M A U R I T I U S B A N K E R S A S S O C I AT I O N PROFILE OF B A N K S E D I T I O N

Transcription

1 M A U R I T I U S B A N K E R S A S S O C I AT I O N PROFILE OF B A N K S E D I T I O N

2 Members 1. AfrAsia Bank Limited 2. Bank of Baroda 3. Bank One Limited 4. Banque des Mascareignes Ltée 5. Barclays Bank PLC 6. Bramer Banking Corporation Ltd 7. Deutsche Bank (Mauritius) Limited 8. Habib Bank Limited 9. HSBC Bank (Mauritius) Limited 10. Investec Bank (Mauritius) Limited 11. Mauritius Post and Cooperative Bank Ltd 12. P.T Bank Internasional Indonesia 13. SBI (Mauritius) Ltd 14. Standard Bank (Mauritius) Limited 15. Standard Chartered Bank (Mauritius) Limited 16. State Bank of Mauritius Ltd 17. The Hongkong and Shanghai Banking Corporation Limited 18. The Mauritius Commercial Bank Ltd

3 PROFILE OF B A N K S MBA PROFILE OF BANKS

4 Table of Contents Preamble 3 AfrAsia Bank Limited 4 Bank of Baroda 10 Bank One Limited 14 Banque des Mascareignes Ltée 18 Barclays Bank PLC 22 Bramer Banking Corporation Ltd 26 Deutsche Bank (Mauritius) Limited 30 Habib Bank Ltd 34 HSBC Bank (Mauritius) Limited 38 Investec Bank (Mauritius) Limited 42 Mauritius Post and Cooperative Bank Ltd 46 P.T Bank Internasional Indonesia 50 SBI (Mauritius) Ltd 54 Standard Bank (Mauritius) Limited 58 Standard Chartered Bank (Mauritius) Limited 62 State Bank of Mauritius Ltd 66 The Hongkong and Shanghai Banking Corporation Limited 72 The Mauritius Commercial Bank Ltd 76 A Note of Caution & Disclaimer 82 MBA PROFILE OF BANKS

5 Preamble The MBA Profile of Banks aims to provide an at-a-glance guide to the Mauritian banking sector, highlighting qualitative as well as quantitative features of MBA Member banks. This third edition contains a short synopsis on each bank, outlining the corporate structure, ownership, and range of services offered. Financial summaries for the last three financial years, based on banks audited accounts, are also included. The Mission and Vision statements of each bank are reproduced, together with relevant contact details. The MBA Profile of Banks has been compiled with a view to enhancing information dissemination and making the financial data from the banking sector more readily accessible to a larger public. We believe that this report will help users to gauge the market size, activity, performance, growth opportunities and trends of the various banks operating in Mauritius. For information, a new banking licence has been issued to ABC Banking Corporation Ltd on 1 June The new bank is presently offering limited products and will be providing the full range of banking services in due course. This document will be updated as and when banks audited annual financial statements are released, and the latest version will be posted on the MBA website ( for reference. Aisha C. Timol Chief Executive, MBA 21 June 2010 MBA PROFILE OF BANKS 3

6 Contact Details: Afrasia Bank Limited Bowen Square 10, Dr Ferrière Street Port Louis, Mauritius Tel : (230) Fax : (230) afrasia@afrasiabank.com Website : blog.afrasiabank.com 4 MBA PROFILE OF BANKS

7 AfrAsia Bank Limited AfrAsia Bank Limited was incorporated on 14 January 2007 with two founding strategic shareholder groups. Its current strategic partners are Groupe Mon Loisir (GML) which is one of the largest business conglomerates in Mauritius; the AXYS Group, a Mauritius-based provider of financial services; the Dale Capital Group Limited, an investment holding company investing into South Africa & Mauritius; Intrasia Capital, a Singapore-based investment and Private Equity firm, and United Investment Limited, a Mauritius DEM-listed investment firm. It obtained its banking license in August 2007 and started operations on 2 October AfrAsia Bank is a regional financial institution, based in Mauritius, with a team of 50 staff. Early this year AfrAsia has opened two representative offices in South Africa, one in Cape Town and the other one in Johannesburg. The bank aims to be a reference point for Private Banking & Wealth Management, Corporate & Investment Banking and International Banking Solutions linking Mauritius and the Africa-Asia trade corridor. It also offers tailor made products and financial solutions while ensuring that customers benefit from a dedicated and personalised service. Mission Statement: AfrAsia will be the reference point for Corporate, Wealth Management and Partnership Banking solutions linking Mauritius and the Africa-Asia trade corridor. We will be recognized as passionate partners with a disruptive approach, a can do attitude and working as a genuine team. MBA PROFILE OF BANKS 5

8 Statements of Financial Position AfrAsia Bank Limited Group 18 months ended As At 30 June MUR 000 MUR 000 MUR 000 ASSETS Cash and balances with Central Bank 207, ,759 - Due from banks 2,751,536 1,221,292 - Derivative financial instruments 149, ,440 - Other financial assets held-for-trading 103, Loans and advances to customers 2,106, ,762 - Investment in subsidiary Financial Investment - held-to-maturity 638, ,117 - Property, plant and equipment 11,308 12,832 - Intangible assets 13,581 18,336 - Deferred tax assets 3,272 7,035 - Other assets 210,495 13,803 - Total assets 6,195,666 3,094,376 - LIABILITIES Deposits from banks 142, ,029 - Deposits from customers 5,027,224 2,357,810 - Derivative financial instruments 147, ,267 - Capital guaranteed contracts 151, ,475 - Amount due to subsidiary Current tax liabilities Deferred tax liabilities Other liabilities 86, ,133 - Total liabilities 5,555,853 2,884,726 - Shareholders Equity Issued Capital 653, ,000 - Revenue deficit (19,798) (40,350) - Others reserves 5, Total equity 639, ,650 - Total liabilities, equity and reserves 6,195,666 3,094,376-6 MBA PROFILE OF BANKS

9 Statements of Financial Position AfrAsia Bank Limited Bank 18 months ended As At 30 June MUR 000 MUR 000 MUR 000 ASSETS Cash and balances with Central Bank 207, ,759 - Due from banks 2,715,057 1,207,021 - Derivative financial instruments 51,655 65,365 - Other financial assets held-for-trading 103, Loans and advances to customers 2,106, ,761 - Investment in subsidiary 1,000 1,000 - Financial Investment - held-to-maturity 638, ,117 - Property, plant and equipment 11,285 12,798 - Intangible assets 13,581 18,336 - Deferred tax assets 3,272 7,035 - Other assets 215,071 10,736 - Total assets 6,067,313 2,977,928 - LIABILITIES Deposits from banks 142, ,029 - Deposits from customers 5,059,542 2,434,596 - Derivative financial instruments 50,284 66,191 - Capital guaranteed contracts Amount due to subsidiary 151, ,475 - Current tax liabilities Deferred tax liabilities Other liabilities 23,898 23,054 - Total liabilities 5,427,629 2,768,345 - Shareholders Equity Issued Capital 653, ,000 - Revenue deficit (19,927) (40,417) - Others reserves 5, Total equity 639, ,583 - Total liabilities, equity and reserves 6,067,313 2,977,928 - MBA PROFILE OF BANKS 7

