The Finance cluster consists of Cim Finance Ltd, Cim Financial Services Ltd, Cim Forex Ltd, and the newly acquired subsidiary Mauritian Eagle Leasing Company Limited, with each business being separately licensed and regulated. Cim Finance Ltd is the largest of the businesses and is regulated both by the Bank of Mauritius and the Financial Services Commission. Cim Finance Ltd plays an important role in the Mauritian economy with the focus of Cim Finance Ltd being very much “mass market” retail and SME financing.
The Finance cluster recorded impressive growth during financial year 2019 (FY19). Net operating income increased by MUR 316m (+22%) from MUR 1.4bn in FY18 to MUR 1.7bn in FY19, with profit after tax increasing by MUR 53m (+14%) from MUR 379m to MUR 32m.