16 1,062,079 158,591 2,597,014 – 3,817,700 527,396 1,476,088 Transport, storage and communications – – – 1,233,098 46,220 689,359 – 1,968,677 85,578 337,313 Finance, insurance, real estate and business activities 5,204,364 1,276,874 1,773 6,407,069 72,508 4,644,988 238,316 17,845,892 180,041 1,511,015 Education, health and others – – 7,497 838,381 60,640 1,351,617 – 2,258,135 454,975 1,921,771 Household sectors – – – – – 44,033,381 – 44,033,381 – 2,273,312 Other sectors – – 5,242 2,180,425 906,615 – 941 3,093,223 225,747 703,759 5,204,364 1,287,089 26,037 12,526,670 1,348,844 58,153,769 239,257 78,786,030 1,822,909 9,357,082 * Financing commitments excluding derivative financial assets (ii) Collateral The main types of collateral obtained by the Bank to mitigate the credit risk are as follows: •• For residential mortgages – charges over residential properties •• For commercial property financing – charges over the properties being financed •• For vehicle financing under Ijarah Thumma Al-Bai – ownership claims over the vehicles financed •• For other financing and advances – charges over business assets such as premises, inventories, trade receivables and/or cash deposits As at 31 December 2022 and 31 December 2021, there were no assets repossessed by the Bank as a result of taking possession of collateral held as security, or by calling upon other credit enhancements. Notes to the financial statements for the financial year ended 31 December 2022 Integrated Report 2022 340
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