CORPORATE BANKING (CBD)
Despite the modest growth reflected in several key sectors and the many challenges identified on the local economic market, CBD managed to grow its deposits book by 31% year on year. CBD today contributes 32% to the bank’s gross loans and advances book.
INTERNATIONAL BANKING (IBD)
IBD remains the mainstay of the Bank, representing 46% of its total deposits. In pursuance of its diversification strategy, IBD has been able to acquire new geographies under its portfolio.
PRIVATE BANKING, WEALTH MANAGEMENT & SECURITIES SERVICES (PBWM)
PBWM assets book has more than doubled during the year under review. Its deposits book – comprising mainly foreign currencies –, has grown by an impressive +200%, while its customer base has experienced a 35% increase. During the year 2019, the assets under custody portfolio have grown by 119%, significantly contributing to its non-interest income.
Treasury remains one of the core contributors to the Bank’s non-interest income, with a share of 33% for the year ended December 2019. Despite the tough competition and the pressure on margins, the segment managed to show a 34% growth on its trade-related income, closing at MUR 138 million for the year under review.
The year 2019 has been a positive year overall, with e-commerce’s operating income growing by 8% compared to the previous year. The vision for this segment is to become a multi-faceted value addition partner to payments companies and e-commerce businesses worldwide.
In 2019, Bank One built on a number of initiatives to improve existing HR systems and processes, as well as develop new tools to enhance employee’s experience. These efforts spanned from recruitment and employer brand, talent development, engagement, performance and recognition, leadership and succession.
In 2019, great efforts were made on fixing the basics before setting out to transform the customer’s journey. The focus was especially on integrating the Voice of the Customer (VoC) in the Bank’s various activities, to create and enforce a customer-centric culture across the Bank.
2019 was geared towards fixing the fundamentals parallel to kick starting the transformation exercise, built around data, architecture, processes and team. We recorded an increase in customer satisfaction and have noted a decrease in service time.
Banking is a relationship business and nothing helps building stronger relations than face-to-face interactions. To that end, Bank One hosted and sponsored a selection of events in 2019, both new and in continuation of previous years.
Bank One adopts a holistic process when it comes to its integrated risk management, contributing to the Bank reaching its strategic objectives in a sound and controlled risk environment. The Board ensures proper governance is in place to allow for healthy risk discussions to take place in a forward-looking manner, while also learning from past risk events.
Interest rate risk
Bank One acknowledges the necessity of integrating sustainability into its business strategies, with the ever-increasing impact of environmental and social factors across businesses.
- The integration of sustainability into the bank’s decision-making process takes two key directions:
- Ensuring environmental and social responsibility in Bank One’s own operations, through environmental (such as reduction of operations waste and improvements in energy footprint) and socially responsible initiatives (such as improved human resources practices and Corporate Social Responsibility (CSR) initiatives of the Bank); and
- Integrating sustainability into the Bank’s core business decisions, through the integration of environmental and social criteria (E&S) into its clients- and other stakeholders related decision-making processes.
Bank One provides support to both community and environmental projects that help in removing social, environmental and economic barriers. The Bank encourages its team members to fully participate in such activities and support their efforts to make a difference. Over the past years, the Bank has remained committed towards improving the life of local communities for a more sustainable society. It has also provided continued financial and non-financial support to those in need. Our 2019 key initiatives are listed below.
EMPOWERING YOUNG PEOPLE AT NATIONAL LEVEL
In collaboration with NGO Junior Africa Mascareignes (JAM) and the Mauritius Institute of Training and Development (MITD), trainings were provided to 202 students (aged 16 to 25) across eight MITD Centres, in order to upskill and improve their employability rate.
WOMEN EMPOWERMENT PROGRAMME AT SOLITUDE
With the support of La Caz Lespwar (Caritas Solitude), a workshop was organised to help women lacking adequate financial support and technical guidance in achieving their entrepreneurial project.
BANK ONE’S IN-HOUSE DONATION DRIVE
In association with NGO The Good Shop, Bank One held its first-ever in-house donation drive across all its operations, between 9 and 13 December 2019. A total of 234 items, with an estimated weight of 22.134 lbs., were collected and distributed to the children of Ami De Don Bosco Orphanage, situated in Baie du Tombeau, on 24 December.