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 |
 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 |
| 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]
- Corporate and Investment Banking
- Private Banking and Wealth Management
- International Banking Solutions
- Treasury Services
Subsidiaries
As of June 2015, AfrAsia Bank Limited maintains the following subsidiaries and agencies:[5]
- AfrAsia Capital Management - Port Louis, Mauritius
- 100% shareholding - AfrAsia Corporate Finance - Port Louis, Mauritius - 50% shareholding
- AfrAsia Cape Town Office - Cape Town, South Africa
- Representative Office - AfrAsia Johannesburg Office - Johannesburg, South Africa - Representative Office
- AfrAsia London Office - London, 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 | ||||||||||||
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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]