AfrAsia Bank Limited

AfrAsia Bank Limited
Private Company
Industry Financial Services
Founded 2007
Headquarters Bowen Square
10 Dr. Ferriere Street
Port Louis, Mauritius
Key people
Lim Sit Chen Lam Pak Ng
Chairman,
Sanjiv Bhasin
Chief Executive Officer
Products Corporate and Investment Banking, Private Banking and Wealth Management, International Banking, Treasury
Revenue Decrease Aftertax:US$4.88 million (MUR:176 million) (2015)
US$ 400 million (MUR 1.39 billion) (2015)
Total assets US$2.1 billion (MUR:75 billion) (2015)
Number of employees
234 (2015)[1]
Subsidiaries See narrative
Slogan Bank Different
Website AfrAsia Bank Limitied

AfrAsia Bank Limited, commonly known as AfrAsia Bank, is a Private and Corporate Bank in Mauritius. It is one of the commercial banks licensed by the Bank of Mauritius, the country's central bank and the nation's banking regulator.[2]

Overview

AfrAsia Bank is a large financial services provider in Mauritius and in the adjacent continental sub-regions of Southern, Central and Eastern Africa. As of June 2015, the total asset valuation of the bank was approximately US$2.1 billion (MUR:75 billion), with shareholders' equity of approximately US$61.55 million (MUR:1.78 billion).[3]

History

The bank was founded in 2007, in Mauritius. Today the Bank has subsidiaries in Mauritius, with representative offices in South Africa and London. Besides providing Private Banking & Wealth Management services the bank focuses on Corporate & Investment Banking, Global Business Solutions and Treasury. The corporate philosophy is to be the reference point for Corporate and Investment Banking, Private Banking and Global Business Solutions linking Mauritius and the Africa-Asia trade corridor... and beyond

Organizational structure

The bank is organized into four major administrative divisions:[4]

Subsidiaries

As of June 2015, AfrAsia Bank Limited maintains the following subsidiaries and agencies:[5]

  1. AfrAsia Capital Management - Port Louis, Mauritius Mauritius - 100% shareholding
  2. AfrAsia Corporate Finance - Port Louis, Mauritius Mauritius - 50% shareholding
  3. AfrAsia Cape Town Office - Cape Town, South Africa South Africa - Representative Office
  4. AfrAsia Johannesburg Office - Johannesburg, South Africa South Africa - Representative Office
  5. AfrAsia London Office - London, United Kingdom United Kingdom - Representative Office

Ownership

As of June 2015,the shareholding in the stock of the bank included the following corporations and individuals:[6]

AfrAsia Bank Stock Ownership
Rank Name of Owner
1GML, a Mauritian Conglomerate
2National Bank of Canada
3PROPARCO of France
4INTRASIA CAPITAL of Singapore
Total

Branches

The bank maintains its headquarters and main branch at Mauritius International Financial Centre, Bowen Square, 10 Dr. Ferriere Street, in Port Louis, the capital and largest city in Mauritius. Also the Bank has its branch at Ebene, showing its unremitting commitment to providing a distinctive customer experience at NeXTeracom, Ebene, which also features the display of an 84” multi-touch digital wall, a first in Sub-Saharan Africa, where clients and visitors have the opportunity to navigate through the screens to discover the bank’s services and explore more about the brand. It also maintains a representative office in each of their South African cities; namely Cape Town, and Johannesburg, in addition the Bank also maintains its presence in London.

Governance

The bank is governed by a eleven-person Board of Directors. The Chairman of the board is Lim Sit Chen Lam Pak Ng, one of the non-Executive directors. Sanjiv Bhasin serves as the Chief Executive Officer.[7]

See also

References

External links

This article is issued from Wikipedia - version of the Tuesday, February 16, 2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.