The balance sheet of banks showed growth in the first half of 2023. The total assets of the banking sector reached a record high of Rs 2.3 billion in June 2023, after growing at an annual rate of 9.4%.
These figures are contained in the second edition of the financial stability report for 2023 published on May 23 by the Bank of Mauritius.
The report indicates that these loans and advances remained the main components of the banking sector's assets. These increased at an annual rate of 11.8% to reach Rs 1.1 billion at the end of June 2023.
The assets of the banking sector were financed mainly by deposits. Total deposits (in rupees and foreign currencies) stood at Rs 1.7 billion, following an increase of 7.3% per year.
Furthermore, the banking sector's balance sheet growth was mainly driven by assets denominated in non-resident foreign currencies (FCY).
The value reached Rs 1.2 billion at the end of June 2023, compared to Rs 1.1 billion at the end of December 2022.
