The Board and Shareholders of AfrAsia Bank Limited have approved a Rights Issue to raise an additional capital of up to MUR 500m at a Special Meeting on 5 April 2018 to cater for its growth and associated capital requirements. 

 

We inform our customers and the public that this exercise has no linkage with the freezing of certain accounts held in our books as mentioned in the local press recently.

 

Referring to the articles published on the restriction orders made by the Supreme Court of Mauritius, the Bank is fully collaborating with the concerned authorities on this matter. AfrAsia Bank Limited operates within a rigorous corporate governance framework and the freezing order does not affect, in any manner whatsoever, our operations, clients and commitments in Mauritius or other parts of the world.

 

We reassure you that, with a liquidity position well above regulatory guidelines (Liquidity Coverage Ratio at 285% as at 31 March 2018) and Loan-to-Deposit ratio at 25.4% as at 31 March 2018, the Bank’s Balance Sheet is in a healthy state as seen in our latest Unaudited Interim Financial Statement ended 31 March 2018 available here.

 

The Management