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20 Sep 2019

AfrAsia Bank's end of year result demonstrates sustained growth

Our financial performance for the twelve months ended 30 June 2019 has been very encouraging. The Bank continued to demonstrate improvement in operating performance across all business verticals.

Total operating income at MUR 3.7bn was 27.2% above the previous year whilst net profit after tax stood at MUR 1.6bn. Deposits grew by 18% indicating the confidence shown by a larger customer base across 169 countries. The cost to income ratio at 30% indicates that the Bank's effort to keep costs in check has been beneficial. A capital adequacy ratio of 15.85% gives us room for asset expansion in the future. You may see a copy of our financials here.

This strong result is a reflection of our collective and cooperative effort with all our stakeholders. The continuing support of our clients remains fundamental to our growth and the Bank shall constantly endeavor to ensure that clients' expectations are always exceeded.