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AfricaMoney | August 20, 2017

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National Bank of Canada becomes a 9.5 % shareholder of AfrAsia Bank Limited

National Bank of Canada becomes a 9.5 % shareholder of AfrAsia Bank Limited

With this new partnership, AfrAsia Bank  limited considers that this demonstrates the trust that the National Bank of Canada has placed in its company model, its financial status and its positioning on the regional and international markets. (Image: Company)

AfrAsia Bank limited continues along the path toward diversification and strengthening the position of Mauritius as a financial center, according to the local newspaper Le Matinal.

This local banking institution has recently partner with the National Bank of Canada which has acquired 9, 5% shares, enabling it to increase its participation in the future.

For AfrAsia Bank limited, National Bank of Canada is a strategic partner of world class which adds to its structure of shareholding.

With this new partnership, AfrAsia Bank limited considers that this demonstrates the trust that the National Bank of Canada has placed in its company model, its financial status and its positioning on the regional and international markets.

For the Chief Executive Officer of the National Bank of Canada, the acquisition of 9,5% shares in AfrAsia Bank Limited is their first investment in Africa.

“We are very proud to collaborate with AfraAsia Bank Limited and we have also the opportunity to use our expertise and our resources so as to contribute to its development. We believe in rapidly emerging economies, which offer opportunities on the market” he said.

To date, AfrAsia Bank Limited already detains foreign partners who help to realize his growth plans and its strategic vision, such Intrasia Ca-pital of Singapore, Proparco and now the National Bank of Canada.

For its part the Chairman of the Board of Directors of AfrAsia Bank limited, Arnaud Lagesse, has chosen since the beginning opted for change and innovation in the local banking services.

“Since its creation AfrAsia`s vision was to bring changes and innovation in the local banking services and to develop from the regional and international level,” Arnaud Lagesse said.

“During the last seven years, we have been strengthening our local presence and at the same time strengthening our presence in our representative offices in South Africa and in London, and in our partner company in Zimbabwe,” he said

“With numerous representation offices, subsidiaries and partnerships, through which we can serve the customers in the United States, in Europe and on other continents, the National Bank of Canada is an important shareholder which can help to create Americans network as well as the reinforce the relations with the European markets,” he concluded.

About AfrAsia:

Strategically based in Mauritius and with representation in key markets, AfrAsia Bank Limited serves the Africa-Asia trade corridor, combining its strengths and expertise in four core divisions:

  • Private Banking and Wealth Management
  • Corporate and Investment Banking
  • Global Business
  • Treasury

Since inception, the Bank has expanded through a combination of substantial organic growth and a series of strategic acquisitions. Our core activities are in Mauritius, South Africa, United Kingdom and Zimbabwe, with marketing capabilities in Singapore, France and Switzerland.

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