Silver Bank Limited, following the placement thereof under conservatorship in February 2024 and in receivers…
(No. B/243) Ms J. Bérenger (First Member for Vacoas & Floreal) asked the Prime Minister, Minister of Defence, Home Affairs and External Communications, Minister of Finance, Minister for Rodrigues and Outer Islands whether, in regard to Silver Bank Limited, following the placement thereof under conservatorship in February 2024 and in receivership on 30 March 2026, respectively, he will, for the benefit of the House, obtain from the Bank of Mauritius, information as to the total amount of – (a) non-performing or toxic loans identified at the time of conservatorship, indicating the amount thereof recovered during the said period from local and foreign customers, respectively, and (b) deposits held therewith by public bodies/institutions as at the date of the receivership, giving a breakdown thereof.
Reply: With regard to part (a) of the question, I am informed by the Bank of Mauritius that in the first report of the Conservator submitted in March 2024, non-performing loans were estimated at approximately Rs8.1 billion out of a total loan portfolio of Rs8.3 billion. As regards the amount recovered, as at date, only a relatively small amount of around Rs209 million has been recovered since the placement of the bank under conservatorship, of which, Rs47 million from a non-resident customer and Rs162 million from resident borrowers. Concerning part (b) of the question, the deposits held by public bodies and institutions at Silver Bank Limited as at 28 February 2026 amounted to around Rs907 million as follows – (a) Rs523 million by the COVID-19 Projects Development Fund; (b) Rs158 million by the National Insurance Co. Ltd; (c) Rs132 million by the NIC General Insurance Co. Ltd; (d) Rs58 million by the Municipal Council of Curepipe, and (e) Rs36 million by the Sugar Insurance Fund Board. PROPOSED ELECTORAL REFORMS – PUBLIC CONSULTATION EXERCISE – PROPOSALS