41. FINANCIAL RISK MANAGEMENT (CONTINUED) (b) Credit risk (continued) Concentration of credit risk for Group and Bank (continued) Bank 2022 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 – 1 – 70,348 – 867,280 – 937,629 2,617 88,331 Mining and quarrying – – – – – 110,359 – 110,359 11,187 97,809 Manufacturing (including agro-based) – – 41 35,704 – 595,433 – 631,178 97,623 744,130 Electricity, gas and water – – – 342,004 127,1002,180,055 – 2,649,159 77,063 242,456 Wholesale & retail trade and hotels & restaurants – – 102,892 – – 1,158,408 – 1,261,300 172,370 278,370 Construction – – – 991,318 216,897 1,914,249 – 3,122,464 576,307 1,350,187 Transport, storage and communications – – 9 1,260,553 45,663 2,793,909 – 4,100,134 118,464 377,962 Finance, insurance, real estate and business activities 7,128,159 54,857 1,625 6,657,638 2,538,921 4,645,665 480,595 21,507,460 212,113 1,478,871 Education, health and others – – 3,902 817,133 10,111 2,465,138 – 3,296,284 352,9271,814,482 Household sectors – – – – – 48,171,498 – 48,171,498 – 2,366,077 Other sectors – – 14,531 1,842,680 116,564 – – 1,973,775 305,585 362,919 7,128,159 54,858 123,00012,017,378 3,055,25664,901,994 480,59587,761,240 1,926,256 9,201,594 * Financing commitments excluding derivative financial assets 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 2023 and 31 December 2022, 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. 360 Notes to the Financial Statements for the financial year ended 31 December 2023 Bank Islam Malaysia Berhad ◆ Integrated Annual Report 2023
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