The Mauritius Bankers Association was first established in 1967 as an association of the commercial banks authorised to conduct banking business in Mauritius. In 2001, it changed its status to that of a company and was thus incorporated as a non-profit making public company, limited by guarantee, whose main objectives are:
• The protection, development and represtirt-aek?.? o f shp rights and interests of its members;
• The support of the interests of its members in their relations with public or government bodies;
• The provision of a platform to facilitate the study of all issues and problems relating to the banking and finance business;
• The promotion and establishment of conditions conducive to competitive, profitable and responsible banking and finance business; and
• The encouragement of the study of issues affecting the science of banking and finance and any field related to the banking business.
Its members comprise io commercial banks holding a Category 1 Banking Licence namely: Bank of Baroda, Barclays Bank PLC, First City Bank, Habib Bank, Hong Kong & Shanghai Banking Corporation Ltd., Indian Ocean International Bank Ltd, Mauritius Commercial Bank Ltd, Mauritius Posts and Co-operative Bank Ltd. South East Asian bank Ltd, and the State Bank of Mauritius Ltd.
US$52 million, or 2.5%, from US$2,071 million as at end-June 2002 to US$2,019 million as at end-June 2003. Category 2 banks' investment went up by US$53 million, from US$ 183 million as at end-June 2002 to US$ 236 million end-June 2003.
Non-Bank Financial Intermediaries
Non-Bank Deposit-Taking Institutions Fourteen companies have been licensed to carry on non-bank deposit-taking business in Mauritius. Of these fourteen companies, twelve companies are currently engaged in leasing activities and mortgage financing.
Leasing companies in Mauritius have Seen set up as subsidiaries of major panics, insurance companies and conglomerates as a means to service customers of their parent companies and to offer a one-stop service to existing clients for insurance and mortgage loan products. Prospects for the leasing sector look good in the ,ears ahead and will follow international market trends as demand for lease Mancing continues to increase with the expansion of business for small and medium enterprise.
Business in the leasing sector remains very concentrated with 4 companies leading the sector. Thus in 2002, assets of the 4 largest leasing companies represented 82% of the total asset base
of the sector, whilst 87% of the total income and 88% of the total profit before tax were generated by these same 4 companies.
Total assets of the non-bank deposit-taking institutions went up by Rs 4,934 million, or 31.1%, from Rs 15,853 million at the end of June 2002 to Rs 20,787 million at the end of June 2003. Capital and reserves of non-bank deposit-taking institutions went up by Rs 553 million, or 19.4%, from Rs 2,85o at the end of June 2002 to Rs 3,403 million at the end of June 2003. Total deposits mobilized by these institutions rose significantly by Rs 5,283 million, or 104.8%, from Rs 5,o43 million at the end of June 2002 to Rs 10,326 million at the end of June 2003.