Bramer Bank registers net profit of Rs 6 mn in March
Mauritius: The Bramer Bank has published its financial results for the first semester of 2013 and the group has shown a net profit of Rs 6 million at the end of March 31. During the last eight months ending on December 31, 2012, Bramer Bank has shown net profit of Rs 16.5 million. During the first semester of 2013, the bank has registered a rise in deposit to Rs 9.3 billion as compared to Rs 8.5 billion on December 31, 2013.
Moreover, the bank also registered an increase in advances from Rs 6.2 billion in December 2012 to Rs 6.7 million on March 31. Bramer Bank also saw a rise in its assets from Rs 10.9 billion in December 2012 to Rs 11.7 billion in March 2013. This represents a rise of 7.8 per cent in assets. On March 31, the share price of the bank stood at Rs 7.30.
The Bramer Bank has 19 retail outlets throughout the island and has plans to expand its business in the region. The bank is involved in corporate banking, small and medium enterprises, leasing and trade finance, among others.