10 Statements of Comprehensive Income AfrAsia Bank Limited Group 18 months ended For The Year Ended 30 June MUR 000 MUR 000 MUR 000 Interest income 263,779 81,490 - Interest expense (202,691) (62,160) - Net interest income 61,088 19,330 - Fee and commission income 19,954 16,433 - Fee and commission expense (5,163) (8,383) - Net fee and commission income 14,791 8,050 - Net trading income 81,628 33,399 - Other operating income 3, ,477 33,502 - Operating income 161,356 60,882 - Allowance for credit impairment (11,162) (8,657) - Personnel expenses (73,602) (53,076) - Depreciation of equipment (2,295) (1,683) - Amortisation of intangible assets (3,222) (2,572) - Other expenses (46,747) (42,267) - (137,028) (108,255) - Profit before tax 24,328 (47,373) - Income tax expense /release (3,776) 7,023 - Profit for the year 20,552 (40,350) - 8 MBA PROFILE OF BANKS

11 Statements of Comprehensive Income AfrAsia Bank Limited Bank 18 months ended For The Year Ended 30 June MUR 000 MUR 000 MUR 000 Interest income 263,762 81,425 - Interest expense (202,852) (67,686) - Net interest income 60,910 13,739 - Fee and commission income 19,444 13,391 - Fee and commission expense (5,110) (937) - Net fee and commission income 14,334 12,454 - Net trading income 80,722 28,141 - Other operating income 3, ,561 28,244 - Operating income 159,805 54,437 - Allowance for credit impairment (11,162) (8,657) - Personnel expenses (72,717) (52,916) - Depreciation of equipment (2,283) (1,682) - Amortisation of intangible assets (3,221) (2,572) - Other expenses (46,169) (36,062) - (135,552) (101,889) - Profit before tax 24,253 (47,452) - Income tax expense /release (3,763) 7,035 - Profit for the year 20,490 (40,417) - MBA PROFILE OF BANKS 9

12 Contact Details: Bank of Baroda Bank of Baroda Building 22 Sir William Newton Street Port Louis, Mauritius Tel : (230) /05 Fax : (230) bobgen@intnet.mu Website : 10 MBA PROFILE OF BANKS

13 Bank of Baroda Bank of Baroda was established as a small regional bank of India which commenced its operations on 20 July 1908 in Baroda, India. Since then, it has continuously grown into a top notch Indian public sector bank with a network of 2,758 branches across India and a presence in 25 countries. The Government of India holds 54 % of its shareholding. In Mauritius, it commenced its operations in 1962 and has at present 6 domestic branches, a global banking business unit and 3 ATMs. Bank of Baroda also provides mobile banking services to customers of far-off villages in Mauritius - covering around 30 villages each week. The bank employs 80 staff covering both domestic and global banking business. Mission Statement: To be a top ranking national bank of international Standards committed to augmenting stakeholders value through concern, care and competence. MBA PROFILE OF BANKS 11

14 Statement of Financial Position Bank of Baroda As At 31 March MUR 000 MUR 000 MUR 000 ASSETS Cash and cash equivalents 474, , ,367 Securities and other investments 4,881,785 6,795,171 7,329,998 Loans and advances to banks 4,261,730 2,682,584 2,323,810 Other assets 252, , ,383 Total assets 9,870,788 10,097,565 10,189,558 LIABILITIES Deposits 8,397,374 7,660,407 8,992,168 Borrowings from banks 40,636 1,320,055 15,938 Other liabilities 269, , ,570 Total liabilities 8,707,019 9,236,603 9,322,676 Shareholders Equity Assigned Capital 200, , ,860 Retained earnings 588, , ,222 Reserves 374, , ,800 Total equity 1,163, , ,882 Total liabilities, equity and reserves 9,870,788 10,097,565 10,189, MBA PROFILE OF BANKS

15 Statement of Comprehensive Income Bank of Baroda For The Year Ended 31 March MUR 000 MUR 000 MUR 000 Interest income 577, , ,288 Interest expense (403,859) (532,566) (476,758) Net interest income 173, , ,530 Net interest income after provision for credit impairment losses 166, , ,899 Other income 50,999 40,803 41,192 Net operating income 217, , ,091 Salaries and human resource development (18,571) (17,132) (16,539) pension contribution and other staff benefits (3,494) (4,076) (4,643) Depreciation (2,794) (2,898) (3,565) Other administrative expenses (25,455) (32,053) (25,549) Other expenses (5,010) (55,324) (56,159) (50,296) Profit before income tax 162, , ,795 Income tax expense (16,670) (9,783) (8,494) Profit for the year 145,530 99, ,301 MBA PROFILE OF BANKS 13

16 Contact Details: Bank One Limited 16 Sir William Newton Street Port Louis, Mauritius Tel : (230) Fax : (230) info@bankone.mu Website : 14 MBA PROFILE OF BANKS

17 Bank One Limited Following the take-over of former First City Bank Ltd by CIEL Investment Ltd (50%) and Investment & Mortgages Bank of Kenya Limited (50%) on 22 February 2008, the bank has been rebranded to Bank One Limited on 8 August The new shareholders, with a strong local and regional market presence and knowledge, domain expertise and financial strength, together with a new management aim to transform the bank into a regional player. With an asset base of nearly MUR 6 billion, Bank One Limited is a medium size bank in Mauritius with a staff of 225 employees. The bank provides universal banking solutions for all its customers through its Retail, Private, Corporate, SME, and International Banking segments. Bank One operates through thirteen branches throughout the island with a clientele base of over 50,000. It also has a good network of 14 ATMs in the country. Our Vision: To become one of the leading banks in the domestic market and to be an international bank to reckon, in the next five years. We are focused on service excellence, where valued teams of intelligent, skilled people work in collaboration to support the aspirations of clients and the vitality of the community. MBA PROFILE OF BANKS 15

