MauBank

MauBank is a commercial bank headquartered in Ebene CyberCity, Mauritius, and licensed by the Bank of Mauritius, the country's central bank and banking regulator. It provides banking and related financial services to individuals, affluent clients, small and medium-sized enterprises, corporations, public-sector bodies and financial institutions. Its activities span retail and private banking, corporate banking, international banking, wealth management, insurance services, SME banking and leasing. The present bank emerged from the restructuring of Mauritius's publicly backed banking sector. In January 2016, the Mauritius Post and Cooperative Bank acquired the assets and liabilities of National Commercial Bank, formerly Bramer Banking Corporation. The acquiring institution subsequently adopted the MauBank name. The predecessor Mauritius Post and Cooperative Bank had itself been established in August 2003 through the merger of New Co-operative Bank and the Post Office Savings Bank. MauBank therefore combines a relatively recent brand identity with institutional roots in Mauritius's cooperative and postal savings systems. MauBank is wholly owned by the Government of Mauritius through MauBank Holdings Ltd. The ownership structure reflects the bank's public-policy role as well as its commercial activities. The institution has positioned itself as a domestic full-service bank supporting households, entrepreneurs and companies, while also maintaining capabilities for international clients, wealth management and institutional business. In 2019, the Mauritian government announced that it intended to seek a strategic partner to help expand the bank's activities; the available reference material does not establish that such a transaction was completed. The bank operates a network of 19 branches, including a branch on Rodrigues, and provides basic banking services through 102 post offices operated by Mauritius Post Ltd. This distribution model gives MauBank a presence beyond conventional branches and connects its services with the country's postal network. Its offering includes deposit accounts, payments, lending, cards, leasing, insurance-related services, investment and wealth-management products, and digital banking tools. Digital transformation is a notable part of MauBank's operating model. The bank has adopted paperless account opening, electronic statements, online financial calculators, automated processes in areas such as credit scoring and loan processing, transaction alerts by SMS, contactless card payments and internet banking. It also offers MyLease, described in the reference material as Mauritius's first online lending facility. MauBank WithMe, its mobile-banking application, supports account monitoring, transfers, cardless cash withdrawal, mobile recharges, recurring payments, card management and digital account opening. The application uses document-recognition technology for identity and address documentation and supports biometric authentication and video contact with bank officers. In 2018, MauBank became the first bank in Mauritius to onboard customers through a mobile application, according to the referenced material. In 2019, its digital work received an Application Programming Interface Led Innovations award at the Infosys Finacle Client Innovation Awards, where it was also a finalist in the Emerging Technology Led Innovations category. These initiatives support the bank's stated green and digitization agenda while complementing its physical branch and post-office network.

MauBank's institutional history is linked to Mauritius's postal savings and cooperative banking systems. In August 2003, the Government of Mauritius established Mauritius Post and Cooperative Bank Ltd through the merger of New Co-operative Bank Ltd and the Post Office Savings Bank. The resulting institution combined cooperative banking activities with the reach of the postal savings network. A major restructuring occurred on 4 January 2016, when Mauritius Post and Cooperative Bank acquired the assets and liabilities of National Commercial Bank, which had previously operated as Bramer Banking Corporation. Following the acquisition, the institution changed its name to MauBank Ltd. The rebranding marked the creation of the MauBank identity while preserving the public-sector ownership and distribution infrastructure associated with its predecessor. As reported for 30 June 2016, the bank's share capital was recorded at approximately Rs 3.27 billion, represented by more than 3.4 billion ordinary shares. MauBank Holdings Ltd held 99.93% of the bank, while the balance was held by 11 other shareholders, including public-sector bodies and cooperative societies. MauBank Holdings Ltd is wholly owned by the Government of Mauritius, making MauBank a state-owned commercial bank rather than a publicly traded institution. The bank is headquartered in Ebene CyberCity and is licensed as a commercial bank by the Bank of Mauritius. Its business model covers retail and private banking, corporate banking, international banking, wealth management, insurance services, SME banking and leasing. It serves individuals, wealthy clients, companies, public institutions and financial institutions. Its physical network includes 19 branches, one of which is located on Rodrigues Island, together with basic banking services delivered through 102 Mauritius Post offices. MauBank has also developed a digital-services agenda. Its tools include paperless account opening, electronic statements, online calculators, automated credit and loan-processing workflows, SMS transaction notifications, contactless cards and internet banking. MyLease provides an online lending channel. The MauBank WithMe mobile application allows users to check balances and transactions, transfer funds, manage cards, recharge mobile phones, arrange recurring payments, open accounts and withdraw cash without a physical card. The application supports biometric authentication and uses optical character recognition to process identity and address documents. The bank updated WithMe in September 2018 and became the first bank in Mauritius to onboard customers through a mobile application. Its digital initiatives were subsequently recognized at the 2019 Infosys Finacle Client Innovation Awards. In the same broad period, the Mauritian government stated that it wanted to identify a strategic partner to help expand MauBank's operations. No confirmed completion of such a transaction is established by the supplied material. The available references do not provide a later ownership change, a completed privatization, or a confirmed change in the bank's operating status.

