SBM BANK
SBM ’ S ASHWIN RAMPHUL DISCUSSES HOW THE COMPANY ’ S DIGITAL TRANSFORMATION JOURNEY IS ALLOWING IT TO LEVERAGE THE LATEST TECHNOLOGY TO SYNERGISE ITS GLOBAL OPERATIONS
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C urrently the second largest bank in the country with a 25 % market share , SBM Bank ( Mauritius ) Ltd is part of the SBM Group , a leading financial group in Mauritius , with over 1,600 employees in Mauritius and a growing international presence . The Group is also present in Kenya , India and Madagascar and , from early next year , the Seychelles . Last year , SBM Group acquired a majority stake in Kenya ’ s Fidelity Commercial Bank Limited followed this year by the acquisition of selected assets and liabilities of Chase Bank ( in receivership ), which has positioned SBM Bank ( Kenya ) Ltd as a top Tier 2 Bank on the Kenyan market , with more than 60 branches across the country and around 700 employees .
SBM is also the first foreign bank in the world to have obtained a Wholly Owned Subsidiary Licence from the Reserve Bank of India to operate as a full-fledged wholly owned subsidiary on the Indian market . SBM is also expected to start operations in the Seychelles early next year . With digitalization as one of its strategic pillars , the bank is working to leverage the industry leading technology platform from Infosys Finacle , to provide the best possible customer experience in a digital world , as well
DECEMBER 2018