18 Statement of financial position Bank One Limited As at Dec-09 Dec-08 Jun-07 MUR 000 MUR 000 MUR 000 ASSETS Cash & cash equivalents 2,519, , ,706 Derivative assets held for risk management 5,080 18,522 - Loans and advances to banks 164, ,831 - Loans and advances to customers 5,604,683 3,931,820 1,633,017 Investment securities 1,083, ,796 1,906,966 Property, plant and equipment 327, , ,828 Intangible assets 47,676 26, Deferred tax assets 68,961 68,253 45,545 Other assets 700, , ,990 Total assets 10,522,710 6,817,098 4,440,625 LIABILITIES Deposits from banks Deposits from customers 9,479,512 6,133,712 4,110,400 Other borrowed funds - 5,406 19,658 Derivative liabilities held for risk management 1, Surbordinated liabilities 178, Current income tax liabilities Other liabilities 220, , ,339 Total liabilities 9,880,489 6,280,538 4,234,397 Sharereholders Equity Stated capital 491, , ,000 Share capital pending allotment 60, Call but not paid shares - 222,000 - Other reserves 82,179 73,206 98,206 Retained earnings/ (Revenue deficit) 8,586 (28,102) (341,978) Total equity 642, , ,228 Total liabilities, equity and reserves 10,522,710 6,817,098 4,440, MBA PROFILE OF BANKS

19 Statement of Comprehensive Income Bank One Limited For The Year Ended Dec-09 Dec-08 Jun-07 MUR 000 MUR 000 MUR 000 Interest income 607, , ,953 Interest expense (474,754) (564,348) (297,766) Net interest income 132,541 29,369 46,187 Fee and commission income 69,826 29,455 15,633 Fee and commission expense (6,396) (5,835) (3,917) Net fee and commission income 63,430 23,620 11,716 Net trading income 65,788 49,588 11,569 Other operating income 13, ,683 79,047 50,263 15,252 Operating Income 275, ,252 73,155 Net impairment loss on financial assets 10,700 (29,048) (9,053) Personnel expenses (144,646) (125,636) (62,777) Depreciation and amortisation (30,422) (35,456) (22,268) Other expenses (68,336) (86,814) (53,514) (232,704) (276,954) (147,612) Operating Profit 42,314 (173,702) (74,457) Exceptional items - 30,190 - Profit before income tax 42,314 (143,512) (74,457) Income tax expense (3,826) 22,708 (125,111) Profit for the year 38,488 (120,804) (199,568) MBA PROFILE OF BANKS 17

20 Contact Details: Banque des Mascareignes Ltée One Cathedral Square Level 8 16 Jules Koenig Street Port Louis, Mauritius Tel : (230) Fax : (230) / serviceclient@bm.mu Website : 18 MBA PROFILE OF BANKS

21 Banque des Mascareignes Ltée Banque des Mascareignes Ltée (BM) started operations in Mauritius in 2004 and subsequently merged with Mascareignes International Bank Ltd which was set up in 1991 as a global business bank. The share capital structure is held by one of the largest banking groups in France. With a team of 170 employees and backed by its strong parent company Groupe BPCE, Banque des Mascareignes Ltée strives to offer quality banking services and operates in the retail, corporate, global business and international finance markets from its head office in Port Louis and through its branch network in 11 locations. Mission Statement: «Mieux se connaître pour instaurer des relations de confiance durables» MBA PROFILE OF BANKS 19

22 Statement of financial position Banque des Mascareignes Ltée As at 31 December MUR 000 MUR 000 MUR 000 ASSETS Cash & cash equivalents 822,233 1,544,321 1,361,112 Trading assets - - 4,941,863 Derivative financial instruments Loans and advances to banks 4,540,941 5,671,204 Loans and advances to customers 9,764,382 8,640,995 6,586,429 Investment securities 1,458, , ,565 Property, plant and equipment 77,904 80,425 78,041 Intangible assets 23,402 43,544 59,208 Deferred tax assets 2,310-28,434 Other assets 368, , ,290 Total assets 17,058,279 17,338,207 14,009,942 LIABILITIES Deposits from banks - 181, ,036 Deposits from customers 9,304,441 6,929,034 4,999,935 Borrowed funds 6,002,760 8,744,486 7,564,278 Trading liabilities Derivative financial instruments Surbordinated liabilities 340, , ,613 Current income tax liabilities 9,084 5,300 - Defered tax liabilities Other liabilities 315, , ,417 Total liabilities 15,972,480 16,529,860 13,270,279 Sharereholders Equity Share Capital 838, , ,334 Retained earnings/ (Accumulated losses) 131,947 16,868 (37,204) Other reserves 115,118 81,145 66,533 Total equity 1,085, , ,663 Total liabilities, equity and reserves 17,058,279 17,338,207 14,009, MBA PROFILE OF BANKS

23 Statement of Comprehensive Income Banque des Mascareignes Ltée For The Year Ended 31 December MUR 000 MUR 000 MUR 000 Interest income 870, , ,277 Interest expense (484,399) (700,642) (615,914) Net interest income 386, , ,363 Fee and commission income 111,116 55,374 37,092 Fee and commission expense (33,898) (13,657) (24,809) Net fee and commission income 77,218 41,717 12,283 Net trading income 98, ,562 52,120 Other operating income 25,160 17,104 13, , ,666 65,259 Operating Income 587, , ,905 Net impairment loss on financial assets (85,297) (69,758) (56,310) Personnel expenses (146,343) (114,342) (81,868) Operating lease expenses (23,428) (19,324) (16,138) Depreciation and amortisation (34,875) (32,435) (31,737) Other expenses (141,940) (84,097) (64,956) (431,893) (319,956) (251,009) Operating Profit 155,706 88,183 3,896 Profit before income tax 155,706 88,183 3,896 Income tax expense (20,293) (31,134) (1,550) Profit for the year] 135,413 57,049 2,346 MBA PROFILE OF BANKS 21

24 Contact Details: Barclays Bank PLC Managing Director s Office 6th Floor, Barclays House 68/68A Cyber city Ebene, Mauritius Tel Fax barclays.mauritius@barclays.com Website : 22 MBA PROFILE OF BANKS

25 Barclays Bank PLC Barclays presence in Mauritius dates back to 1919 when it was incorporated under the name of National Bank of South Africa Ltd. Subsequently, the name changed to Barclays DCO in 1926, to Barclays Bank International in 1971 and Barclays Bank PLC in The Mauritius business is structured as a branch of Barclays Bank PLC (UK) and operates through three main divisions Retail, Corporate and International Banking, with the leasing company being a separate legal entity. Barclays Mauritius employs some 1,300 staff and the business is part of Barclays Global Retail and Commercial Banking Emerging Markets division. Barclays was the first bank in Mauritius to be granted an offshore banking licence and engages in banking activities in all foreign currencies. The International Banking Division offers traditional banking services with a client base of primarily non-residents. Its customer base consists of large international companies and multinationals as well as high net worth customers and private clients. Vision and Mission Statement In line with the global GRCB ambition, our vision is to be the best retail and commercial bank for every customer, every market, every product, every time and our mission is to be an innovative, customer focused bank that delivers superb products and services, ensures excellent careers for our people and contributes positively to the communities in which we live and work. MBA PROFILE OF BANKS 23