• 2019

  Digital banking innovation recognized

  [1]MauBanken.wikipedia.org

  MauBank wins the API Led Innovations award at the Infosys Finacle Client Innovation Awards and becomes a finalist for Emerging Technology Led Innovations.

• 2019

  Government explores strategic partnership

  [1]MauBanken.wikipedia.org

  The Government of Mauritius announces an intention to seek a strategic partner to expand MauBank's activities.

• 2018

  Mobile account onboarding introduced

  [1]MauBanken.wikipedia.org

  MauBank becomes the first bank in Mauritius to onboard customers through a mobile application.

• 2018

  Updated MauBank WithMe application released

  [1]MauBanken.wikipedia.org

  An updated version of the WithMe mobile banking application is launched on 27 September, adding or supporting account management, transfers, cardless withdrawals, mobile recharges, digital account opening and biometric authentication.

• 2016

  National Commercial Bank acquisition and MauBank rebranding

  [1]MauBanken.wikipedia.org

  Mauritius Post and Cooperative Bank acquires National Commercial Bank's assets and liabilities and subsequently adopts the MauBank name.

• 2003

  Mauritius Post and Cooperative Bank is established

  [1]MauBanken.wikipedia.org

  The Government of Mauritius establishes Mauritius Post and Cooperative Bank through the merger of New Co-operative Bank and the Post Office Savings Bank.

A Mauritian full-service commercial bank with public ownership, broad retail and business coverage, a nationwide branch and post-office distribution model, and an emphasis on digital banking.

• Retail banking

  Retail and Private Banking

  MauBank's retail and private-banking business serves individual customers and affluent clients. The offering covers everyday accounts, deposits, payments, cards, personal borrowing and related financial services. Private-banking and wealth-oriented services extend the relationship beyond basic transactional banking.

• Business banking

  Corporate and SME Banking

  The corporate and SME businesses provide banking and financing services to companies and entrepreneurs. The broader commercial offering includes accounts, credit facilities, payment services and other financial support for operating businesses, with MauBank presenting itself as a bank for both established companies and smaller enterprises.

• International banking

  International Banking

  International Banking is one of MauBank's stated business lines. It supports the bank's service range for international clients and cross-border financial activity, although the supplied references do not provide a detailed product catalogue or geographic breakdown for this unit.

• Wealth management

  Wealth Management

  MauBank offers wealth-management services within its full-service banking model. These services are directed toward wealthy individuals and may include investment-oriented and advisory products, but the available source material does not specify individual funds, securities or named mandates.

• Lending and leasing

  Leasing and MyLease

  Leasing is a dedicated MauBank business line. MyLease is the bank's online lending facility and was described in the reference material as the first online lending service offered by a bank in Mauritius. It gives customers a digital channel for initiating lending-related activity.

• Mobile banking · 2018

  MauBank WithMe

  WithMe is MauBank's mobile banking application for smartphones, tablets and computers. It supports balance and transaction review, statements, transfers, beneficiary management, cardless cash withdrawals, mobile-phone recharges, recurring payments, credit-card management, digital account opening, card controls and biometric authentication. The application also uses OCR for identity and address documents and supports video calls with bank officers.

• 2019

  Seek a strategic partner for expansionStrategy

  Background

  The Government of Mauritius, MauBank's owner, stated that the bank needed a strategic partner to help expand its activities.

  Action taken

  The government announced its intention to find such a partner.

  Aftermath

  The supplied references do not establish that a strategic partnership or ownership transaction was completed.

  Source

• 2018

  Introduce mobile customer onboarding through MauBank WithMeProduct launch

  Background

  MauBank pursued paperless processes and digital banking as part of its green and digitization agenda.

  Action taken

  The bank enabled customers to onboard through its mobile application, using OCR-supported document capture and digital interaction with bank staff.

  Aftermath

  MauBank became the first bank in Mauritius reported to offer mobile-app customer onboarding.

  Source

• 2016

  Acquire National Commercial Bank and rename the institutionM&A

  Background

  The Mauritius Post and Cooperative Bank expanded its banking platform through the acquisition of National Commercial Bank's assets and liabilities.

  Action taken

  The acquisition was completed on 4 January 2016, after which the bank changed its name to MauBank Ltd.

  Aftermath

  The transaction created the MauBank brand and broadened its position as a publicly owned Mauritian commercial bank.

  Source

1. 1MauBanken.wikipedia.org
2. 2MauBank official websitemaubank.mu