FSC announces a 5.7 percent growth in financial services in Mauritius

Aug 07, 2013

The financial services sector in Mauritius grew by 5.7 percent in 2012, it was announced at the end of last week.

The financial services sector in Mauritius grew by 5.7 percent in 2012, it
was
announced at the end of last week.

According to the annual report of the Financial Services Commission (FSC) published by Xinhua news agency, it is the only sector that resists the effects of the crisis in the
eurozone
on the island.

Financial intermediation and the leasing sector
fared
the best with a 6.3 and
six
percent growth respectively.

In addition, the report shows that the FSC financial services are a steadily rising source of income for the Mauritian state - with revenues going
from 88 percent in 2011 to 89 percent in 2012 - which represents a one percent increase.

The financial sector in 2012 represented about
a
10.2 percent share of the GDP and grew by 5.5 percent, according to figures from the latest African Economic Outlook report.

The banking sector has
withstood the global downturn well and remains healthy, profitable and well capitalised even above Basel III requirements.

Mauritius’ ranking on access to credit in the World Bank Doing Business report has improved from 78 out of 183 economies in 2011 to 54 out of 185 economies in 2012.ADNFCR-2976-ID-801621837-ADNFCR