Mauritius | Finances

June 20, 2013

Restructuring Considered in DBM

Since the end of last week, meetings are linked to the Development Bank of Mauritius Ltd (DBM). Discussions with consultants Deloitte, the Ministry of Finance and the 'Steering Committee', focuses on the restructuring of the bank.

"We're tweaking the 'restructuring plan. Already, what we see right now is that there is a surplus of staff in the DBM. A solution must be found as soon as possible. One feasible option is on redeployment. But there is always the option of voluntary retirement for employees who are 55 years or older ", says a source close to the case.

Our interlocutor added that if the DBM is immersed in debt is due to loans to small entrepreneurs. "We pay our debt regularly, but every time we need to find new funding as it takes finance SMEs. There is also the fact that many borrowers are unable to meet their obligations to the bank. In this case, we have no choice but to remove these debts, which represents a significant financial burden, "he says.

Given the situation in which the bank is the first management decision was to seek a strategic partner. But any final decision should take into consideration that the DBM has several branches across the country and employs over a hundred people. "We must still wait for government approval and the final report of the consultants," says Le Matinal interlocutor, who believes that any decision will be good for the DBM

 

Text by Le Matinal
 

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