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AfrAsia Bank Limited and its Group Entities
Annual Report 2015
page 159
Cost Control
While maintaining a well-managed cost control policy which resulted in a drop in the cost to income ratio from 42% to 36% between
2014 and 2015, the Bank, in parallel, continued to recognise the importance of investing in its brand, both locally and internationally,
its human and intellectual capabilities, resources and IT infrastructure, for the year 2014/15, MUR 294m was invested in staff costs
and MUR 296m in other overheads.
The Bank also fully provided for its remaining exposure on its Zimbabwean investment, which was closed due to persisting liquidity
challenges in Zimbabwe during the year under review. Such an exposure has affected the statement of profit or loss and other
comprehensive income of the Bank by MUR 707m during the year.
52
45
3
31
47
22
100
80
60
40
20
0
2013
2014
2015
Other operating income
Net trading income
Net fee income
27
60
13
61
39
58
42
100
80
60
40
20
0
2013
Other overheads
2014
2015
Personal expenses
50
50
OVERHEADS (%)
NON-INTEREST INCOME (%)