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2015

RCS GROUP CONSOLIDATED FINANCIAL STATEMENTS

51

Net (expense) /

gains recognised

in statement of

Total interest

Carrying

comprehensive

income /

value

Fair value

income

(expense)

Impairment

R’000

R’000

R’000

R’000

R’000

31 March 2015

Assets

Cash and cash equivalents

446 787

446 787

Card and loan receivables 5 508 226

5 508 226

1 261 080

(443 680)

Other receivables

12 266

12 266

4

Interest rate swaps

15 249

15 249

(25 186)

26 053

Amounts owing fromgroup company

81

81

5 982 609

5 982 609

(25 186)

1 287 137

(443 680)

Liabilities

Funding

(3 770 300)

(3 770 300)

(281 984)

Trade and other payables

(328 511)

(328 511)

Interest rate swaps

(27)

(27)

255

(15 412)

(4 098 838)

(4 098 838)

255

(297 396)

Fair value hierarchy

The RCS Group measures fair values using the following fair value hierarchy that reflects the significance of the inputs used in making the

measurements:

Level 1 – Quoted prices (unadjusted) in an active market for an identical instrument.

Level 2 – Valuation techniques based on observable inputs, either directly (i.e. as prices) or indirectly (i.e. derived from prices).

This category includes instruments valued using: quoted market prices in active markets for similar instruments;

quoted prices for identical or similar instruments in markets that are considered less than active; or other valuation

techniques where all significant inputs are directly or indirectly observable from market data.

Level 3 – Valuation techniques using significant unobservable inputs. This category includes all instruments where the

valuation techniques includes inputs not based on observable data and the unobservable inputs have a significant

effect on the instrument’s valuation. This category includes instruments that are valued based on quoted prices for

similar instruments where significant unobservable adjustments or assumptions are required to reflect differences

between instruments.

30.

Risk management (continued)

Fair values of financial instruments (continued)

NotestotheConsolidatedFinancialStatements

(continued)

for the period ended 31 December 2015