28 Sep 2023
MCB Group posts profits of Rs 14,1 billion

In spite of the constantly shifting and volatile landscape, the Group’s profits attributable to ordinary shareholders have demonstrated remarkable resilience and growth, increasing by 46.7% to Rs 14,133 million, largely underpinned by our international....

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Three in a row!

Jul 12, 2018, 05:00 AM by User Not Found

MCB claimed Mauritius’ best bank of the year accolade for the third year running.

According to Euromoney, MCB was again recognised as the leading bank in the country, leveraging its extensive branch network across Mauritius and its correspondent banking relationships throughout the world to deliver an impressive profit growth. The award ceremony was held on Wednesday 11th July, at the London Hilton on Park Lane. The event was compered by Rory Bremner, with guest speaker Sir Geoff Hurst - scorer of the winning goals for England in the 1966 World Cup final – also in attendance as guests watched the England v Croatia semi-final before the awards presentations began.

Euromoney reflected on the fact that MCB has market shares of around 40% in terms of domestic credit to the economy and local currency deposits and nearly 50% for cards issued. “Its Mauritian business is anchored on an extensive network of 40 branches, 166 ATMs, more than 7,000 point of sales terminals, over 105,000 registered internet banking customers and a network of over 1,600 correspondent banks across the world. The bank also expanded its presence in Madagascar, with the opening of new branches. Over the last year its profit before tax rose from Rs. 6.9 billion to Rs 7.6 billion”.

The 2018 Awards for Excellence programme, run by Euromoney’s editors, recognised banks in almost 100 countries, in all regions and in 20 global categories. The Euromoney team received almost 1,500 submissions, interviewing over the course of the awards period close to 1,000 bankers in an intense process that lasted four months.
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