Africa country category winners 2023: Best bank for SMEs in Mauritius: SBM Bank
SBM Bank has undertaken several structural and strategic initiatives to enhance its offering for small and medium-sized enterprises over the last year and is Mauritius’s best bank for SMEs as a result.
The banks in each market that have excelled across a range of core banking activities over the past 12 months.
The bank has centralised its SME functions, establishing 10 dedicated SME hubs. Key credit processes have also been streamlined, and several senior-level appointments have been made to the bank’s SME team.
Besides improving proximity to SME businesses and facilitating a sustainable business pipeline, these changes have helped SBM achieve greater strategic alignment across its operations.
A key component of the bank’s SME banking strategy in the second half of 2022 was to create awareness and visibility on the market through digital and other channels.
Campaigns on TV, radio, newspaper and Metro Express were conducted nationwide.
The bank also organised three open days and opened key regional branches on selected Saturdays to the public. These efforts helped the bank generate more than 400 new SME customer leads.
The lender's initiatives correlated with a strong CSI (Customer Satisfaction Index) score of 80.99 at the end of the first quarter of 2023.