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AfrAsia Bank Limited and its Group Entities
Annual Report 2015
page 143
Domestic IMC
2012
2013
2014
2015
International IMC
35
50
117
164
113
115
121
134
2011
2012
2013
2014
2015
50,000,000
40,000,000
30,000,000
20,000,000
10,000,000
0
CARGR + 64.4%
MUR
During the year under review, the Global Business Desk
continued its international expansion strategy by tapping into
business opportunities primarily in chosen markets across Africa.
The Desk recorded a resilient performance across all key product
lines by reaping the benefits of on-going initiatives intended to
strengthen the Bank’s strategic position whilst diversifying its
exposures. For instance, increased regional market presence was
obtained through both organic client growth and participation
in loan syndications via funded deals in various segments of
the market. The Bank’s asset exposure is now well-diversified
covering targeted opportunities in property, oil and gas, telecom,
power, infrastructure, mining, institutional funds, multinationals,
agriculture, commodities and specialized finance. The year
under review has also seen considerable grounds covered in
terms of country based portfolio diversification with exposure
to new African countries such as Côte d’Ivoire and Ethiopia.
The East Africa framework remains a key target market for the
Bank with some exciting initiatives to come from that space in
the coming year. The Desk has also worked hard at developing
its DCM capabilities using the Mauritius financial market as a
hub for this activity, specifically lead mandate arrangements
co-facilitated by AfrAsia Corporate Finance business.
NEW INCORPORATION OF GB1, GB2 AND GLOBAL FUNDS
GBL companies and Global Funds are structures that are registered with the Mauritius Financial Services Commission and the
Registrar of Companies. As at February 2015, there was a total of 10,226 GBL1 companies, 10,855 GBL2 companies and 891 Global
Funds registered in Mauritius. From the above graph, it can be noted that the increase in the number of GBL1 companies and the
Global Funds is progressive. It will be interesting to follow the growth trend of the GBL2 companies over the year.
The Desk has diversified its referral base over the past few years and also actively works with some 100+ trust companies, corporate
services providers and other financial services providers, based outside Mauritius.
DEPOSITS FORM CUSTOMERS - SEGMENT B
RELATIONSHIP WITH INTERNATIONAL MANAGEMENT COMPANIES