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AfrAsia Bank Limited and its Group Entities
Annual Report 2015
page 137
PRIVATE BANKING AND WEALTH MANAGEMENT
With clients in more than 121 countries, the Bank’s comprehensive offer addresses the needs of residents, non-residents and wealth
managers.
Private Banking aims to service high net worth clients
who are in need of tailor-made services or require
access to specialised funds.
The AfrAsia VISA Platinum prepaid card was launched
in April; the Bank is the first institution to offer a
Platinum prepaid card in the CEMEA (Central and
Eastern Europe, Middle East and Africa) region
An External Asset Management desk was set up
The Bank was honoured in several categories by
Euromoney Private Banking Survey, including ‘Best
Private Bank in Mauritius 2015’ as well as ‘Best Wealth
Management Provider in Mauritius 2014’ by World
Finance
The team was enhanced during the year through
the recruitment of Private Bankers with an extensive
knowledge of specific markets so as to better serve
these markets.
100%
ASSETS UNDER MANAGEMENT
Growth of
GROSS INCOME
Growth of
7%
over the year
HIGHLIGHTS
The Bank’s differentiation comes from:
the exclusivity of its products with a niche market exposure
including parts of Africa
ease of access to the Bank’s services
flexibility through a customised approach giving access to
large variety of funds, bonds, ETF and stocks
world class reporting including online access to custody
valuations
There is a clear growth in the number of high net worth individuals
(HNWI) across the globe, where a high net worth individual is
worth more than USD 1m. In 2014, the number of HNWI grew
by 7% implying an increase in the need of professional wealth
management, and in turn in the number of private banks offering
specialised services. On the local market however, there are to
date only 3 institutions endowed with the required expertise and
the adapted range of services out of the 23 licenced banks.
The Bank has built on 3 offers being the residents, the non-
residents and the wealth professionals in order to offer
a more adapted strategic approach. The Private Banking
business line provides solutions in line with the needs of our
customers and our relationship is built on trust and discretion.