Absa | Custody services

Local custody
How does it work

Safekeeping of listed securities

Settlement of trades

Corporate actions management

Income collection

AGM and proxy voting solutions

Client reporting
Global custody
How does it work

Safekeeping of listed securities and global funds

Cross-border settlement of trades

Income collection

Cash services (FX and repatriation)

AGM and proxy voting solutions

Market information

Client reporting
Client support
How does it work

Each segment has unique requirements but the core basis for custody, i.e., safe keeping, settlements of trades and corporate events remain standard

We treat each client as our partner and strive to provide exception Customer Service by not only meeting their requirements but taking those requirements to the next level
Our customer segments
Our Custody Services are available to domestic, global business and foreign entities

Individual clients

Wealth International clients

Resident individual clients

Institutional clients

Domestic entities (CIS, Asset Managers, Insurance, Pension Funds)

Global business entities (CIS and Non-CIS)

Foreign NBFIs

Domestic and Foreign FIs

Absa Mauritius serves customers through an extensive branch and self-service terminal network, digital challenges,

financial advisors, relationship bankers as well as dealerships, originators, alliances and joint ventures.
Team contact details

Mr. Yanish Ramdenee

Head of Custody Operations & Projects
Corporate and International Banking
E: yanishmayvin.ramdenee@absa.africa
T: +230 404 1322
M: +230 5253 2924

Mr. Krishna Sithanen

Head of Cash Management & Custody Sales
Corporate and International Banking
E: Krishna.sithanen@absa.africa
T: +230 404 1315
M: +230 5500 6492

Custody Client Service Desk

Corporate and International Banking
GE: abmucibcustody@groups.absa.africa

Custody services FAQs

Our Corporate and International Banking corporate clients will benefit from our holistic suite of products and leading-edge custody related solutions for safekeeping and management of your listed securities portfolio.

What is a Custodian Bank?

A Custodian Bank is usually a licensed financial institution or a bank responsible for safeguarding clients’ portfolio of listed securities in electronic format. A Custodian may also hold client assets in certificated format also.
What is local custody?

The provision of custody services by a custodian bank in its own market.
What is global custody?

The provision of custody services in multiple markets. This will be delivered by a Global Custodian Bank through their network of agent banks or sub custodians in the different market that they offer.
What services does a Custodian Bank offer?
Safekeeping of listed securities such as equities, bonds, derivatives etc. Settlement of trades concerning client purchases and sales of securities on the market. Corporate actions information on for example cash dividends, stock splits, mergers, takeovers, bonus issues, rights issues, bond calls etc and an array of other events to clients. Collection of income such as interest income (coupons), cash dividends or any other events similar in nature on behalf of clients.

Tax reclaims as applicable to client’s foreign income

Provision of market information on exchange, securities, issuers, central depositories, clearing mechanisms etc

Maintain clients’ cash accounts and funds repatriation of sales proceeds

Provision of FX related to Custody transactions (Trade and Corporate Action)

Direct clearing in Mutual & Hedge Fund units via a state-of-the-art fund’s platform

Client Reporting

Market advocacy and lobbying

Local Custody

Global Custody
Who are the involved in the Capital Markets value chain?
Stock Exchange

Central Depository

Issuers

Registries

Brokers

Custodian

Clients
Who are our target clients?
Local and global business entities such as:

Asset Managers

Collective Investment Schemes (Mutual and Hedge Funds)

Pension Funds

Insurance Funds

Government/Sovereign Funds

Broker dealers

Wealth and Premier Clients (HNWI)
How does the Custody Services Sales and Client Relationship Model work?

Custody falls within the Transactional Banking suite of products and the sales model and client relationship works similarly across all offerings. There is a dedicated Custody client service team, which provide support to the Relationship Manager to manage the client for Custody related matters.