SBM Bank (Mauritius) Ltd ("the Bank") hereby informs its stakeholders that the contract of Premchand Mungar, who has held the position of Chief Executive at the Bank, has been terminated effective Tuesday 02 December 2025.
This decision follows his prior suspension and was taken after the completion of all requisite internal procedures. In accordance with established governance and disciplinary protocols, the matter was reviewed by the Disciplinary Committee, after which his contract was terminated. This process was conducted in full compliance with the Bank’s policies, regulatory requirements, and principles of fairness and due process.
The Board of Directors of SBM Bank (Mauritius) Ltd
03 December 2025
