Mauritius: An official ceremony was organised yesterday at the Port Louis Waterfront in the presence of the Prime Minister, Pravind Kumar Jugnauth, to celebrate the 50th Anniversary of the SBM Bank (Mauritius) Ltd.
The Group Chief Executive Officer of SBM Holdings Ltd, Raoul Gufflet; the Spouse of the Prime Minister, Kobita Jugnauth; and other eminent personalities were also present on this occasion.
In his address, Prime Minister Jugnauth highlighted that SBM bank’s success is not an isolated achievement but a reflection of the strength and integrity of the Mauritian banking sector as a whole.
Over the past five decades, he outlined, the SBM bank has been at the forefront of widening access to banking services for a larger segment of the population, particularly in rural areas where it embraced the vision of financial inclusion, in addition to ensuring that the benefits of banking reach every citizen, regardless of geographical location or socio-economic status.
The Prime Minister underlined that, in addition to its financial stability, the Mauritian banking sector has shown exceptional adaptability and innovation. He observed that the SBM bank has been a pioneer in embracing technological achievements and that its cutting-edge digital banking services have not only limited transactions more efficiently but have also positioned Mauritius as a FinTech hub in the region.
Furthermore, Prime Minister Jugnauth observed that the 50-year journey of the SBM bank is a story of resilience, innovation, and unwavering commitment to our nation. According to him, its story is one of how a financial institution can become a true partner in a country’s progress and development.
For his part, Gufflet underscored that the SBM bank will remain committed to community development as it embraces the future with optimism and determination. He also emphasised that the SBM bank looks forward to the next phase of its journey while trying to impact the Mauritian community positively.
It is recalled that the Government of Mauritius established the State Bank of Mauritius in 1973 under the name State Commercial Bank. In 1994, SBM opened its first overseas branch in Mumbai, India, before being listed on the Stock Exchange of Mauritius in 1995.