State Bank of Mauritius  posted a good growth in profit after tax of 20.62% to reach Rs 3.2bn for the twelve months ended 30 June 2013; compared to the corresponding period last year; mainly driven by increase in net interest income.

Revenue for the group was up by 15% to reach Rs19.91 Billion, resulting in a peak of Rs1.23 Billion in profit from operations. Compared to last year this was a notable increase of 21%.

In its drive to further expand into African markets, Absa Bank’s corporate and investment banking division announced that it would list its NewGold exchange-traded fund (ETF) on the Mauritius Stock Exchange (SEM), on July 26.

Financial services group Sanlam is due to launch its sub-Saharan Africa Real Estate Fund at the end of next month, and intends to list it on the Stock Exchange of Mauritius.