Soon to be known as Banque Patronus Ltd

The Bank of Mauritius (BoM) granted a new banking license for this venture on February 27, 2024, marking a significant development in the financial landscape of Mauritius.

Patronus Wealth Holdings, a reputable wealth management group with operations in Dubai and Mauritius, is regulated by both the Dubai Financial Services Authority and the Mauritius Financial Services Commission. The group initially showed interest in acquiring Banyan Tree Bank, now Silver Bank, which was under the supervision of the BoM. However, they ultimately decided to pursue Habib Bank Ltd. The Pakistani institution had announced takeover talks in 2021, ensuring that its Mauritian operations would remain unchanged.

The new subsidiary, Banque Patronus Ltd, aims to serve a diverse clientele, including high net worth individuals, trustees, independent asset managers, as well as law firms and family services. This acquisition underscores Patronus Wealth Holdings’ commitment to expanding its footprint in the banking sector and catering to the needs of discerning clients in Mauritius and beyond.