Mauritius SBM Holdings Q1 profit up 27 pct on rising fee income

May 12, 2016 3:24 PM

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PORT LOUIS May 12 Mauritius' second-largest lender SBM Holdings posted a 27 percent increase in first quarter pre-tax profit on Thursday, driven by higher fee and commission income, but it said business conditions remained challenging.

Pre-tax profit in the three months to March 31 stood at 901.63 million rupees ($25.81 million). Fee and commission income rose to 291.72 million rupees from 225.34 million a year earlier, it said in a statement.

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