AfrAsia Bank Limited

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.

AfrAsia Bank Limited
Private Company
IndustryFinancial Services
Founded2007
HeadquartersBowen Square
10 Dr. Ferriere Street
Port Louis, Mauritius
Key people
Sanjiv Bhasin
Chief Executive Officer
ProductsCorporate and Investment Banking, Private Banking and Wealth Management, International Banking, Treasury
Revenue 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

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.

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 - 100% shareholding
  2. AfrAsia Johannesburg Office - Johannesburg, 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
RankName of Owner
1IBL, a Mauritian Conglomerate
2National Bank of Canada
3INTRASIA 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
  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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