The 2012 Euromoney Private Banking Survey has awarded AfrAsia Bank two awards for private banking services, the most prominent being the ‘Best Local Private Bank in Mauritius’ and the other as ‘Best Private Bank for the super affluent in Mauritius’. The award ceremony and gala dinner were held on 16 February and attended by Thierry Vallet, Head of Private Banking and Strategic Development.
In the annual survey by leading financial magazine Euromoney, banks themselves vote on what they consider the best service provider in private banking for various categories."We thank Euromoney and our peers for this award being a local and international recognition for our continuous effort to always putting our clients' interest first through an open architecture investment approach, and providing best of breed products in private banking and asset management. Our goal is to expand regionally, seeking to be closer to our clients and serve them better," said James Benoit, AfrAsia Bank CEO.
After 4 years of operations, AfrAsia Bank is pursuing its growth strategy with great ambition and enthusiasm in Mauritius and internationally. The Bank has been expanding in various regions for the past years establishing three representative offices in South Africa, and setting up capital investment structures in Singapore, India and Australia to facilitate money flows into Africa. The commitment of the Bank to grow in the region was further demonstrated by its increased stake in AfrAsia Corporate Finance, its investment arm based in Cape Town, South Africa. With the latest acquisition of a 35% stake in Kingdom Financial Holdings Limited in Zimbabwe, AfrAsia Bank continue to serve the dynamic Africa-Asia trade and investment corridor, in which Mauritius plays a vital role as a regional financial and logistics hub.
“We are very proud of this achievement and the recognition from our peers. These awards stand as testament to AfrAsia Bank's commitment to building and maintaining collaborative and privileged relationships with our clients and providing sound wealth management solutions tailored to suit their individual, as well as family, wealth legacy aspirations," added Thierry Vallet.
The Bank was engaged in January 2012 in a successful capital raising exercise, being a further vote of confidence from existing shareholders, who believed in the Bank’s vision and strategies right from the start, and from new investors who have examined the Bank’s track record and are excited by growth prospects. The new capital brings its total regulatory capital (TIER1 and TIER2) to nearly Rs2.0 billion and positions the Bank to continue its profitable growth locally as well as its regional expansion strategy.