AfrAsia Bank Limited

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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 Increase Aftertax:US$1.8 billion (MUR:640 million) (2016)
US$ 570 million (MUR 1.96 billion) (2015)
Total assets US$2.6 billion (MUR:88 billion) (2016)
Number of employees
266 (2016)[1]
Subsidiaries See narrative
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[edit]

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 2016, the total asset valuation of the bank was approximately US$2.6 billion (MUR:88 billion).[3]

History[edit]

The bank was founded in 2007, in Mauritius. Today the Bank has subsidiaries in Mauritius, with representative offices in Cape Town and Johannesburg. Besides providing Private Banking & Personal Banking 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[edit]

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

Subsidiaries[edit]

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 Cape Town Office - Cape Town, South Africa South Africa - Representative Office
  3. AfrAsia Johannesburg Office - Johannesburg, South Africa South Africa - Representative Office

Ownership[edit]

As of June 2016,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[edit]

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 each of their South African cities; namely Cape Town, and Johannesburg.

Governance[edit]

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.[6]

See also[edit]

References[edit]

External links[edit]