AfrAsia Bank Limited
AfrAsia Bank Limited is a Mauritius-based private bank founded in 2007, majority-owned by The Access Bank UK, offering private banking, corporate banking, global business banking, and treasury services to HNW individuals, corporates, and international structures across Africa, Asia, and the Middle East.
- Company typePrivate
- Founded2007
- HeadquartersPort Louis Town, Mauritius
- Headcount251–500
- GTM typeB2B and B2C
- OfferingServices
What AfrAsia Bank Limited does
AfrAsia Bank Limited is a Mauritius-headquartered, privately held financial institution founded in 2007, operating as a relationship-driven bank across four business segments: Private Banking & Wealth Management, Corporate Banking, Global Business Banking, and Treasury & Markets. It serves high-net-worth individuals, corporate clients, and global business entities (including trusts, funds, and foundations), with a particular emphasis on cross-border financial connectivity between Africa, Asia, and the Middle East, anchored in the Mauritius International Financial Centre. The bank distributes through physical branches in Mauritius, a Dubai DIFC branch, a Johannesburg representative office, and digital channels including individual and corporate online banking portals, supported by correspondent banking relationships for international settlement.
The bank's revenue model combines net interest income (loans, financing, credit facilities), transaction and fee income (cash management, trade finance, FX, account maintenance, card services), and wealth management income (asset management, custody, structured products, advisory). Pricing is relationship-based, with published tariff guides for resident and non-resident clients and interest rates revised in response to Bank of Mauritius key rate moves. The bank holds a Mauritius Primary Dealer accreditation (since 2017) and operates a Treasury Centre of Excellence providing FX, money-market, fixed-income, and structured derivative solutions. Its products include the World Business MasterCard, Titanium MasterCard, VISA Platinum Prepaid Card (in MUR/EUR/USD), the XtraMiles loyalty programme (launched 2013, Africa's first banking rewards programme), and Global Custody Services delivered via a 2011 partnership with ABN AMRO and BNP Paribas. Technology is described as 'not disclosed' in available sources, with no public AI/ML, API, or platform-as-a-service offerings identified.
Since May 2025, AfrAsia has been a 76%-owned subsidiary of The Access Bank UK Limited (itself a wholly owned subsidiary of London-based Access Bank Plc), with strategic shareholder IBL Group retaining a stake. The bank has received extensive industry recognition, including repeated Best Bank in Mauritius awards from Global Finance (2016–2023), Best FX Bank in Mauritius (2023–2025), Best Private Bank in Mauritius from Euromoney (2020–2024), and a CAMEL Rating of 2+ from the Bank of Mauritius (highest in Mauritius, 2012). Headcount is reported in the 251–500 range, and the bank is actively operating with rate revisions and product maintenance communications continuing through mid-2026.
AfrAsia Bank Limited firmographics
Firmographics- Name
- AfrAsia Bank Limited
- Legal name
- AfrAsia Bank Limited
- Website
- https://afrasiabank.com
- Company type
- Private
- Founded year
- 2007
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- AfrAsia Bank Limited is a Mauritius-based private bank founded in 2007, majority-owned by The Access Bank UK, offering private banking, corporate banking, global business banking, and treasury services to HNW individuals, corporates, and international structures across Africa, Asia, and the Middle East.
- Ownership category
- akta.pro rank
AfrAsia Bank Limited industry classification
Industry- Product category
- Private & Corporate Banking
- NAICS
- Commercial Banking (522110), Depository Credit Intermediation (5221)
- SIC
- National Commercial Banks (6021), State Commercial Banks (6022)
- akta.pro primary industry
- Islamic Corporate Banking (FSABAGAC)
- akta.pro secondary industries
- SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC), Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG), Islamic Transaction Banking (Cash Management & Treasury Services) (FSABAGAF)
Keywords
Where AfrAsia Bank Limited is headquartered
LocationHeadquarters
- HQ city
- Port Louis Town
- HQ country
- Mauritius
- HQ region
- Africa
Offices3 records
Markets served
AfrAsia Bank Limited business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others
Revenue model
- Interest Income: The bank generates revenue from interest earned on loans, financing solutions, and credit facilities extended to corporate and individual clients.
- Banking and Transaction Fees: Fees from cash management, trade finance, foreign exchange services, account maintenance, and card-related services for private, corporate, and international banking clients.
