Banks in Mauritius
The
banking sector in Mauritius currently includes 22 banks licensed by the central
bank, the Bank of Mauritius. Of these, 5 are local banks, 10 are foreign-owned
subsidiaries, 1 is a joint venture, 4 are branches of foreign banks and 2 are
private banks.
Banks in Mauritius provide a wide variety of services,
including: traditional banking; card-based payment services including credit and
debit card internet banking; and mobile banking facilities. Several banks also
provide specialised services such as: fund administration, trusteeship,
custodial services, structured trade finance, structured lending, international
portfolio management, investment banking, private client activities, and
specialised finance. International banks offer a range of global banking and
financial services to institutional, corporate and private clients.
Standard
Bank (Mauritius) Limited is a wholly owned subsidiary of the Standard Bank
Group, the largest bank in Africa in terms of assets. In Mauritius, its two
main pillars of business are Corporate and Investment Banking and Wealth and
Investment.
Leading bank in Africa
Standard Bank is a leading African financial services group with worldwide banking capabilities. With over 150 year history, Standard Bank now operates in 20 countries on the African continent as well as other selected emerging markets. Its strategy is to deliver sustainable shareholder value by serving the needs of customers through first class, on-the-ground operations in chosen countries in Africa. Its heritage, footprint and local insight, put the Bank in a strong position to connect its clients to opportunities across Africa and beyond.
SBI
(Mauritius) Ltd is one of the leading international banks operating in
Mauritius. The Bank is a locally incorporated subsidiary of the State
Bank of India (SBI), the largest bank in India. SBI has a long tradition
of trust with more than 200 years of service in the banking sector and
is the largest bank in India. The SBI Group has more than 16,801
branches, more than 53,871 ATMs and has a worldwide presence with 151
foreign offices in 32 countries spanning all time zones.
SBI
Mauritius has emerged in the local banking sector with an aim to make
world, class banking services accessible to all and offers dedicated
banking solutions and professional financial services to its valued
customers.
SBM Holdings Ltd is a financial investment holding company listed on the Stock Exchange of Mauritius, with a market capitalisation of MUR 215 billion as at 31 January 2017, representing the second largest listing in Mauritius. SBM Group is engaged in banking, non-banking financial services and non-financial investments, and is present in Mauritius, Madagascar and India, with a representative office in Myanmar. SBM Group has also been granted a banking license in the Seychelles, subject to conditions which it has undertaken to fulfil.
The banking entity in Mauritius, namely SBM Bank (Mauritius) Ltd ("SBM" or the "Bank"), is the flagship of the SBM Group. Established in 1973, SBM has a strong franchise in Mauritius, with a market share of over 20% in domestic advances and deposits. It caters for a wide range of customer segments including Personal, SME, Corporate, Cross Border and Financial Institutions.
Overview
The MCB Group is an integrated banking and financial services provider, offering a wide range of tailored and innovative solutions through dedicated local and foreign subsidiaries and associates. Following the restructuring exercise to separate its banking operations from its non-banking operations, the entities of the Group are organised in three distinct clusters namely Banking, Non-Banking Financial and Other Investments. The ultimate holding company is MCB Group Limited which is listed on the official market of the Stock Exchange of Mauritius Ltd (SEM) since 3 April 2014.