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Loans receivable, net of credit impairment losses

12 Months Ended

Dec. 31, 2018

Loans Receivable Net Of Credit Impairment Losses

15. Loans receivable, net of credit impairment losses

The total loans receivable are comprised of the following:

		As at December 31,
		2017				2018
		RMB’000				RMB’000

Loans receivable at amortized cost			818,114				823,770
Accrued interest			-				153,181
Gross loans receivable			818,114				976,951
Less: Credit impairment losses			(26,724	)			(397,297	)
Loans receivable, net of credit impairment losses			791,390				579,654

The following table provides the changes in credit impairment losses between the beginning and the end of the annual period:

		As at December 31,
		2017				2018
		RMB’000				RMB’000

Credit impairment losses as at January 1			21,733				26,724
Changes on initial application of IFRS 9			-				304,238
Charge to statement of profit			4,991				67,574
Write-off			-				(1,239	)
Credit impairment losses as at December 31			26,724				397,297

The write-off of loans with a total gross carrying amount of RMB1.2 million resulted in the reduction of credit impairment losses by the same amount.

The Group originates loans to customers located primarily in Wuhan City, Hubei Province. This geographic concentration of credit exposes the Group to a higher degree of risk associated with this economic region.