AfrAsia Bank Limited
| Private Company | |
| Industry | Financial Services |
| Founded | 2007 |
| Headquarters | Bowen Square 10 Dr. Ferriere Street Port Louis, Mauritius |
|
Key people
|
Arnaud Lagesse Chairman, James Benoit Chief Executive Officer |
| Products | Corporate and Investment Banking, Private Banking and Wealth Management, International Banking, Treasury |
| Revenue |  Aftertax:US$9.34 million (MUR:270.36 million) (2012) |
| Total assets | US$773.54 million (MUR:22.4 billion) (2012) |
|
Number of employees
|
40 (2008)[1] |
| Subsidiaries | See narrative |
| Slogan | Bank Different |
| Website | Homepage |
Afrasia Bank Limited, commonly known as Afrasia Bank, but often referred to as Afrasia Bank, is a commercial 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]
Contents
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 2012[update], the total asset valuation of the bank was approximately US$773.54 million (MUR:22.4 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 and Zimbabwe, with representative offices in South Africa. Besides providing retail banking services, AfrAsia Bank focuses on Private Banking & Wealth Management, Corporate & Investment Banking and Global Business Solutions. It aspires to become a regional bank of international standing.
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 October 2013[update], AfrAsia Bank Limited maintains the following subsidiaries and agencies:[5]
- AXYS Capital Management - Port Louis, Mauritius
- 50% shareholding - AfrAsia Corporate Finance - Port Louis, Mauritius - 50% shareholding
- AfrAsia Cape Town Office - Cape Town, South Africa
- Representative Office - AfrAsia Durban Office - Durban, South Africa - Representative Office
- AfrAsia Johannesburg Office - Johannesburg, South Africa - Representative Office
- AfrAsia Bank Zimbabwe Limited - Harare, Zimbabwe
- 54% shareholding
Ownership
As of June 2012[update],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. There is no mention of any other branch within Mauritius. It also maintains a representative office in each of their South African cities; namely Cape Town, Durban and Johannesburg.
Governance
The bank is governed by a ten-person Board of Directors. The Chairman of the board is Arnaud Lagesse, one of the non-Executive directors. James Benoit serves as the Managing Director and Chief Executive Officer.[7]
