MauBank is expected to become the second national bank of the country, says Minister of Finance, Vishnu Lutchmeenaraidoo.
Product of merging the Mauritius Post and Co-operative Bank (MPCB) and the National Commercial Bank, MauBank became operational this week on December 4. It is planned to grow into the second national bank of the island in three years’ time.
The bank now counts 750 employees who are all called to work as one team to attain the set goal. Minister Vishnu Lutchmee¬naraidoo has urged them to work together, reports DefiMedia.info.
Its prioritised operations will entail projects pertaining to agriculture, information technology, and research.
As for the Rs 1.7 billion-worth loans of the MPCB, formal instructions have been given out to all those who owe its money – the debts have not been written off.