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[Infographic] Understanding IFRS 9 For Retail Lending

November 7, 2016 at 8:25 AM

The International Accounting Standards Board published IFRS9 Financial Instruments in July 2014, a framework that introduces a number of new principles into bad debt provisioning that would require lenders to change the provisioning methodology and possibly some business practices in order to remain compliant.

It is expected that IFRS9 adoption could lead to a material increase in provisions. The IFRS9 framework and key considerations for retail unsecured lending are described in the below high level overview.

Scroll down to view the entire infographic or
click here to download a printable PDF version.

IFRS-9-framework-with-10-considerations-printable-A4_2.png

Click here to download a printer-friendly PDF version

Get IFRS 9 Compliant

Edwin Cross
Edwin Cross
Prior to joining Principa in December 2013, Edwin had 13 years’ consumer credit (credit cards, revolving credit and personal loans) experience in Barclays Bank and Standard Bank SA with 10 years’ specialised in credit risk management across South Africa and Europe in particular United Kingdom, Spain, Germany and Italy of which over 3 years with Chief Risk Officer accountabilities. Edwin is considered an expert across the full customer life cycle and has lead and implemented a number of highly successful credit, marketing, collections, scoring and provisioning initiatives. Since joining Principa, Edwin continued to successfully deliver risk-based and profit-based initiatives to key clients (specialised lenders, large retail banks and retailers). He holds a M.Comm degree from Stellenbosch University.

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