we value each other's talents and contributions

together in - English*


we are the architects of our success.

together in - Malagasy*


we achieve prosperity through collective efforts.

together in - Mauritian*


we help build each other's future

together in - Swahili*


corporate profile

Bank One is jointly owned by the CIEL and I&M Groups. CIEL is one of the largest diversified conglomerates in Mauritius, employing some 35,000 people with businesses in over 10 Sub Saharan African countries serving the financial services sector, sugar and healthcare. I&M is a Kenyan listed financial services group with Banks in Kenya, Uganda, Tanzania, Rwanda and Mauritius. Together the CIEL and I&M groups have a long history and a major presence in the region with unrivalled market access and knowledge.

With the significant demographic changes underway in Sub Saharan Africa and the customer needs that are emerging, Bank One’s strategy is to leverage its shareholder strength in the region to provide solutions to both Mauritian and Sub Saharan African businesses looking to grow.

Bank One is an integrated member of the CIEL and I&M groups and through its team of 425 high calibre staff from 10 different nationalities, is well positioned to support the growth ambitions of businesses in Mauritius and in Sub Saharan Africa. Key financial services offered are; loans, deposits, transaction banking, trade, foreign currency, structuring and advisory capabilities, private banking, cross border personal banking, custody and security services.


Ms. Sandra Martyres Appointed as Independent Chairperson on 07.09.2017
Ceased to be a Director on 31.12.2021
Ms. Roselyne Renel Appointed as Independent Director on 24.05.2021 and
Appointed as Independent Chairperson of the Board on 01.01.2022
Mr. Mark R. P. Watkinson Executive Director
Mr. Lakshman Bheenick Appointed as Non-Executive Director on 01.06.2021
Mr. Jerome De Chasteauneuf Appointed as Non-Executive Director on 25.08.2021
Mr. Gauri A. Gupta Non-Executive Director
Mr. Chris A.M Low Appointed as Non-Executive Director on 24.05.2021
Mr. Leonard C. Mususa Independent Director
Mr. Ignasi Serrahima Arbestain Independent Director
Mr. Nikhil Treebhoohun Independent Director
Mr. Paul E. Leech Non-Executive Director; Ceased to be a director on 25.08.2021
Mr. L.A Sivaramakrishnan Non-Executive Director; Ceased to be a director on 24.05.2021
Mr. Marc-Emmanuel Vives Non-Executive Director; Ceased to be a director on 01.06.2021


conduct review and audit committee
Ms. Sandra Martyres
Mr. Leonard C. Mususa (Chairperson)
Mr. Nikhil Treebhoohun
board risk management committee
Ms. Sandra Martyres
Ms. Roselyne Renel
Mr. Mark R. P. Watkinson
Mr. Lakshman Bheenick (Chairperson)
Mr. Chris A.M Low
Mr. Leonard C. Mususa (Chairperson)
board credit committee
Ms. Roselyne Renel
Mr. Lakshman Bheenick (Chairperson)
Mr. Gauri A. Gupta (Chairperson)
governance, nomination & remuneration committee
Ms. Sandra Martyres
Mr. Lakshman Bheenick (Chairperson)
Mr. Gauri A. Gupta (Chairperson)
Mr. Ignasi Serrahima Arbestain
Mr. Nikhil Treebhoohun
board strategy & investment committee
Ms. Sandra Martyres
Mr. Mark R. P. Watkinson
Mr. Lakshman Bheenick (Chairperson)
Mr. Chris A.M Low
Mr. Ignasi Serrahima Arbestain


Chief Executive Officer & Executive Director: Mr. Mark R. P. Watkinson
Chief Operations Officer: Mr. Eric Hautefeuille
Chief Financial Officer: Mr. Ranjeevesingh (ranjeeve) Gowreesunkur
Chief Risk Officer: Mr. Stephen Vlok
Head of International Banking: Mr. Carl Stephen Chirwa
Head of Corporate Banking: Mr. Fareed Soobadar
Head of Private Banking & Wealth Management: Mr. Guillaume Passebecq
Head of Personal Financial Services: Mr. Bhavya Shah
Head of Treasury: Mr. Rishyraj (Rishy) Lutchman
Head of Regulatory Affairs: Mr. John Alfred (Kenny) Morton
Head of Legal: Ms. Valerie Duval
Head of Human Resources: Ms. Priscilla Mutty

corporate governance report

governance framework and accountabilities

The Board of Directors sets the strategic direction of the Bank. It is also responsible for leading, directing and supervising the management of the business and the affairs of the Bank in an ethical and responsible manner. In doing so, it is guided by its constitution and the shareholders’ agreement, and for ensuring all legal and regulatory requirements are met. Some of the responsibilities are discharged directly, while others are discharged through board committees for a more in-depth focus on specific areas. The day-to-day management and operations of the Bank’s business have been delegated to the Chief Executive Officer, who is responsible for establishing a management structure that promotes accountability and transparency throughout the Bank, for the effective implementation of business strategies, risk management systems, risk culture, processes and controls.

governance framework and accountabilities

relationship with shareholders and other key stakeholders

Each shareholder has two representatives sitting on the Board of the Bank.The Bank also engages with the shareholders on a regular basis to keep them apprised on the affairs of the Bank and progress against the set KPIs. Given the shareholding structure and close and frequent communication with the two shareholder groups, written resolutions of the shareholders are passed in lieu of holding an Annual General Meeting.
Communication is usually around the Bank’s financial performance and compliance with the terms and conditions set out by the financial partners which the Bank’s strives to comply to at all times.
The Bank, by nature of its activities, is a highly regulated entity. Bank One Limited strives to comply with all regulatory provisions and guidelines in the conduct of its activities.
The Bank builds and maintains close relationships with this stakeholder group through ongoing and consistent communication to ensure credible and effective relations are maintained, ensuring a connected approach which boosts trust and commitment.
Townhalls were organized for information sharing. Work from home and flexible working arrangements are now well established in the Bank One culture. A CultureTransformation initiative is currently in progress.
In addition to regular customer satisfaction surveys, each line of business regularly holds forums with their clients, whether in the form of investors’ circles, breakfast meetings, etc.
The Bank engages with third party suppliers to support its business offerings and operations by leveraging on skills and expertise not available internally.Third party risks are managed by the procurement and supplier risk management policy which sets forth the principles and governance structure on which the Bank operates on.
The Bank’s main CSR program was to support the under privileged Community of Jean Blaise at Pointe-aux-Sables. Support was offered to the Jean Blaise Learning Centre which is an after-school learning Centre for some 60 children aged 6-12 years old requiring constant support in their academic journey.
The Bank continues to establish and nurture a strong relationship with the local media whilst developing good media relations in Sub-Saharan Africa (SSA) for its future strategic plans. It also leverages on CIEL and I&M Group Communications support and their partner networks as and when required.

shareholding structure and shareholders

Bank One Limited’s share capital stood at MUR 1,456,456,000, represented by 14,564,560 ordinary shares of no par value, held equally between CIEL Finance Limited and I&M Group PLC.The shareholding structure is illustrated below:

Shareholidng structure schema
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