National Commercial Bank Mauritius

National Commercial Bank Limited

Former type	State owned
Industry	Financial services
Fate	Merged with Mauritius Post and Cooperative Bank
Predecessor	Bramer Banking Corporation
Successor	Mauritius Bank
Founded	9 April 2015
Defunct	4 January 2016
Headquarters	Port Louis, Mauritius
Products	List Loans Mortgages Investments Debit Cards Credit Cards
Website	www.ncbl.mu

National Commercial Bank Limited, commonly known as NCB, was a financial institution based in Mauritius with its head office is situated at 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

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of the now defunct Bramer Banking Corporation.^[2] This was after Bramer Banking Corporation's banking license was revoked by the Bank of Mauritius following a liquidity crisis at the bank.^[3][4] The transfer of bank accounts and operations of the former Bramer Banking Corporation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

National Commercial Bank was wholly owned by the Government of Mauritius.^[1]

Leadership

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

• List of banks in Mauritius
• Bank of Mauritius

References

1. Government of Mauritius (2015-04-13). "Mauritius: National Commercial Bank Fully Operational". AllAfrica.com. Retrieved 2015-04-14.
2. Vilbrin, Christina (April 8, 2015). "Mauritius Creates Bank to Take Over Bramer Amid Ponzi Probe". Bloomberg Business. Bloomberg L.P. Retrieved April 12, 2015.
3. Maglich, Jordan D. (2015-04-03). "Mauritius Halts $693 Million Ponzi Scheme At Bank". Ponzi Tracker. Retrieved 2015-04-09.
4. Vilbrin, Christina (April 3, 2015). "Mauritius Sees Ponzi Scheme ‘Evidence’ as Bramer Shares Halted". Bloomberg Business. Bloomberg L.P. Retrieved April 9, 2015.
5. Elix, Joëlle. "Lutchmeenaraidoo: "L’argent des clients de l’ex-Bramer et de la MPCB est garanti"". lexpress.mu (in French). Retrieved 2016-01-21.
6. "News Communique: Transfer of Undertaking of NCB to MPCB".
7. "Communique: Successfully merger of MPCB and NCB" (PDF). 2016. Retrieved 2016.