AfrAsia Bank Limited

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AfrAsia Bank Limited
TypePrivate Company
IndustryFinancial services
Founded2007
HeadquartersBowen Square
10 Dr. Ferriere Street
Port Louis, Mauritius
Key people
Thierry Vallet
ProductsCorporate and Investment Banking, Private Banking and Wealth Management, , Treasury
RevenueIncrease Aftertax: US$ 26 million (MUR 921 million) (2018)
US$ 8.7 million (MUR 2.98 billion) (2018)
Total assetsUS$ 3.5 billion (MUR 121 billion) (2018)
Number of employees
368 (2018)[1]
WebsiteAfrAsia Bank Limitied

AfrAsia Bank Limited, commonly known as AfrAsia Bank, is authorized and regulated by the Bank of Mauritius.[2] Headquartered in the Mauritius International Financial Centre with representative office in South Africa, AfrAsia specialises in banking that builds bridges between Africa, Asia and the World.

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 2018, the total asset valuation of the bank was approximately US$3.5 billion (MUR 121 billion).[3]

History[]

The bank was founded by Jamess Benoit (resigned as of 2016) and others in 2007, in Mauritius. Today the Bank has subsidiaries in Mauritius, with a representative office in Johannesburg. Besides providing Private Banking & Personal Banking the bank focuses on Corporate & Investment Banking, Global Business Solutions and Treasury.[citation needed]

Organizational structure[]

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

  • Corporate and Investment Banking
  • Private Banking and Wealth Management
  • International Banking Solutions
  • Treasury Services

Subsidiaries[]

As of June 2016, AfrAsia Bank Limited maintains the following subsidiaries and agencies:

  1. AfrAsia Capital Management - Port Louis, Mauritius Mauritius - 100% shareholding
  2. AfrAsia Johannesburg Office - Johannesburg, South Africa South Africa - Representative Office

Ownership[]

as of June 2018,the shareholding in the stock of the bank included the following corporations and individuals:[5]

AfrAsia Bank Stock Ownership
Rank Name of Owner
1 IBL, a Mauritian Conglomerate
2 National Bank of Canada
3 INTRASIA 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 NeXTeracom, Ebene. It also maintains a representative office in South African city namely Johannesburg.

Governance[]

The bank is governed by an eight-person board of directors. One of the non-executive directors is Sanjiv Bhasin who serves as the chief executive officer.[6]

Wealth Reports[]

AfrAsia Bank publishes a number of wealth reports annually, including the Africa Wealth Report and the Global Wealth Migration Review.[7]

See also[]

References[]

  1. ^ [1]
  2. ^ List of Licensed Commercial Banks In Mauritius Archived 2013-05-08 at the Wayback Machine
  3. ^ https://www.afrasiabank.com/media/3223/condensed-audited-financial-statements-for-the-year-ended-30-june-2018.pdf
  4. ^ afrasiabank.com. "Our Profile - AfrAsia Bank | Corporate & Investment Banking | Private Banking & Wealth Management | International Banking | Treasury". www.afrasiabank.com. Archived from the original on 2014-06-26. Retrieved 2017-08-23.
  5. ^ afrasiabank.com. "Our Shareholders - AfrAsia Bank | Corporate & Investment Banking | Private Banking & Wealth Management | International Banking | Treasury". www.afrasiabank.com. Retrieved 2017-08-23.
  6. ^ afrasiabank.com. "Board of Directors - AfrAsia Bank | Corporate & Investment Banking | Private Banking & Wealth Management | International Banking | Treasury". www.afrasiabank.com. Archived from the original on 2019-01-15. Retrieved 2017-08-23.
  7. ^ "AfrAsia Bank Research". AfrAsia Bank Limited. 2019. Retrieved April 22, 2019.
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