26 Statement of financial position Barclays Bank PLC As at 31 December MUR 000 MUR 000 MUR 000 ASSETS Cash and cash equivalents 21,260,000 43,236,000 43,980,000 Trading assets 85,000 89,000 74,000 Derivative financial instruments 301, ,000 69,000 Loans and advances to banks 31, ,000 81,000 Loans and advances to customers 49,514,000 60,452,000 43,911,000 Investment securities 12,195,000 9,325,000 13,807,000 Property, plant and equipment 726, , ,000 Intangible assets 103,000 35,000 4,000 Goodwill 65,000 69,000 61,000 Retirement benefit assets 33,000 62,000 63,000 Investment in subsidiary company 153, , ,000 Deferred income tax assets 89, Other assets 2,176,000 2,486,000 1,972,000 Total assets 86,731, ,532, ,433,000 LIABILITIES Deposits from banks 172,000 86, ,000 Deposits from customers 73,486,000 84,455,000 84,246,000 Derivative financial instruments 296, , ,000 Debt securities issued - 917, ,000 Other borrowed funds 5,166,000 22,465,000 11,191,000 Current income tax liabilities 171, , ,000 Deferred income tax liabilities - 2,000 74,000 Retirement benefit obligations 6,000 1,000 1,000 Provisions 149, , ,000 Other liabilities 801,000 1,517,000 1,947,000 Total liabilities 80,247, ,155,000 98,974,000 Shareholders Equity Assigned Capital 234, , ,000 Retained earnings / (Accumulated losses) 5,672,000 6,462,000 4,964,000 Others reserves 578, , ,000 Total equity 6,484,000 7,377,000 5,459,000 Total liabilities, equity and reserves 86,731, ,532, ,433, MBA PROFILE OF BANKS

27 Statement of Comprehensive Income Barclays Bank PLC For The Year Ended 31 December MUR 000 MUR 000 MUR 000 Interest income 4,692,000 6,986,000 6,574,000 Interest expense (2,375,000) (4,663,000) (4,279,000) Net interest income 2,317,000 2,323,000 2,295,000 Fee and commission income 485, , ,000 Fee and commission expense (66,000) (71,000) (50,000) Net fee and commission income 419, , ,000 Net trading income 685, , ,000 Net income from other financial instruments 27,000 37,000 - Other operating income 156,000 63, , , ,000 Operating income 3,604,000 3,800,000 3,512,000 Net impairment on financial assets (568,000) (247,000) (138,000) Personnel expenses (970,000) (922,000) (599,000) Operating lease expense (114,000) (49,000) (33,000) Depreciation and amortisation (112,000) (86,000) (23,000) Other expenses (657,000) (857,000) (977,000) (2,421,000) (2,161,000) (1,770,000) Profit before income tax 1,183,000 1,639,000 1,742,000 Income tax expense (98,000) (123,000) (219,000) Profit for the year 1,085,000 1,516,000 1,523,000 MBA PROFILE OF BANKS 25

28 Contact Details: Bramer Banking Corporation Ltd 26, Bourbon Street Port-Louis, Mauritius Tel: +(230) Fax: +(230) Website: 26 MBA PROFILE OF BANKS

29 Bramer Banking Corporation Ltd Bramer Banking Corporation Ltd or Bramer Bank, formerly known as South East Asian Bank (SEAB), was licensed by the Bank of Mauritius in August 1988 and started operations in June In April 2008, the British American Investment Group (BAI) took over SEAB and carried out a major rebranding exercise and changed its name to Bramer Banking Corporation Ltd. Prior to the takeover by BAI, SEAB was a member of the CIMB Group, Malaysia. BAI, listed on the Stock Exchange of Mauritius in 2003, has investments in six economic sectors of Mauritius, namely financial services, transportation, construction, commerce, tourism and healthcare, and a global presence in South Africa, Madagascar, Kenya, Dubai, France and Malta. As part of it expansion plan and to be closer to its cutomers Bramer Banking Corporation Ltd currently operates 16 outlets across the island. The Bank has also developed a range of new financial products and services to cater for the needs of its retail, corporate and investment banking customers. The launch of new products and services including Credit Cards, Internet Banking and Private Banking are also part of Bramer Bank s short-term strategy. Vision: The Bank s vision in the medium term is to become one of the major institutions within the banking sector in Mauritius providing services to both retail and corporate bodies. Mission Statement: To bring quality and innovative banking services to all segments of the population paying special attention to those out of the banking circuit as well as providing long term attractive source of funds to small and medium enterprises thus contributing to the economic development of the Country. MBA PROFILE OF BANKS 27

30 Statement of financial position Bramer Banking Corporation Ltd As at 31 December MUR 000 MUR 000 MUR 000 ASSETS Cash & cash equivalents 1,507, ,194 1,608,344 Trading assets 3,435 1, Derivative financial instruments Loans and advances to banks Loans and advances to customers 2,180,165 1,862,866 1,432,272 Investment securities 528, , ,685 Property, plant and equipment 118, , ,606 Intangible assets 22,433 17,693 18,332 Deferred tax assets Other assets 396, , ,592 Total assets 4,758,376 3,542,163 4,243,921 LIABILITIES Deposits from banks Deposits from customers 4,301,811 3,112,985 3,799,081 Trading liabilities - 1,693 1,608 Other borrowede funds 653 3,571 19,427 Derivative financial instruments Surbordinated liabilities ,356 Other borrowed funds Current income tax liabilities 2,457 6,357 2,213 Defered tax liabilities - 4,541 6,125 Provisions 3,909 2,519 2,478 Other liabilities 91,414 77, ,285 Total liabilities 4,400,244 3,208,714 3,956,573 Sharereholders Equity Share Capital 200, , ,000 Retained earnings/ (Accumulated losses) 118,160 65,246 36,443 Other reserves 39,972 68,203 50,905 Total equity 358, , ,348 Total liabilities, equity and reserves 4,758,376 3,542,163 4,243,921 Contingent liabilities 593, , , MBA PROFILE OF BANKS

