Cover Story: In spite of the crisis, the banking sector has remained resilient, states the CEO of HSBC and Chairperson of the Mauritius Bankers Association. For instance, as at end of March 2021, banks’ capital adequacy ratio stood at 18.7%, comfortably above the regulatory minimum 11.9%. Similarly, the quality of assets remains good with non-performing loan ratio standing at 5.0%. In the interview below, Bonnie Qiu also talks about the interconnectedness between the banking sector and global business and expresses confidence that Mauritius will soon be removed from the European union’s blacklist.
The Mauritius Bankers Association (MBA) held its Annual General Meeting on Wednesday 30 June 2021. Ms. Bonnie Qiu, Chief Executive Officer (CEO) of The HongKong & Shanghai Banking Corporation Limited was elected as Chairperson of the MBA for a one-year mandate.