1. Could you introduce Banque Patronus and explain the strategic vision behind launching a new bank in Mauritius, particularly as a subsidiary of Dubai-based Patronus Wealth Holdings Ltd.?
Rom Atapattu: Patronus Wealth, headquartered in Dubai, has maintained a mirror entity in Mauritius for nearly nine years, focusing on wealth management, broker-dealer services, and custody for private clients. With over 55 years of combined experience in private client and family office services, rooted in Swiss private banking heritage and major global institutions, Nikhilesh and I founded Patronus Wealth in 2017 to address a market gap for truly customised solutions. We soon realised that delivering our envisioned level of service required a full-fledged banking licence.
Nikhilesh Pawar: Dubai’s rapid rise as a hub for family offices, especially in the DIFC, provided ideal momentum for our launch. After eight years in Mauritius, it became evident that our client families required more than wealth management, they needed robust commercial and corporate banking services. When an existing bank in Mauritius exited the market, we seized the opportunity, successfully bidding for its licence in a rigorous three-year process. This led to the creation of Banque Patronus as a comprehensive commercial banking hub, complementing our private banking offerings.
2. Banque Patronus officially took over operations from Habib Bank after securing its licence from the Bank of Mauritius. What motivated this acquisition, and how does it accelerate your entry into the Mauritian banking ecosystem?
Rom Atapattu: Mauritius boasts a mature and sophisticated banking sector. Our goal was never to capture large local market share; our primary clientele is international—Europeans, UK nationals, and increasingly individuals relocating due to evolving tax regimes. Much of this wealth has traditionally been managed in Switzerland, Singapore, or now Dubai. Mauritius has matured into a comparable financial centre with strong regulation. By securing the licence and partnering with institutions like Bank of New York Mellon and Euroclear, we can now deliver a full suite of private and commercial banking services on par with those in Switzerland, London, or Singapore.
3. You describe Banque Patronus as a new-generation institution blending financial excellence with a human-centric approach. What does this philosophy mean in practice, and how does it differentiate you from traditional banks in Mauritius?
Nikhilesh Pawar: Our core priority is an exceptional client experience. Modern banking has become overly complex, simple account opening can feel burdensome. We aim to demystify and simplify the entire process: seamless onboarding, straightforward procedures, and direct, efficient interactions with dedicated bank officers.
Rom Atapattu: Clients often dread banking due to endless forms, repetitive explanations, and time-consuming processes. We focus on making it pleasant, practical, and respectful of their time, asking the right questions, providing clear and prompt answers, and prioritising efficiency.
4. Banque Patronus offers cash management, credit, securities execution, and integrated wealth management solutions. Which client segments are you prioritising, and how do you keep these services tailored yet scalable?
Rom Atapattu: We target high-net-worth individuals, family offices, the affluent, and mass-affluent segments, not retail or purely transactional clients. Our clients seek to manage and protect their assets, with funds held securely off-balance-sheet through partners like Bank of New York Mellon and Euroclear for institutional-grade protection and country-risk mitigation. While we provide transactional banking, it is reserved for those with meaningful custody or asset-management relationships. We do not offer personal loans, mortgages, or vehicle financing. Our model suits wealthy clients with multi-jurisdictional structures who value efficient, low-friction operations.
5. Patronus Wealth Privé has been active in Mauritius for eight years. How does its experience strengthen Banque Patronus’ banking model?
Nikhilesh Pawar: Our team at Patronus Wealth is specialised in private-client needs, distinct from retail banking. Privé clients enjoy discretionary management, advisory services, and fully bespoke solutions. We structure our offerings across three tiers, Patronus Prime (mass affluent), Patronus Prestige (affluent), and Patronus Privé (high-net-worth), ensuring tailored access based on each client’s sophistication and requirements.
6. How have your global insights influenced the bank’s operating model, governance structure, and risk-management approach?
Rom Atapattu: While many institutions claim a risk-based approach, they often default to rigid, tick-box processes. We reject this. Our risk assessment boils down to four essential questions: Who are you? How did you earn your wealth? Where do you currently bank, and why are you approaching us? What do you intend to do with us? A deep understanding of these elements provides a comprehensive view of the client’s risk profile, enabling appropriate, non-siloed service.
7. Mauritius is strengthening its position as an international financial centre. How do you see Banque Patronus contributing to these ambitions in terms of innovation, transparency, and customer-centric solutions?
Rom Atapattu: With the right tailored offerings, Mauritius can attract substantial global wealth, similar to Switzerland, Luxembourg, Liechtenstein, Singapore, or the Channel Islands, where clients prize sophisticated, high-touch service regardless of residence.
Nikhilesh Pawar: Mauritius benefits from strong double-taxation treaties, strategic geography, and Africa’s rising wealth creation. Many affluent Africans already regard it as their financial hub. As global family offices shift toward Dubai, Mauritius can serve as a complementary jurisdiction. Drawing on our international experience, we aim to raise standards across the island through simplicity, superior service, and world-class private-banking capabilities.
8. Banque Patronus benefits from the backing of the LOLC Group. How does this ecosystem strengthen your ability to serve HNWIs, family offices, and institutional clients across borders?
Rom Atapattu: LOLC specialises in microfinance with 13 licences across Africa, plus operations in Central Asia, Southeast Asia, and Latin America. Their extensive regulatory footprint provides market intelligence and organic connections. While not a direct client pipeline, their network enhances our understanding of emerging markets. Their complementary strengths in agriculture, leisure, and financial services support our global expansion.
9. With headquarters in the UAE and strong ties to the Gulf, what opportunities do you see for deeper collaboration between Mauritius and the UAE? Are you exploring partnerships with Gulf investors, family offices, or fintech firms?
Rom Atapattu: There is considerable potential, especially as significant African wealth concentrates in Mauritius (notably in Black River). Residents seek genuine private-banking services beyond basic deposits, equivalent to Switzerland or Singapore in execution, reporting, investment access, and advisory. We aim to deliver that sophistication while forging bridges with Gulf family offices and investors.
10. Finally, what message would you like to share with Khaleej Times readers about Banque Patronus’ long-term commitment to Mauritius and its ambition to redefine modern banking?
Rom Atapattu: We are committed to demystifying banking, making it accessible, intuitive, and efficient. Technology, including AI, will enhance decision-making and service delivery. Yet private banking remains profoundly personal: clients desire a “family banker” akin to a trusted family doctor or lawyer. Our vision merges cutting-edge technology with authentic human connection, delivering a unique blend of modern efficiency and timeless private-banking values to clients in Mauritius and beyond.
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