31 Statement of Comprehensive Income Bramer Banking Corporation Ltd For The Year Ended 31 December MUR 000 MUR 000 MUR 000 Interest income 262, , ,393 Interest expense (151,179) (206,891) (267,209) Net interest income 111, , ,184 Fee and commission income 41,153 28,526 24,236 Fee and commission expense Net fee and commission income 41,153 28,526 24,236 Dividend Income Net income from other financial instruments carried at fair value Other operating income 109,012 43,080 40, ,322 43,634 41,047 Operating Income 261, , ,467 Net impairment loss on financial assets (31,135) (9,071) (6,282) Personnel expenses (87,242) (63,650) (48,960) Operating lease expenses (9,449) (5,619) (6,031) Depreciation and amortisation (24,388) (18,537) (17,248) Other expenses (63,753) (52,925) (36,587) (215,967) (149,802) 115,108 Operating Profit 45,834 44, ,575 Profit before income tax 45,834 44,888 54,359 Income tax expense (5,687) (5,003) (5,294) Profit for the year 40,147 39,885 49,065 MBA PROFILE OF BANKS 29

32 Contact Details: Deutsche Bank Mauritius Limited 4th Floor, Barkly Wharf East Le Caudan Waterfront, Port Louis PO Box 615, Port Louis, Mauritius Tel: Fax: Website: 30 MBA PROFILE OF BANKS

33 Deutsche Bank (Mauritius) Limited Deutsche Bank is a global investment bank with a strong and profitable private clients franchise. Established in 1870, it is listed on both the Frankfurt and New York Stock Exchanges. Deutsche Bank s offshore group, of which the Mauritius office forms part, is headquartered in Jersey and maintains offices in Cayman, Guernsey, Ireland, Singapore, Luxembourg, Benelux, Switzerland and Delaware. Deutsche Bank (Mauritius) Limited (DBML) which is based in Port Louis, is a fully-owned subsidiary of Deutsche Bank AG, Germany. DBML was incorporated in 1998 and began operating in early It provides a comprehensive range of global business banking services to financial institutions and intermediaries, international business groups and private clients through its Private Wealth Management, Fiduciary and Global Transaction Banking divisions. Deutsche Bank also runs a large in-sourcing operations base in Mauritius, which services a number of Deutsche Bank offices worldwide. It currently employs a total staff complement of over 250. Mission: We compete to be the leading global provider of financial solutions for demanding clients, creating exceptional value for our shareholders and people. Our Values: Performance: We are committed to a result-oriented culture Trust: Teamwork: Innovation: Client Focus: We behave reliably, fairly and honestly. We benefit from the diversity of our business and our people by working together to achieve success. We are constantly challenging conventional wisdom and developing new solutions to meet customer requirements. We place customers at the centre of our activities and they drive all that we do. MBA PROFILE OF BANKS 31

34 Statement of financial position Deutsche Bank (Mauritius) Ltd As at 31 December GBP GBP GBP ASSETS Cash and cash equivalents 488,497, ,379, ,999,261 Loans & advances to banks 1,371, ,288 4,343,171 Loans & advances to customers 245,266, ,268, ,661,784 Property, plant and equipment 1,787, , ,458 Other assets 2,805,748 4,254,680 4,486,777 Total assets 739,729, ,731, ,913,451 LIABILITIES Deposits from customers 470,223, ,168, ,073,424 Other borrowed funds 245,266, ,268, ,585,022 Current tax liabilities 245, , ,000 Other liabilities 2,698,832 3,313,324 3,673,812 Total liabilities 718,434, ,166, ,673,258 Shareholders Equity Share Capital 5,000,000 5,000,000 5,000,000 Revenue reserve 8,678,909 14,245,907 13,605,997 Other reserves 7,616,776 6,318,964 5,634,196 Total equity 21,295,685 25,564,871 24,240,193 Total liabilities, equity and reserves 739,729, ,731, ,913, MBA PROFILE OF BANKS

35 Statement of Comprehensive Income Deutsche Bank (Mauritius) Ltd For the year ended 31 December GBP GBP GBP Interest income 3,705,156 23,391,365 26,106,927 Interest expense (2,216,064) (16,405,105) (17,048,584) Net interest income 1,489,092 6,986,260 9,058,343 Fee and commission income 448, , ,310 Fee and commission expense (66,531) (89,624) (48,451) Net fee and commission income 382, , ,859 Net trading income 1,358,826 3,465,900 2,468,180 Other operating income 1,825,401 1,079,387 1,224,969 3,184,227 4,545,287 3,693,149 Operating income 5,055,426 12,067,078 13,146,351 Personnel expenses (1,992,183) (1,537,376) (774,481) Operating lease expenses (92,070) (84,214) (51,574) Depreciation (453,746) (185,236) (134,316) Other expenses (676,119) (1,367,807) (653,975) (3,214,118) (3,174,633) (1,614,346) Profit before income tax 1,841,308 8,892,445 11,532,005 Income tax expense (189,106) (367,767) (315,595) Profit for the year 1,652,202 8,524,678 11,216,410 MBA PROFILE OF BANKS 33

36 Contact Details: Habib Bank Ltd 30 Louis Pasteur Street Port Louis, Mauritius Tel : (230) Fax : (230) habib@intnet.mu 34 MBA PROFILE OF BANKS

37 Habib Bank Ltd Habib Bank Ltd (HBL) - the second largest bank of Pakistan was established in 1941 and was nationalised along with other banks in Pakistan in However, HBL was privatised in 2005 and is now owned by the Aga Khan Fund for Economic Development (AKFED), with shareholding of 51% and management control. HBL has been listed amongst the Top 500 Global Financial Brands 2009 by the Banker. It has a network of over 1,468 branches in Pakistan and can truly boast to be a household name in the country. International operations were expanded to include the USA, UK, France, Singapore, Oman, Belgium, Seychelles and Maldives and the Netherlands. Today, the bank has overseas branches in 25 countries. HBL started its operations in Mauritius in The bank has a network of 3 branches in the island with its main office situated in Port Louis. The other branches are in Rose Hill and Curepipe. Values: Excellence, Integrity, Customer Focus, Meritocracy and Progressiveness. Vision: Enabling people to advance with confidence and success. Mission Statement: To make customers prosper, our staff to excel and create value for stakeholders. MBA PROFILE OF BANKS 35

38 Statement of financial position Habib Bank Ltd As at 31 December MUR 000 MUR 000 MUR 000 ASSETS Cash and cash equivalents 39, , ,049 Loans and advances to banks 30,000 40,000 - Loans and advances to customers 306, , ,640 Investment securities 1,165, , ,414 Property, plant and equipment 14,176 11,789 8,144 Deferred tax assets 4,905 4,029 3,321 Other assets 65,043 60,593 59,179 Total assets 1,625,111 1,852,800 1,722,747 LIABILITIES Deposits from customers 1,229,538 1,491,984 1,380,455 Current tax liabilities 9,030 1,347 5,571 Other liabilities 3,414 48,967 42,427 49,576 Total liabilities 1,291,558 1,542,298 1,428,453 Shareholders Equity Share Capital 200, , ,000 Retained earnings / (Accumulated losses) 77,506 57,913 44,136 Others reserves 56,047 52,589 50,158 Total equity 333, , ,294 Total liabilities, equity and reserves 1,625,111 1,852,800 1,722, MBA PROFILE OF BANKS

