confidence - Investing In Africa

Management Discussions & AnalysisOperation Review (cont’d)Operations ManagementOperations Management plays a key role in enabling the organization toachieve its business objectives by implementing effective systems andprocesses. Tight internal control ensures quality of transaction processing andintegrity of the data. The Operational Risk Management Framework permitsthe timely identification, assessment, monitoring and mitigation ofoperational risks.Specific performance objectives including the number of error free transactions,timeliness of operations and customer request resolution rate are clearly speltout, ensuring that the Operations Management team add value by providingquality and timely operational services to its stakeholders.• SubsidiariesSBM Lease LtdSBM Lease Limited is a wholly owned subsidiary of State Bank of Mauritius Ltd,providing lease facilities for all types of movable assets to both the corporateand retail sectors of the Mauritian economy. It holds a deposit taking licenceissued by the Central Bank.In June 2004 the Company successfully implemented Finnone, a leasingsolution from Nucleus Software. The solution has been interfaced with SBM’score banking systems.“Customer conducting business in a highlyconducive environment at SBM’s newlyrefurbished Curepipe Service Centre”The company benefits from the support of the various specialized units withinthe SBM Group such as Credit Underwriting, Credit Services, Risk Managementand Finance.95SBM Lease achieved a profit of Rs61.2M in 2005, up by 51.5% from Rs40.4M in2004. The growth was mostly driven by better liability management.