National Commercial Bank Mauritius
 | |
| Company type | State owned |
|---|---|
| Industry | Financial services |
| Predecessor | Bramer Banking Corporation |
| Founded | 9 April 2015 |
| Defunct | 4 January 2016 |
| Fate | Merged with Mauritius Post and Cooperative Bank |
| Successor | Mauritius Bank |
| Headquarters | , |
| Products | List
|
| Website | www |
National Commercial Bank Limited, commonly known as NCB, was a financial institution based in Mauritius with its head office situated in Port Louis.[1] It was one of the commercial banks licensed by the Bank of Mauritius, the country's central bank and the nation's banking regulator.
History[edit]
National Commercial Bank Limited was incorporated on Thursday April 9, 2015 and issued a commercial banking license by the Bank of Mauritius on Friday April 10, 2015. National Commercial Bank acquired the assets and some liabilities of the now defunct Bramer Banking Corporation.[2] This was after Bramer Banking Corporation's banking license was revoked by the Bank of Mauritius following a liquidity crisis at the bank.[3][4] The transfer of bank accounts and operations of the former Bramer Banking Corporation to NCB was held on Saturday April 11, 2015.[1]
On Monday January 4, 2016, NCB was merged into state-owned Mauritius Post and Cooperative Bank to form Mauritius Bank (MauBank).[5][6] The newly formed bank received a banking licence on the same day.[7]
Ownership[edit]
National Commercial Bank was wholly owned by the Government of Mauritius.[1]
Leadership[edit]
The directors of National Commercial Bank were:
- Mr. Said Lalloo - (Chairman), appointed on April 9, 2015.
- Mr. Pravin Cumlajee (Director), appointed on April 9, 2015.
- Mr. Youk Siane Yip Wang Wing (Director), appointed on April 6, 2015.
- Mr. Anoop Nilamber (Director), appointed on April 6, 2015.
- Mr. Ram Prakash Nowbuth (Director), appointed on April 6, 2015.
- Mr. Nayen Koomar Ballah (Director), appointed on April 6, 2015.
- Mr. Louis Mario Hennequin (Director), appointed on April 8, 2015.
- Mr. Ashraf Esmael (Director), appointed on April 9, 2015.
See also[edit]
References[edit]
- ^ a b c Government of Mauritius (13 April 2015). "Mauritius: National Commercial Bank Fully Operational". AllAfrica.com. Retrieved 14 April 2015.
- ^ Vilbrin, Christina (8 April 2015). "Mauritius Creates Bank to Take Over Bramer Amid Ponzi Probe". Bloomberg Business. Bloomberg L.P. Retrieved 12 April 2015.
- ^ Maglich, Jordan D. (3 April 2015). "Mauritius Halts $693 Million Ponzi Scheme At Bank". Ponzi Tracker. Archived from the original on 26 September 2015. Retrieved 9 April 2015.
- ^ Vilbrin, Christina (3 April 2015). "Mauritius Sees Ponzi Scheme 'Evidence' as Bramer Shares Halted". Bloomberg Business. Bloomberg L.P. Retrieved 9 April 2015.
- ^ Elix, Joëlle. "Lutchmeenaraidoo: "L'argent des clients de l'ex-Bramer et de la MPCB est garanti"". lexpress.mu (in French). Retrieved 21 January 2016.
- ^ "News Communique: Transfer of Undertaking of NCB to MPCB".
- ^ "Communique: Successfully merger of MPCB and NCB" (PDF). 5 January 2016. Archived from the original (PDF) on 29 January 2016.
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