SBM Bank (Mauritius) Ltd., the Indian Ocean nation's second-biggest lender, is set to appoint Rajiv Servansingh as chairman of the board, the Week-End newspaper reported, without saying where it got the information.
The nomination follows the resignation of Mohit Dhoorundhur due to health reasons, the Port Louis-based newspaper said. Servansingh, who has held similar positions at public companies, declined to comment when contacted by phone on Sunday.
His LinkedIn page currently shows him as chairman of MindAfrica Group, which provides advisory services.
SBM Bank, a unit of SBM Holdings Ltd., has also proceeded with changes at management level. After Chief Executive Officer Parvataneni Venkateshwara Rao resigned effective Jan. 1, the lender named Jorge Stock, current chief operating officer, as officer in charge.
For the quarter through September, SBM Holdings said attributable profit fell 42% to 150.3 million rupees ($3.75 million) from a year ago on impairment charges.
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