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01 Nov 2016

Best Private Bank in Mauritius 2016

Port-Louis, 1st November 2016 : MCB Private Banking has won the Best Private Bank in Mauritius 2016 title awarded by Professional Wealth Management and The Banker, two publications of the Financial Times group.

The jury, which consisted of 15 eminent finance specialists from around the world, concluded that MCB Private Banking had reached a new milestone in its development while continuing to offer an exceptional service to its clients.

MCB Private Banking leverages its expertise, its experience and the strategic location of Mauritius between Asia and Africa to further its growth. In doing so, it is helping Mauritius strengthen its position as a unique private banking and wealth management destination. The rising number of high net worth individuals in the region means prospects for growth are good. MCB Private Banking saw its number of clients grow by 16.5% in the last year. Today, around half of them come from outside Mauritius.

As MCB Private Banking further diversifies its markets, it plans to expand its private banking offering into Africa. It will leverage on MCB’s representative offices in Johannesburg (South Africa) and Nairobi (Kenya) in order to respond to the growing interest from sub-Saharan countries for the diversification of their wealth manage¬ment and investment destinations.

The domestic scene remains as important. Mauritius is a competitive market, with more than 20 banks including a num¬ber of niche players serving the HNWI market. The growing trend of wealthy foreign¬ers holding resident permits in Mauritius is creating a growing demand for real estate and pre¬mium concierge services.

“Knowledge of finance is one thing but the most important aspect of our service is to understand the real needs of families,” Didier Merle, Head of MCB Private Banking, said.

“Everyone at MCB private Banking is honoured to receive this award for the third year in a row. It inspires us to do even better by listening to our customers, understanding them and responding effectively to their needs. Ultimately, our aim is to understand the profile of our valued clients with a view to delivering a truly personalised experience to them,” he added.