Mauritius bank SBM Holdings Q2 profit up on lower impairment loss

August 11, 2016 3:24 PM

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PORT LOUIS Aug 11 Mauritius bank SBM Holdings said its pretax profit rose to 1.07 billion Mauritius rupees ($30.49 million) in the three months to June 30 from 108 million rupees a year earlier, helped by a lower net impairment loss on its financial assets.

In the second quarter the impairment loss stood at 22.31 million rupees, compared with a loss of 834.86 million rupees in the same period a year ago. The bank described last year's loss as exceptional.

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