MauBank: CEO Vishuene Vydelingum Dismissed with Immediate Effect

The Chief Executive Officer (CEO) of MauBank, Vishuene Vydelingum, has been dismissed effective immediately. His contract was originally set to expire in November.

On Wednesday, April 29, the board of directors of MauBank Ltd terminated the contract of its CEO, Vishuene Vydelingum, with immediate effect. No official reason has been given at this stage to explain this decision.

Having led the banking institution since November 22, 2023, Vishuene Vydelingum previously held the position of Deputy Chief Executive Officer. He succeeded Premchand Mungar in leading the bank.

Following this decision, the Deputy CEO, Issa Soormally, has stepped in as acting CEO to take charge of the institution.

MauBank Ltd is a commercial bank predominantly owned by the state, headquartered in Ébène. Established in 2016 following the merger of Mauritius Post and Cooperative Bank and National Commercial Bank, it is now one of the leading banks in the country.