Award 2005

SBM has once again achieved top ranking in an international survey of world banks.

Euromoney, a leading global publication within the Financial Services Sector, has awarded SBM “Best Bank in Mauritius” in their annual Awards for Excellence 2005. This is the second year in a row that the Bank has claimed first prize after winning the prestigious inaugural award [for Mauritius] in 2004. The Awards have been run at an international level since last 13 years.

Every year Euromoney surveys the leading banks in the major global markets. This year’s survey highlights SBM’s profitability and efficiency. SBM has a cost-to-income ratio of 28.43% for 2004 (excluding depreciation charges and exceptional items), which is one of the lowest in
Africa. Key performance indicators such as risk-adjusted return on capital (RAROC) and economic value added (EVA) are also noted for their marked improvement.

SBM also posted satisfactory growth in assets, advances, deposits and net profits for the half year ended December 2004.

This is the fifth time in recent history that SBM has received global recognition. In 2001, 2002 and 2004 the Bank was awarded “Bank of the Year Mauritius” by the “Banker”, a publication of the prestigious Financial Times Group from London that monitors the performance of banks around the world. In addition during 2004, SBM received the Euromoney award of “Best Bank in Mauritius”.

The Award was presented at the Euromoney Awards for Excellence gala dinner in London on July 14th 2005.