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Barclays Bank Mauritius awarded Best Transaction and Best Cash Management Bank in Mauritius for 2018
Dubai, November 29th 2018- Barclays Bank Mauritius was received the award for Best Transaction and Best Cash Management Bank at The Asian Banker MEA Risk and Transaction Awards 2018. The award ceremony was held in conjunction with the International Finance Dialogue, at Conrad, Dubai.
- A large international and domestic corporate base drove growth for transaction business
- Focusing on African growth opportunity via ABSA rebranding
- Adding value through technological enhancements
The MEA Risk and Transaction Awards Programme is designed to identify emerging best practices and outstanding achievements of the best-run risk management teams and evaluate their achievements in cash management, payments, and trade finance business. Taking on an audit-based approach from 2018, the recipients of these awards were determined through a combination of surveys, interviews and field research by The Asian Banker’s research staff.
Standing from left: Foo Boon Ping; Managing Editor; The Asian Banker, Gordian Gaeta and David Gyori; Members of the International Advisory Council of the MEA Risk and Transaction Awards Programme with Mr. Abdul Yassim; Director Trade and Working Capital; Barclays Bank Mauritius
A large international and domestic corporate base drove growth for transaction business
As part of Absa Group Limited, Barclays Bank Mauritius continued to leverage its large corporate base across international and domestic segments to drive growth for its transaction business. In 2017, deposits from corporate clients increased by 4.83%, of which time deposits with medium term-to-maturity, 6 to 12 months and 1-5 years, displayed a strong growth of 67% and 172% respectively. Its global presence of Barclays through operations in 50 countries across 27markets and building upon an extensive network in Africa, it is able to provide a complete range of sophisticated services spanning cash management, deposits, treasury, trade and lending to meet the needs of the most exacting customers.
Focusing on African growth opportunity via ABSA rebranding
The ongoing rebranding from Barclays Bank to ABSA Group redefines expansion
opportunity to key African markets. Committed to extend services to the African jurisdiction, the bank formulated plans to use its Nairobi technology innovation hub to encourage intra- trade services in the rich oil and gas sector of Uganda. In addition, it completed the launch of an automated cash and liquidity platform in the period under review. The system is geared to the central treasury, allowing the bank to maximise liquidity and returns for it corporate clients. The bank also made notable enhancement to offer trade finance through its online platform in Africa in 2017.
Adding value through technological enhancements
Despite the weak pick-up cashless transactions and slow transition towards blockchain and advanced financial infrastructures in Mauritius, the Bank collaborated with digital-only players in exploring new technology-based solutions to empower corporate banking services. It refined its banking strategy to shift focus away from competitive pricing, towards the value-added aspect of transaction banking business.
At the awards ceremony, Emirates NBD was named the Transaction Bank in the region. Other winning institutions include Egypt’s National Bank of Egypt, South Africa’s ABSA Bank, Qatar’s Commercial Bank, Barclays Bank Mauritius among others.
About The Asian Banker
The Asian Banker is the region’s most authoritative provider of strategic business intelligence to the financial services community. The company is headquartered in Singapore, with offices in Manila, Malaysia, Hong Kong, Beijing, and Dubai, as well as representatives in London, New York, and San Francisco. It has a business model that revolves around three core business lines: publications, research services, and forums.
For all Business Achievement Awards 2018 photos, please visit
https://www.facebook.com/pg/TheAsianBanker/photos/?tab=album&album_id=10156342028 179804
For more information please contact:
Mr. Foo Boon Ping
Managing Editor
Tel: (+65) 6236 6526
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