MCB Group Limited is a financial services

holding company A holding company is a company whose primary business is holding a controlling interest in the Security (finance), securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own Share ...

. Its headquarters is located in

Port Louis Port Louis (, ; or , ) is the capital and most populous city of Mauritius, mainly located in the Port Louis District, with a small western part in the Black River District. Port Louis is the country's financial and political centre. It is admi ...

, Mauritius, with subsidiaries and investments in

Mauritius Mauritius, officially the Republic of Mauritius, is an island country in the Indian Ocean, about off the southeastern coast of East Africa, east of Madagascar. It includes the main island (also called Mauritius), as well as Rodrigues, Ag ...

France France, officially the French Republic, is a country located primarily in Western Europe. Overseas France, Its overseas regions and territories include French Guiana in South America, Saint Pierre and Miquelon in the Atlantic Ocean#North Atlan ...

India India, officially the Republic of India, is a country in South Asia. It is the List of countries and dependencies by area, seventh-largest country by area; the List of countries by population (United Nations), most populous country since ...

Madagascar Madagascar, officially the Republic of Madagascar, is an island country that includes the island of Madagascar and numerous smaller peripheral islands. Lying off the southeastern coast of Africa, it is the world's List of islands by area, f ...

Maldives The Maldives, officially the Republic of Maldives, and historically known as the Maldive Islands, is an Archipelagic state, archipelagic country in South Asia located in the Indian Ocean. The Maldives is southwest of Sri Lanka and India, abou ...

Mayotte Mayotte ( ; , ; , ; , ), officially the Department of Mayotte (), is an Overseas France, overseas Overseas departments and regions of France, department and region and single territorial collectivity of France. It is one of the Overseas departm ...

Mozambique Mozambique, officially the Republic of Mozambique, is a country located in Southeast Africa bordered by the Indian Ocean to the east, Tanzania to the north, Malawi and Zambia to the northwest, Zimbabwe to the west, and Eswatini and South Afr ...

Réunion Réunion (; ; ; known as before 1848) is an island in the Indian Ocean that is an overseas departments and regions of France, overseas department and region of France. Part of the Mascarene Islands, it is located approximately east of the isl ...

Seychelles Seychelles (, ; ), officially the Republic of Seychelles (; Seychellois Creole: ), is an island country and archipelagic state consisting of 155 islands (as per the Constitution) in the Indian Ocean. Its capital and largest city, Victoria, ...

and

South Africa South Africa, officially the Republic of South Africa (RSA), is the Southern Africa, southernmost country in Africa. Its Provinces of South Africa, nine provinces are bounded to the south by of coastline that stretches along the Atlantic O ...

Overview

MCB Group is a large financial services conglomerate. As of 31 March 2015, it had an estimated asset base of over US$7.4 billion (MUR 267.7 billion) and estimated shareholders' equity of more than US$1.0 billion (MUR 35.2 billion). The group is listed as one of the top 10 companies listed on the Stock Exchange of Mauritius in terms of annualized returns. A 2015 report by Business Magazine indicated that the MCB Group was the most valuable company in the

Eastern Africa East Africa, also known as Eastern Africa or the East of Africa, is a region at the eastern edge of the Africa, African continent, distinguished by its unique geographical, historical, and cultural landscape. Defined in varying scopes, the regi ...

and the Indian Ocean region in terms of

market value Market value or OMV (open market valuation) is the price at which an asset would trade in a competitive auction setting. Market value is often used interchangeably with ''open market value'', ''fair value'' or '' fair market value'', although t ...

and was the most profitable company in Mauritius.

History

MCB Group Ltd was incorporated on 5 August 2013 during the corporate restructure of

Mauritius Commercial Bank Mauritius Commercial Bank (MCB) is a commercial bank in Mauritius. MCB is licensed by the Bank of Mauritius, the country's central bank and the nation's banking regulator. The bank's headquarters are located in Port Louis, Mauritius. Overview ...

(MCB). Previously, MCB operated as both a listed company and a holding company. MCB Group was created by MCB's shareholder with the aim of separate the banking and non-banking operations and raise capital in order to position itself for future growth. During the restructure, shareholders of MCB exchanged their MCB shares for MCB Group shares on a 1:1 ratio and the various subsidiaries previously held by Mauritius Commercial Bank were unbundled to MCB Group. Its shares were then listed on the Stock Exchange of Mauritius on April 5, 2014 to replace those of Mauritius Commercial Bank on the Mauritian bourse.

Member companies

The companies that compose the MCB Group include but are not limited to the following:

Banking operations

* MCB Investment Holding Limited – Port Louis, Mauritius – 100% Shareholding – Intermediary holding company of all of the Group's banking businesses. * The Mauritius Commercial Bank Ltd – Port Louis, Mauritius – 100% Shareholding – A

commercial bank A commercial bank is a financial institution that accepts deposits from the public and gives loans for the purposes of consumption and investment to make a profit. It can also refer to a bank or a division of a larger bank that deals with whol ...

in Mauritius, serving individuals and businesses, focusing mainly on large corporations. Incorporated in 1838 and the group's flagship company. * MCB Seychelles –

Victoria Victoria most commonly refers to: * Queen Victoria (1819–1901), Queen of the United Kingdom and Empress of India * Victoria (state), a state of Australia * Victoria, British Columbia, Canada, a provincial capital * Victoria, Seychelles, the capi ...

