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17 Jul 2017

MCB retains Euromoney’s best bank in Mauritius award

MCB has scooped Euromoney’s best bank in Mauritius award for the second year running. The Euromoney 2017 awards ceremony took place at The Tower of London on 6th July 2017.

According to Euromoney, MCB’s performance has shown that a well-established institution is still capable of growing fast, whilst Mauritius GDP growth did satisfactorily, in spite of the prevailing situation in the commodity market.

“Mauritius remained a haven of stability in African Banking over the last year, as the country’s GDP growth was unharmed by weakness in the commodity market.”

“Mauritius Commercial Bank did especially well, thereby reclaiming the award for best bank in Mauritius. With a return on equity of 17% and a 12% net profit (to $156 million), MCB has shown that even as a well-established institution, it is still capable of growing fast”.

Oliver Holmey, Chief Correspondent, Middle East and Africa, Euromoney Magazine, highlights the importance of the awards and the the growing participation to the competition:

"For almost 50 years, Euromoney has been the leading publication for covering the growth of international finance. Over the past 12 months its coverage has included interviews with close to 100 bank CEOs, ministers of finance and central bank governors around the world”.

“Euromoney's Awards for Excellence are the awards that matter to the banks and bankers who matter. They were established in 1992 and were the first of their kind in the global banking industry. This year Euromoney received almost 1,500 submissions from banks in an awards programme that covers 20 global awards, more than 50 regional awards, and best bank awards in close to 100 countries."