Brief History

It all started in 1838...

A group of traders, lead by James Blyth, see the need for a second bank in Mauritius. They establish 'La Banque Commerciale de Maurice' which starts business on 1st September 1838 in premises situated at the Rue de Paris (now Sir Seewoosagur Street) in the capital, Port Louis. In 1839, Queen Victoria grants a Royal Charter to the newly established bank for a period of twenty years under the name of the 'The Mauritius Commercial Bank' (MCB). The charter is renewed every twenty years until 18th August 1955 when the Bank becomes a limited liability company. Five years later, it moves to the current location of its headquarters at Sir William Newton Street (at the time, Rue de l'Eglise).

The early years

The first hundred years are rough and the bank encounters serious financial difficulties on several occasions. In spite of various national financial crises, fierce competition over the years from ten other commercial banks, two world wars and natural catastrophes, the MCB succeeds in expanding its activities, trebles its capital and opens its first branch in Curepipe in 1920.

Building a network

Curepipe is the first step in the weaving of a nationwide network. the MCB becomes the first bank to set up branches in rural locations: Mahébourg in 1955, Flacq in 1958, Triolet in 1959, Goodlands in 1963... Today, the network consists of 40 strategically located branches and helps assert the bank's leadership in the retail market. There is at least one MCB customer in every Mauritian family.

Helping businesses grow

The bank has always been dedicated to helping people with ideas become entrepreneurs and businesses grow. The MCB has been the lynchpin of the country's economic development. Drawing on its intimate local knowledge and business relations, the Bank has supported agriculture, trade and industry. Since the country's independence in 1968, however, the Bank has amplified its response to the more varied and diverse needs of the country. The MCB has thus been crucial in ensuring the take-off of a number of sectors which were, at inception, considered either unfashionable or risky. From tourism to textiles, local manufacturing to Freeport activities, from information & communication technology (ICT) to seafood, the MCB has always been present to support bright ideas and turn fledgling segments into pillars of the economy.

Pioneering innovations

The MCB has achieved several market firsts throughout its history: ATMs, mobile points of sale, junior savings accounts, SWIFT, TCR machines, phone, Internet Banking and mobile Internet Banking among others.

A regional leader

With a dominant market position on the local side, the MCB is well inspired to expand beyond the shores of Mauritius as early as 1991. Today, on the strength of its sustained international expansionary drive and regional rebranding initiatives, the MCB brand is visible in Madagascar, Maldives, Mozambique and Seychelles. The Group has also consolidated its presence in Réunion, Mayotte and Paris through BFCOI, its associate. The MCB opened a representative office in Johannesburg, South Africa in 2008. Moreover, the Group is actively involved in project and trade financing in various countries of the sub-Saharan region, while being engaged in other markets such as India.

The Bank of Banks

The MCB is also actively pursuing its market development drive on the basis of its 'Bank of Banks' strategy , positioning itself as a regional focal point for handling trade finance, payments and cards operations outsourcing, amongst others.