39 Statement of Comprehensive Income Habib Bank Ltd For The Year Ended 31 December MUR 000 MUR 000 MUR 000 Interest income 125, , ,640 Interest expense (57,711) (78,569) (75,488) Net interest income 67,480 73,866 70,152 Net fee and commission income 3,780 3,253 2,544 Net trading income 10,091 10,177 11,536 Other operating income 3,424 3,170 3,322 13,515 13,347 14,858 Operating income 84,775 90,466 87,554 Net impairment on financial assets (3,050) (223) (1,084) Personnel expenses (32,015) (52,509) (33,026) Operating lease expense (3,811) (3,643) (3,465) Depreciation and amortisation (4,028) (3,792) (1,752) Other expenses (13,216) (11,552) (10,116) (56,120) (71,719) (49,443) Profit before income tax 28,655 18,747 38,111 Income tax expense (5,604) (2,539) (5,798) Profit for the year 23,051 16,208 32,313 MBA PROFILE OF BANKS 37

40 Contact Details: HSBC Bank (Mauritius) Limited 6th Floor, HSBC Centre, 18 CyberCity Ebene, Mauritius SWIFT: HSBCMUMUOBU Phone: Fax: Website: 38 MBA PROFILE OF BANKS

41 HSBC Bank (Mauritius) Limited HSBC Bank (Mauritius) Limited is part of an international banking and financial services organisation with a network of some 9,500 offices in 86 jurisdictions. With listings on the London, Hong Kong, New York, Paris and Bermuda stock exchanges, shares in HSBC Holdings PLC are held by around 200,000 shareholders in some 100 countries and territories. The shares are traded on the New York Stock Exchange in the form of American Depositary Receipts. The bank traces its origins back to the Hongkong and Shanghai Banking Corporation Limited, which was established in HSBC Bank (Mauritius) Limited is a wholly owned subsidiary of the HSBC Group, having been incorporated in Mauritius in It has a staff of about 40. Its products and services include multi-currency accounts, foreign exchange and treasury, trade services, credit facilities and HSBCnet, and focuses on International business. The HSBC Group operates another bank in Mauritius, the Hongkong and Shanghai Banking Corporation Limited, whose presence in Mauritius can be traced back to 1859, when the Chartered Mercantile Bank of India, London and China (the forerunner of the Mercantile Bank Ltd) established a branch in Port-Louis. Mission Statement: To be the world s leading financial services company. We want to be the first choice for our customers and for our employees. If HSBC can be the best place to bank and the best place to work, we will have built a sustainable business that will deliver for the long term for customers, colleagues, shareholders and society at large. MBA PROFILE OF BANKS 39

42 Statement of financial position HSBC Bank (Mauritius) Limited As at 31 December USD 000 USD 000 USD 000 ASSETS Cash & cash equivalents 1,621,327 1,309,422 2,520,861 Trading assets Derivative financial instruments 3, Loans and advances to banks 46, ,439 68,581 Loans and advances to customers 1,810,754 1,427, ,864 Investment securities ,307 21,282 Property, plant and equipment Intangible assets Deferred tax assets Other assets 7,384 15,558 27,069 Total assets 3,489,536 3,429,166 3,534,102 LIABILITIES Deposits from banks Deposits from customers 3,279,136 3,153,544 3,214,363 Trading liabilities Derivative financial instruments 3,031 33,648 8,405 Other borrowed funds 3,669 2, Current tax liabilities 1,329 3,768 2,589 Other liabilities 2,692 3,921 88,129 Total liabilities 3,290,145 3,198,001 3,313,756 Sharereholders Equity Share Capital - paid up 72,957 72,957 72,957 Retained earnings/ (Accumulated losses) 35,340 71,005 64,684 Other reserves 91,094 87,203 82,705 Total equity 199, , ,346 Total liabilities, equity and reserves 3,489,536 3,429,166 3,534, MBA PROFILE OF BANKS

43 Statement of Comprehensive Income HSBC Bank (Mauritius) Limited For the year ended 31 December USD 000 USD 000 USD 000 Interest income 43, , ,332 Interest expense (2,727) (33,973) (81,130) Net interest income 40,987 82,001 60,202 Fee and commission income 5,554 4,637 4,153 Fee and commission expense (4,529) (2,063) (817) Net fee and commission income 1,025 2,574 3,336 Net trading income 5,367 13,384 10,131 Net income/ (loss) from other financial instruments carried at fair value (2,081) (184) 2,175 Other operating income ,307 13,347 12,306 Operating Income 45,319 97,922 75,844 Personnel expenses (1,653) (2,064) (1,668) Operating lease expenses (153) (90) (52) Depreciation and amortisation (22) (20) (23) Other expenses (1,755) (1,082) (792) (3,583) (3,256) (2,535) Operating Profit 41,736 94,666 73,309 Profit before income tax 41,736 94,666 73,309 Income tax expense (2,049) (2,875) (2,638) Profit for the year 39,687 91,791 70,671 MBA PROFILE OF BANKS 41

44 Contact Details: Investec Bank (Mauritius) Limited 6 th floor, Dias Pier Building Le Caudan Waterfront Caudan Port-Louis Mauritius Tel : (230) Fax : (230) /3 infomru@investec.co.mu Website: 42 MBA PROFILE OF BANKS

45 Investec Bank (Mauritius) Limited Investec (listed in Johannesburg and London) is an international specialist banking group that provides a diverse range of financial products and services to a niche client base in three principal markets, South Africa, the United Kingdom and Australia, as well as certain other countries including Mauritius. The group was established in 1974 and currently has about 5900 employees. Investec focuses on delivering distinctive profitable solutions for its clients in five core areas of activity, namely Private Client Activities, Capital Markets, Investment Banking, Asset Management and Property Activities. Investec Bank (Mauritius) Limited was established as a wholly owned subsidiary of Investec Bank Limited in The bank employs a team of 75 staff and offers the following services: property finance, aircraft finance, structured finance, customised debt and equity products, commodity based finance, foreign exchange, deposit taking and trust and fiduciary services (through a wholly owned subsidiary, Investec Trust (Mauritius) Limited). An essential pillar of Investec s operating philosophy is that it does not seek to be all things to all people. The bank s specialised services are complemented by dedicated personal service, competitive rates and distinctive products. Mission statement: Investec strives to be a distinctive specialist banking group, driven by commitment to our core philosophies and values. MBA PROFILE OF BANKS 43