, Seychelles – 100% Shareholding – A commercial bank in Seychelles. * MCB Moçambique –

Maputo Maputo () is the Capital city, capital and largest city of Mozambique. Located near the southern end of the country, it is within of the borders with Eswatini and South Africa. The city has a population of 1,088,449 (as of 2017) distributed ov ...

, Mozambique – 95% Shareholding – A commercial bank in Mozambique. *

MCB Madagascar MCB Madagascar is a commercial bank in Madagascar. It is a member of the Mauritius Commercial Bank Group of companies headquartered in Port Louis, Mauritius. It was formerly known as MCB Madagascar. History The bank was established in 1992 by t ...

–

Antananarivo Antananarivo (Malagasy language, Malagasy: ; French language, French: ''Tananarive'', ), also known by its colonial shorthand form Tana (), is the Capital city, capital and largest city of Madagascar. The administrative area of the city, known ...

, Madagascar – 85% Shareholding – A commercial bank in Madagascar. * MCB Maldives –

Malé Malé is the capital and most populous city of the Maldives. With a population of 211,908 in 2022 within its administrative area and coterminous geographical area of , Malé is one of the most densely populated cities in the world. The city i ...

, Maldives – 100% Shareholding – A commercial bank in Maldives. *

Banque Française Commerciale Océan Indien Banque Française Commerciale Océan Indien (BFCOI) is a French bank that since 2003 has been jointly owned by Mauritius Commercial Bank and Société Générale. It has its headquarters in Saint Denis, Réunion. It has more than 360 employees and ...

(BFCOI)–

Paris Paris () is the Capital city, capital and List of communes in France with over 20,000 inhabitants, largest city of France. With an estimated population of 2,048,472 residents in January 2025 in an area of more than , Paris is the List of ci ...

, France – 49.99% Shareholding – BFCOI is a joint venture between MCB Group and

Société Générale Société Générale S.A. (), colloquially known in English-speaking countries as SocGen (), is a French multinational universal bank and financial services company founded in 1864. It is registered in downtown Paris and headquartered nearby i ...

. The bank has operations in France and the

French Overseas departments The overseas departments and regions of France (, ; DROM) are the five departments and regions of the French Republic which are located outside European France (also known as "metropolitan France"). These overseas entities have exactly the same ...

of Mayotte and Réunion.

Non-banking financial

MCB Capital Markets
– 100% Shareholding – A leading financial services Investment holding company in Mauritius. Providing financial services through its subsidiaries: ** MCB Investment Services ** MCB Registry & Securities ** MCB Stockbrokers ** MCB Capital Partners ** MCB Investment Management ** MCB Structured Solutions * MCB Equity Fund – 100% Shareholding – A private equity fund which specializes in providing expansion and buy-out capital to small and medium-sized established businesses across Eastern and Sub-Saharan Africa. * MCB Factors – 100% Shareholding – Offering invoice discounting services. * Credit Guarantee Insurance Company – Port Louis, Mauritius – 40% Shareholding – A joint venture with La Prudence Holding, providing credit insurance services to its customers by ensuring protection in respect of their trade receivables. All the Non-banking financial investments are based in Port Louis, Mauritius.

Other investments

Fincorp Investment Limited
– 57.56% Shareholding – Holding company quoted on the Stock Exchange of Mauritius. Its subsidiaries include: *
MCB Leasing
– the leasing arm of MCB Group and a fully owned subsidiary of Fincorp Investment ** Promotion and Development – A quoted company having diversified interests * MCB Properties – 100% Shareholding – The company owns several properties, some of which house banking premises of MCB Limited. * MCB Forward Foundation – 100% Shareholding – The MCB Forward Foundation manages the Corporate Social Responsibility (CSR) activities of the Group.on * Blue Penny Museum – 97.88% Shareholding – The Blue Penny Museum is an art and history museum that is wholly devoted to Mauritius. * MCB Consulting Services – 100% Shareholding – The dedicated consulting arm of the Group. * Compagnie des Villages de Vacances de l’Isle de France Limitée (COVIFRA) - 84.4% Shareholding - Hotel property holding company quoted on the Stock Exchange of Mauritius Ltd All Other investments are based in Port Louis, Mauritius.

Ownership

The stock of MCB Group is listed on the SEM. As at June 30, 2023, shareholding in the group’s stock was as depicted in the table below:

Governance

MCB Group is governed by an eleven-person board of directors with Didier Harel as the Chairman and Jean Michel Ng Tseung as the Group Chief Executive Officer.

References

{{Reflist, 30em Companies listed on the Stock Exchange of Mauritius Companies based in Port Louis 2013 establishments in Mauritius Holding companies established in 2013 Holding companies of Mauritius Financial services companies of Mauritius