- Investment Solutions and Wealth Management: Revenue from asset management, custody services, structured products, and investment advisory services for private banking and wealth management clients.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Interest rates vary by product and account type, with publicly listed exchange rates and interest rate revisions published periodically. |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels4 records
AfrAsia Bank Limited product offering
Product offeringCore offering
AfrAsia Bank Limited is a Mauritian commercial bank delivering private banking, corporate and institutional banking, international banking, and treasury & markets services. Its product set includes deposit accounts, credit and prepaid cards (World Business Mastercard, Titanium Mastercard, VISA Platinum), loans, trade finance, cash management, foreign exchange, fixed income, wealth management, asset management, custody, and correspondent banking. The bank serves high-net-worth individuals, corporates, and global business entities from its Mauritius headquarters, Dubai DIFC branch, and Johannesburg representative office, supported by individual and corporate online banking platforms.
Product overview
AfrAsia Bank operates as a Mauritian-based financial institution offering a comprehensive banking platform organized across four core business segments: Private Banking (personalized services for high-net-worth individuals including cards, accounts, investment solutions, loans, and treasury), Corporate and Institutional Banking (commercial solutions covering cash management, financing, trade finance, and investments), International Banking (global business services for international companies, trusts, funds, and foundations), and Treasury & Markets (foreign exchange, money markets, fixed income, and structuring solutions). The bank provides an integrated digital banking platform with both individual and corporate online banking channels, supported by a growing network of international offices including Dubai and South Africa.
Differentiator
Problem solved
Functional benefit
Brands
- XtraMiles: Africa's first banking rewards programme launched in 2013
- Spinnaker Savings Account
- World MasterCard
- Titanium MasterCard
- VISA Platinum Prepaid Card
Products and services
- Private Banking Personalized banking services for high-net-worth individuals covering cards, accounts, investment solutions, loans, treasury, and the XtraMiles rewards programme, delivered through dedicated private bankers and relationship managers.
- Corporate and Institutional Banking Commercial banking solutions for businesses offering cash management, financing solutions, trade finance, investment solutions, and corporate cards.
- International Banking Global business banking services for international companies, trusts, funds, and foundations, including transactional services, cash management, and correspondent banking relationships.
- Treasury & Markets Foreign exchange, money markets, fixed income, and structuring solutions for both local and regional markets, offered through the Treasury Centre of Excellence.
- Wealth Management Comprehensive wealth management services for private clients including asset management, custody, and investment advisory.
- World Business Mastercard Credit Card Premium credit card targeting high-net-worth individuals and business clients with exclusive benefits and global acceptance.
- Titanium MasterCard Credit Card Credit card offering titanium-level benefits and services for discerning customers.
- VISA Platinum Prepaid Card Prepaid card available in MUR, EUR, and USD currencies for flexible international spending.
- XtraMiles Rewards Programme Africa's first banking rewards programme allowing customers to earn and redeem miles on their credit card spending.
- Spinnaker Savings Account Savings account offering competitive interest rates and flexible access to funds.
- Cash Management Corporate and international cash management solutions for efficient liquidity and payment operations.
- Trade Finance Trade finance solutions supporting import, export, and international trade transactions for corporate clients.
- Global Custody Services Custody services for global investments, offered in partnership with ABN AMRO Bank and BNP Paribas.
- Correspondent Banking International correspondent banking relationships facilitating cross-border transactions and global banking connectivity.
- Financing Solutions Corporate financing solutions covering short- and long-term funding, structured products, and term loans for business clients.
- Investment Solutions Investment solutions covering structured products, fixed income, and advisory services for private, corporate, and international clients.
Quantifiable outcome
- Ranked 1st in Africa for ease of doing business, economic freedom, and quality of life (Mauritius — source of jurisdictional advantage).
- +3 more outcomes
Companies that use AfrAsia Bank Limited
Customer profileNamed customers4 records
Segments4 records
Ideal customer profiles3 records
AfrAsia Bank Limited technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AfrAsia Bank Limited partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core and flagship.
- ABN AMRO Bank and BNP ParibascoreIn 2011, AfrAsia Bank launched Global Custody Services in association with ABN AMRO Bank and BNP Paribas, leveraging these global custodians' infrastructure to provide international custody services to clients.
- IBL GroupcoreIBL Group is listed as a strategic shareholder of AfrAsia Bank, alongside The Access Bank UK Limited. IBL Group is a diversified Mauritius-based conglomerate with operations across multiple sectors.
- European Tour, Sunshine Tour, Asian TourflagshipAfrAsia Bank is the title sponsor of the AfrAsia Bank Mauritius Open, the first international golf tournament tri-sanctioned by the European Tour, Sunshine Tour, and Asian Tour, demonstrating flagship brand sponsorship and positioning.
