Mauritius's SBM reports Q1 profit down 7.9 pct

PORT LOUIS, Nov 12 (Reuters) - State Bank of Mauritius SBML.MZ, the Indian Ocean island's second biggest bank, posted a 7.9 percent fall in its first-quarter net profit on Thursday.

SBM, which has about a 25 percent market share, recorded a net profit of 502.7 million rupees ($16.90 million) for the first three months of its current financial year, down from 542.7 million rupees during the same period last year.

"This is mainly due to non-recurring dividend income received in 2008 and also to a special levy on banks," it said in a statement.

"Even if the figures as at end of Sept. 2009 are lower compared to the previous quarter, customer deposits and gross advances to customers went up an average of 9 percent and 6 percent respectively compared to June 2009."

The banking group is engaged in retail and corporate banking, currency and securities trading, e-Business, leasing and asset management. ($1=29.75 Mauritius rupees) (Reporting by Jean Paul Arouff; Editing by Greg Mahlich)