Notes to Consolidated Financial Statements continued Thousands of Georgian Lari 10. Loans to Customers and Finance Lease Receivables continued Expected credit loss continued As at 31 December 2018 Gold – pawn loans at amortised cost, allowance for ECL: Stage 1 Stage 2 Stage 3 POCI Total Balance at 1 January 2018 – – 34 – 34 New financial asset originated or purchased 76 – – – 76 Transfer to Stage 1 22 – (22) – – Transfer to Stage 2 – 10 (10) – – Transfer to Stage 3 (76) – 76 – – Impact on ECL of exposures transferred between stages during the year (22) (10) 77 – 45 Assets derecognised (excluding write-offs) – – – – – Assets repaid (2) (1) (220) – (223) Impact of modifications – – – – – Write-offs – – (609) – (609) Recoveries of amounts previously written off – – 113 – 113 Unwind of discount – – 8 – 8 Currency translation differences – – – – – Net other measurement of ECL 14 1 836 – 851 Balance at 31 December 2018 12 – 283 – 295 Individually assessed – – – – – Collectively assessed 12 – 283 – 295 Balance at 31 December 2018 12 – 283 – 295 Commercial Consumer Residential Micro and loans loans mortgage loans SME loans Total 2017 2017 2017 2017 2017 At 1 January 159,759 58,785 3,891 30,334 252,769 Charge 40,311 80,607 2,700 31,592 155,210 Recoveries 9,979 23,485 8,151 11,177 52,792 Write-offs (35,053) (74,027) (9,912) (32,267) (151,259) Accrued interest on written-off loans (10,746) (16,649) (768) (4,141) (32,304) Currency translation differences 19 (143) – (199) (323) At 31 December 164,269 72,058 4,062 36,496 276,885 Individual impairment 153,522 1,019 2,427 23,621 180,589 Collective impairment 10,747 71,039 1,635 12,875 96,296 164,269 72,058 4,062 36,496 276,885 Gross amount of loans, individually determined to be impaired, before deducting any individually assessed impairment allowance 310,308 2,178 14,671 53,117 380,274 224 Annual Report 2018Bank of Georgia Group PLC