MCB Madagascar is a commercial bank in
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 ...
. It is a member of the
Mauritius Commercial Bank Group of companies headquartered 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
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 ...
. It was formerly known as MCB Madagascar.
History
The bank was established in 1992 by two banking entities,
Mauritius Commercial Bank Ltd and
Standard Bank
Standard Bank (officially Standard Bank Group Limited) is the largest bank in Africa, as well as the continent's biggest lender by assets.
The company's corporate headquarters, Standard Bank Centre, is located in Johannesburg, Gauteng. The ...
, in the name of Union Commercial Bank. The bank is a fully licensed commercial bank in
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 ...
, which by 2007 had established branches in
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 ...
(Antsahavola, Ankonrondrano, Ankadimbahoaka, Ambohibao),
Taomasina, and
Mahajanga
Mahajangā (French: Majunga) is a city and an administrative district on the northwest coast of Madagascar. The city of Mahajanga (Mahajanga I) is the capital of the Boeny Region. The district (identical to the city) had a population of 258,068 ...
. In 2007, the bank changed its name to Mauritius Commercial Bank (Madagascar) SA.
UCB became MCBM in 2007
/ref>
Ownership
The original shareholders were 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 ...
(70%), Standard Bank South Africa (10%), BFCOI (10%), FIARO (5%) and Société Manofi (5%). See table below: Currently, the shareholding may differ from the original ratios in 1992.
See also
* Mauritius Commercial Bank Ltd
* MCB Group
* List of banks in Madagascar
References
External links
History of MCB Madagascar as Union Commercial Bank
MCB Madagascar homepage
(French)
{{Authority control
Banks of Madagascar
Companies based in Antananarivo
Banks established in 1992
Economy of Madagascar