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1
Assignments question:
EXTRACTED FROM INVESTORS MAG : Today the Mauritian banking industry has a
total of 20 banks, of which five are local banks, nine are foreign-owned subsidiaries,
one is a joint venture, four are foreign bank branches, and one is licensed as a private
bank. All these banks are licensed and authorized by the Bank of Mauritius to carry
out banking business locally and internationally.
The wide range of services provided characterizes the banking industry of Mauritius.
Besides traditional banking facilities, Mauritian banks offer specialized services such
as fund administration, custodial services, trusteeship, structured lending, structured
trade finance, international portfolio management, investment banking, private client
activities, treasury, and specialized finance.
The total assets of Mauritius’ banking sector reached Rs1,347.8 billion as of the end
of December 2018. An analysis by the Bank of Mauritius of the distribution of total
bank assets, as at the end of December 2018, showed that local banks held the largest
share of assets, which stood at 59.6%, followed by subsidiaries of foreign-owned
banks which held 36.3%. Branches of foreign-owned banks held the remaining 4.1%.