46 Statement of Financial Position Investec Bank (Mauritius) Limited As At 31 March USD 000 USD 000 USD 000 ASSETS Cash and cash equivalents 2,492 1, Due from banks 148,630 69,676 62,911 Derivative financial instruments 26,328 15,576 48,205 Investment securities 64, , ,496 Amount due from holding bank 92,000 83,116 85,402 Amount due from group companies 116,259 65,381 64,666 Loans and advances to customers 461, , ,450 Investment in associates 2,184 10,155 11,382 Investment in subsidiaries Equipment Deferred tax assets Other assets 1,190 1,133 4,326 Total assets 915,119 1,194, ,145 LIABILITIES Deposit from banks 105, , ,971 Securities sold under repurchase agreement with bank 898 1,497 2,360 Derivative financial instruments 22,182 39,752 82,543 Amounts due to holding bank 134, , ,146 Amounts due to group companies 49,069 86, ,223 Due to customers 439, , ,468 Debt securities in issue 2,190 2,554 2,862 Current tax liabilities 1, ,297 Other liabilities 9,234 16,762 8,348 Total liabilities 764,688 1,055, ,218 Shareholders Equity Issued Capital 56,478 34,634 38,819 Available-for-sale reserve (342) (1,188) 138 Foreign currency translation reserve (255) (2,305) (1,178) Others reserves 16,265 16,331 13,479 Retained earnings 78,285 91,746 87,669 Total equity 150, , ,927 Total liabilities, equity and reserves 915,119 1,194, , MBA PROFILE OF BANKS

47 Statement of Comprehensive Income Investec Bank (Mauritius) Limited For The Year Ended 31 March USD 000 USD 000 USD 000 Interest income 75,070 84,297 76,407 Interest expense (29,510) (40,323) (40,831) Net interest income 45,560 43,974 35,576 Fee and commission income 2,342 2,618 2,346 Fee and commission expense (2,338) (416) (628) Net fees and commission income 4 2,202 1,718 Net trading (loss)/ income 16,577 (12,535) 10,378 Net gain/ (loss) on financial instruments at fair value (40,974) 6,715 (3,870) Other income 3, (21,261) (5,820) 6,508 Operating income 24,303 40,356 43,802 Total imparment losses (13,469) (13,276) 355 Personnel expenses (3,865) (3,729) (2,244) Depreciation of equipment (94) (102) (91) Other operating expenses (2,473) (3,597) (2,026) (6,432) (7,428) (4,361) Profit before tax 4,402 19,652 39,796 Income tax expense (542) (1,008) (1,938) Profit for the year 3,860 18,644 37,858 MBA PROFILE OF BANKS 45

48 Contact Details: Mauritius Post and Cooperative Bank Ltd 1 Sir William Newton Street Port Louis, Mauritius Tel : (230) Fax : (230) mpcb@mpcb.mu Website: 46 MBA PROFILE OF BANKS

49 Mauritius Post and Cooperative Bank Ltd The Mauritius Post and Cooperative Bank Ltd was formed as a result of a merger between the New Cooperative Bank Ltd and the Post Office Savings Bank in August As at date, it has a network of 12 branches, including Head Office, and 3 offsite ATMs. Each branch is equipped with its ATM. MPCB has an array of attractive banking facilities to offer to its customers. MPCB Ltd and The Mauritius Post Ltd are business partners which bring in synergy to add value to the services being provided by the bank. The 103 Post Offices have a special counter in Mauritius, Rodrigues and Agalega which caters for the banking needs of the bank s customers. The bank s main shareholders are The Mauritius Post Limited (44.3%), Government of Mauritius (35.72%), The Sugar Investment Trust (10%), The Development Bank of Mauritius (8.93%) and Credit Cooperative Societies (1.05%). Mission Statement: To create value for our stakeholders reliably by delivering profitably personalized quality financial products and service excellence through integrity, continuous innovation, teamwork and performance driven culture MBA PROFILE OF BANKS 47

50 Statement of financial position Mauritius Post and Cooperative Bank Ltd As at 31 December MUR 000 MUR 000 MUR 000 ASSETS Cash & cash equivalents 284, , ,820 Trading assets 270, , ,674 Derivative financial instruments Loans and advances to banks Loans and advances to customers 6,093,457 5,075,879 4,228,585 Investment securities 833, ,580 1,483,097 Investment property 72,000 72,000 62,000 Property, plant and equipment 208, , ,038 Intangible assets Deferred tax assets Other assets 454, , ,452 Total assets 8,216,771 7,343,425 6,656,666 LIABILITIES Deposits from banks Deposits from customers 7,131,986 6,331,001 5,866,600 Trading liabilities Other borrowed funds - 95,000 - Derivative financial instruments Surbordinated liabilities Current income tax liabilities 20,765 1,719 1,641 Defered tax liability Other liabilities 364, , ,078 Total liabilities 7,518,329 6,737,021 6,127,471 Sharereholders Equity Share Capital 383, , ,962 Statutory Reserve 47,356 33,551 22,477 Retained earnings/ (Accumulated losses) 195, ,366 73,279 General Banking reserve 62,099 51,546 42,881 Revaluation reserve 9,979 9,979 6,596 Other reserves Total equity 698, , ,195 Total liabilities, equity and reserves 8,216,771 7,343,425 6,656, MBA PROFILE OF BANKS

51 Statement of Comprehensive Income Mauritius Post and Cooperative Bank Ltd For the year ended 31 December MUR 000 MUR 000 MUR 000 Interest income 731, , ,296 Interest expense (400,410) (468,532) (474,183) Net interest income 331, , ,112 Net fee and commission income 49,116 39,464 32,737 Net trading income 33,374 44,444 45,501 Other income 5,195 15,183 4,555 38,569 59,627 50,056 Operating Income 418, , ,905 Net impairment loss on financial assets (50,109) (27,050) (21,859) Personnel expenses (102,823) (89,011) (70,544) Operating lease expenses (18,466) (17,194) (16,596) Depreciation (34,629) (31,741) (28,958) Other expenses (94,533) (87,916) (73,811) (300,560) (252,912) (211,768) Operating Profit 118,210 75,547 50,137 Profit before income tax 118,208 75,545 50,134 Income tax expense (26,171) (1,718) (1,641) Profit for the year 92,037 73,826 48,494 MBA PROFILE OF BANKS 49

52 Contact Details: P.T. Bank Internasional Indonesia 5th Floor, Barkly Wharf Caudan Waterfront Port Louis, Rep. of Mauritius Tel: (230) Fax: (230) , (230) SWIFT: IBBKMUMU Website: bii.intnet.mu 50 MBA PROFILE OF BANKS

