Notes to Consolidated Financial Statements continued Thousands of Georgian Lari 27. Risk Management continued Credit risk continued As at 31 December 2018 Gold – pawn loans at amortised cost Stage 1 Stage 2 Stage 3 Total High grade – – – – Standard grade – – – – Low grade – – – – Not rated 75,483 541 – 76,024 Defaulted Non-performing – – 369 369 Other – – 4,377 4,377 Balance at 31 December 2018 75,483 541 4,746 80,770 As at 31 December 2018 Finance lease receivables Stage 1 Stage 2 Stage 3 Total High grade 19,375 1,375 – 20,750 Standard grade 7,659 213 – 7,872 Low grade 1,914 794 – 2,708 Not rated 72,002 3,424 683 76,109 Defaulted Non-performing – – 2,410 2,410 Other – – 238 238 Balance at 31 December 2018 100,950 5,806 3,331 110,087 As at 31 December 2018 Loans and advances to customers at FVTPL Stage 1 Total Not rated 8,379 8,379 Balance at 31 December 2018 8,379 8,379 As at 31 December 2018 Accounts receivable Stage 1 Total Not rated 2,849 2,849 Balance at 31 December 2018 2,849 2,849 As at 31 December 2018 Guarantees issued Stage 1 Stage 2 Stage 3 Total High grade 165,401 5,697 – 171,098 Standard grade 37,795 5,708 – 43,503 Low grade 17,791 466 – 18,257 Not rated 760,203 7 – 760,210 Defaulted Other – – 22,498 22,498 Balance at 31 December 2018 981,190 11,878 22,498 1,015,566 260 Annual Report 2018Bank of Georgia Group PLC