SBI (Mauritius) posts net profits of $5.7million

SBI (Mauritius) has recorded a net profit of $ 5.7 million for fiscal year 2020-21 compared to $ 1.32 million the previous year.

The figures were discussed at 31st Annual General Meeting of Shareholders of SBI (Mauritius) Ltd (SBIML) on September 24. The meeting was chaired by Dhiren Ponnusamy, independent director.

In his address to shareholders, Sudhir Sharma was quoted as saying that the COVID crisis has had a negative impact on trade, cross-border travel, international production and supply networks. “Despite the fact that COVID-19 is causing immense disruption to the global economy, the year under review has been encouraging for the SBIML,” he said.

For the year 2020-2021, a dividend of 10% per share was paid to shareholders. The loan portfolio increased by 5.10% to stand at $ 491.20 million as at March 31, 2021 compared to $ 467.35 million as at March 31, 2020. The investment portfolio rose by 4.07% to stand at $260.17 million as of March 31, 2021 against $249.99 as of March 31, 2020.