53 P.T. Bank Internasional Indonesia PT Bank Internasional Indonesia is an Indonesian bank with 250 branches extending over 26 provinces of Indonesia, as well as overseas branches in the Cayman Islands, Mauritius and Mumbai, and a subsidiary in Hong Kong. Its Head Office is located in Jakarta, Indonesia. Established in 1959, it became listed on the Jakarta Stock Exchange in As at 31 March 2009, its major shareholders were: Sorak Financial Holdings Pte. Ltd: 54.33% Mayban Offshore Corporate Services (Labuan) Sdn. Bhd: 43.19% Masyarakat:.48% It obtained its banking licence and commenced its banking operations in Mauritius in It currently employs a staff of 15. It offers a range of services including deposits, trade finance, corporate banking, remittance services, and also operates an online platform. Vision: To be the best offshore bank recognised as the world class standard for quality service and product innovation. MBA PROFILE OF BANKS 51

54 Statement of financial position P.T. Bank Internasional Indonesia As at 31 December USD 000 USD 000 USD 000 ASSETS Cash & cash equivalents 30,518 40,081 58,116 Trading assets Derivative financial instruments Loans and advances to banks Loans and advances to customers Investment securities 2,109 3,299 4,070 Property, plant and equipment Intangible assets Deferred tax assets Other assets Total assets 33,309 43,640 62,585 LIABILITIES Deposits from banks 64 6,569 11,404 Deposits from customers 10,951 16,795 30,795 Trading liabilities Derivative financial instruments Other borrowed funds Current income tax liabilities Other liabilities Total liabilities 11,059 23,452 42,534 Sharereholders Equity Assigned Capital 14,010 14,010 14,010 Retained earnings/ (Accumulated losses) 6,932 5,741 5,119 Other reserves 1, Total equity 22,250 20,188 20,051 Total liabilities, equity and reserves 33,309 43,640 62, MBA PROFILE OF BANKS

55 Statement of Comprehensive Income P.T. Bank Internasional Indonesia For the year ended 31 December USD 000 USD 000 USD 000 Interest income 1,101 1,693 2,805 Interest expense (33) (606) (900) Net interest income 1,068 1,087 1,905 Net fee and commission income Other operating income Operating Income 1,828 1,542 2,261 Net impairment loss on financial assets Personnel expenses (169) (217) (215) Operating lease expenses (56) (62) (51) Depreciation and amortisation (15) (21) (37) Other expenses (288) (248) (192) (529) (548) (495) Profit before income tax 1, ,766 Income tax expense (74) (87) (152) Profit for the year 1, ,614 MBA PROFILE OF BANKS 53

56 Contact Details: SBI (Mauritius) Ltd 34, Sir William Newton Street Port Louis, Mauritius Tel : (230) Fax : (230) info@sbimauritius.com Website: 54 MBA PROFILE OF BANKS

57 SBI (Mauritius) Ltd SBI (Mauritius) Ltd (SBIML) is the result of the amalgamation, in October 2008 of the Indian Ocean International Bank Ltd, a domestic bank, with the SBI International (Mauritius) Ltd, a global business bank, which had been operating in Mauritius since SBIML is a locally incorporated bank and a subsidiary of the State Bank of India, the largest commercial bank in India. SBI (Mauritius) Ltd has the following shareholders : State Bank of India 93.4% State Investment Corporation Ltd, Mauritius 1.7% Indian Ocean General Assurance Ltd 1.2% Other small shareholders 3.7% SBIML offers a range of advances and deposit products for both corporate and retail customers, apart from remittance facilities to anywhere in the world and in all the major foreign currencies. The bank operates 12 branches in Mauritius including Rodrigues and 10 ATMs at different locations. It actually employs some 170 people. Vision: To be the first choice solution provider for all banking Services. To be a symbol of trust, efficiency and courteous Service. To protect and promote interests of all Stakeholders through well trained and, upright and dedicated professionals. To strive for constant improvement in products, processes and delivery channels. MBA PROFILE OF BANKS 55

58 Statement of Financial Position SBI (Mauritius) Ltd As At 31 March USD USD USD ASSETS Cash and cash equivalents 37,669,727 70,698,904 82,225,554 Loans and advances to banks 21,301, ,239,935 4,316,165 Loans and advances to customers 480,676, ,108, ,430,349 Investment securities 109,471, ,714, ,211,167 Property, plant and equipment 6,166,566 6,791,663 7,043,009 Deferred tax assets 891, , ,971 Other assets 46,171,546 72,931,299 47,777,985 Total assets 702,347, ,742, ,467,200 LIABILITIES Deposits from customers 438,352, ,045, ,905,807 Other borrowed funds 71,500,000 46,089,650 92,559,786 Subordinated liabiabilities 6,817,208 8,082,246 6,803,762 Current income tax liabilities 1,345, , ,686 Other liabilities 51,153,148 77,674,590 48,612,289 Total liabilities 569,168, ,565, ,418,330 Shareholders Equity Share Capital 48,627,187 23,627,187 16,142,963 Share Premium 54,078,062 19,078,062 8,600,148 Retained earnings 22,454,475 16,567,501 7,462,342 Other reserves 8,019,527 5,903,785 4,843,417 Total equity 133,179,251 65,176,535 37,048,870 Total liabilities, equity and reserves 702,347, ,742, ,467, MBA PROFILE OF BANKS

59 Statement of Comprehensive Income SBI (Mauritius) Ltd For The Year Ended 31 March USD USD USD Interest income 42,688,064 43,307,731 24,441,710 Interest expense (24,200,592) (31,112,518) (17,249,872) Net interest income 18,487,472 12,195,213 7,191,838 Fee and commission income 5,485,998 2,230,350 1,359,466 Fee and commission expense (81,187) (115,568) (67,518) Net fee and commission income 5,404,811 2,114,782 1,291,948 Net trading income 1,159,572 1,156, ,833 Other operating income 47,715 (30,192) (2,613) 1,207,287 1,126, ,220 Operating income 25,099,570 15,436,066 9,212,006 Net impairment loss on financial assets (4,880,004) (1,055,563) (493,276) Personnel expenses (1,984,594) (2,212,858) (1,733,817) Depreciation (831,894) (678,245) (506,775) Other expenses (2,340,511) (2,202,290) (1,860,926) (10,037,003) (6,148,956) (4,594,794) Profit before income tax 15,062,567 9,287,110 4,617,212 Income tax expense (957,620) (907,043) (556,413) Profit for the year 14,104,947 8,380,067 4,060,799 MBA PROFILE OF BANKS 57

60 Contact Details: Standard Bank (Mauritius) Limited Medine Mews Building La Chaussee Street Port Louis, Mauritius Tel : (230) Fax : (230) hrmauritius@standardbank.co.za Website: 58 MBA PROFILE OF BANKS