Financial statements

We have audited the consolidated and separate financial statements of AfrAsia Bank Limited (the"Bank" and the"Public Interest Entity") and its subsidiaries (the "Group") set out on pages 6 to 120, which comprise the consolidated and separate statements of financial position as at 30 June 2019, and the consolidated and separate statements of profit or loss and other comprehensive income, consolidated and separate statements of changes in equity and consolidated and separate statements of cash flows for the year then ended, and notes to the financial statements, including a summary of significant accounting policies,
In our opinion, the accompanying consolidated and separate financial statements give a true and fair view of the financial position of the Group and the Bank as at 30 lune 2019, and of their consolidated and separate financial performance and consolidated and separate cash flows for the year then ended in accordance with International Financial Reporting Standards (iFRSs), and comply with the requirements of the Mauritius Companies Act 2001, the Financial Reporting Act 2004 and the Banking Act 2004.

We conducted our audit in accordance with International Standards on Auditing (ISAs). Our responsibilities under those standards are fufther described in the Auditor's Responsibilities for the Audit of the Consolidated and Separate Financial Statementssectionofourreport. Weare independent of the Group and the Bank in accordance with the lnternational Ethics Standards Boards for Accountants Code of Ethics for Professional Accountants (IESBA code) and we have fulfilled our other ethical responsibilities in accordance with IESBA Code, We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.