Scale indicators3 records
Recent moves6 records
Expansion highlights5 records
AfrAsia Bank Limited competitors and assessment
Company assessmentBroad incumbents
- Standard Bank Group: Standard Bank is Africa's largest banking group by assets, with deep corporate, investment banking, and transactional banking capabilities. It competes with AfrAsia for African corporate and cross-border banking clients.
- Nedbank Group: Nedbank is a South African banking group with corporate, investment, and wealth management offerings serving African clients. It is comparable to AfrAsia in serving cross-border African corporate and HNW banking needs.
- JPMorgan Private Bank: JPMorgan Private Bank is a global wealth manager serving HNW and ultra-HNW clients. It competes with AfrAsia for HNW private banking mandates and global custody/advisory services for Africa-linked wealth.
- Absa Group: Absa is a pan-African banking group offering corporate, investment, and wealth management services across multiple African markets. It competes with AfrAsia on African corporate banking mandates and cross-border deal flow.
Regional players
- Bank of Baroda (Mauritius): Bank of Baroda operates a Mauritius branch focused on corporate and trade finance. It is comparable as another international bank leveraging the Mauritius IFC for cross-border Africa-India banking.
Direct peers
- Standard Chartered Bank Mauritius: Standard Chartered maintains a significant Mauritius presence focused on international, corporate, and private banking, making it a direct competitor in the same IFC and cross-border banking niche.
- HSBC Mauritius: HSBC operates in Mauritius offering international and private banking, competing directly with AfrAsia for global business clients, HNW private banking, and trade finance mandates through its own IFC franchise.
- Rothschild & Co: Rothschild is a global private banking and wealth advisory firm serving HNW and ultra-HNW clients, comparable to AfrAsia's private banking and wealth management franchise in scope and target clientele.
- SBM Bank (Mauritius): State Bank of Mauritius is a major local competitor with comparable commercial and international banking offerings. It directly competes with AfrAsia across corporate, retail, and global business segments within the Mauritius IFC.
- MCB Group: MCB Group is the largest banking group in Mauritius, offering commercial, private, and international banking across similar customer segments. As the dominant local incumbent, it is the closest direct comparable to AfrAsia across corporate, private, and global business banking.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
AfrAsia Bank Limited social profiles
Digital presenceAfrAsia Bank Limited financial estimates
Financial estimateRevenue estimate
Valuation estimate
AfrAsia Bank Limited leadership team
Management profileNumber of profiles
Profiles19 records
AfrAsia Bank Limited subsidiaries and ownership
Company hierarchySubsidiaries1 record
AfrAsia Bank Limited funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
AfrAsia Bank Limited M&A and investment
M&A and investmentM&A
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about AfrAsia Bank Limited
What does AfrAsia Bank Limited do?
AfrAsia Bank Limited is a Mauritian commercial bank delivering private banking, corporate and institutional banking, international banking, and treasury & markets services. Its product set includes deposit accounts, credit and prepaid cards (World Business Mastercard, Titanium Mastercard, VISA Platinum), loans, trade finance, cash management, foreign exchange, fixed income, wealth management, asset management, custody, and correspondent banking. The bank serves high-net-worth individuals, corporates, and global business entities from its Mauritius headquarters, Dubai DIFC branch, and Johannesburg representative office, supported by individual and corporate online banking platforms.
Is AfrAsia Bank Limited a public or private company?
AfrAsia Bank Limited is a private company. It is classified as corporate owned and is currently operating.
When was AfrAsia Bank Limited founded?
AfrAsia Bank Limited was founded in 2007. It employs 251 to 500 people.
Where is AfrAsia Bank Limited based?
AfrAsia Bank Limited is headquartered in Port Louis Town, Mauritius, in the Africa region.
How does AfrAsia Bank Limited make money?
Three revenue lines are on record. Interest Income is the primary driver. The others are banking and Transaction Fees and investment Solutions and Wealth Management.
Who are AfrAsia Bank Limited's main competitors?
Broad incumbents on record are Standard Bank Group, Nedbank Group, JPMorgan Private Bank and Absa Group. Bank of Baroda (Mauritius) is listed as a regional player. Direct peers are Standard Chartered Bank Mauritius, HSBC Mauritius, Rothschild & Co, SBM Bank (Mauritius) and MCB Group.
Does AfrAsia Bank Limited have an API?
No public API is recorded for AfrAsia Bank Limited.
What industry is AfrAsia Bank Limited in?
AfrAsia Bank Limited's product category is Private & Corporate Banking. Its primary akta.pro industry code is FSABAGAC, Islamic Corporate Banking, with a secondary code of FSABABAC, SME Deposits & Business Accounts (Operating, Savings, CDs). Its NAICS code is 522110 and its SIC code is 6021.