{{Short description|Mauritian financial services holding company}} {{Not confuse|Mauritius Commercial Bank}} {{EngvarB|date=June 2015}} {{Use dmy dates|date=June 2015}} {{Infobox company | name = MCB Group Limited | logo = MCB_Group_logo.png | vector_logo = | type = Public | genre = | foundation = *{{Start date and years ago|1838|09|01|df=y}} (as Mauritius Commercial Bank) *{{Start date and years ago|2013|08|05|df=y}} (as MCB Group, as parent holding company to Mauritius Commercial Bank, which is now as a subsidiary) | founder = Mr. James Blyth | location = 9-15, Sir William Newton Street, <br/>Port Louis, Mauritius | key_people = {{plainlist| * Jean-Michel Ng Tseung {{small|(CEO)}} {{Cite web|url = https://mcbgroup.com/docs/default-source/investor-centre/stock-exchange-announcements/mcb-group-communique-14-nov-2022.pdf|title = MCB Group Communique}} }} | area_served = | industry = Financial services | products = | revenue = | operating_income = | net_income = | num_employees = 4,400 (2024){{Cite web|url = https://mcbgroup.com/docs/default-source/investor-centre/annual-report-2024/annual-report-2024-mcb-group.pdf|title = Annual Report}} | parent = | divisions = | owner = | homepage = [http://www.mcbgroup.com/ MCB Group] | footnotes = | traded_as = SEM:'''MCBG''' }} '''MCB Group Limited''' is a financial services holding company. Its headquarters is located in Port Louis, Mauritius, with subsidiaries and investments in Mauritius, France, India, Madagascar, Maldives, Mayotte, Mozambique, Réunion, Seychelles and South Africa.
== Overview == MCB Group is a large financial services conglomerate. As of 30 June 2024, it had an estimated asset base of over US$20 billion (MUR 937 billion) and a net profit of over US$ 340 million (MUR 16,045 million) .<ref name=":0">{{Cite web|url = https://mcbgroup.com/docs/default-source/investor-centre/annual-report-2024/annual-report-2024-mcb-group.pdf|title = MCB Group Annual Report|accessdate = 2025-08-03|publisher = MCB Group}}</ref>
The group is listed as one of the top 10 companies listed on the Stock Exchange of Mauritius in terms of annualised returns.<ref>{{Cite web|url = http://www.stockexchangeofmauritius.com/downloads/top10.pdf|title = SEM Top 10 Companies|date = 2015-06-30|accessdate = 2015-07-01|publisher = Stock Exchange of Mauritius}}</ref> A 2015 report by Business Magazine indicated that the MCB Group was the most valuable company in the Eastern Africa and the Indian Ocean region in terms of market value<ref>{{Cite web|url = https://www.reuters.com/article/mauritius-mcbg-results-idUSL1N0Y51SF20150514|title = Mauritius Commercial Bank Group profit up, optimistic for full year|date = May 14, 2015|accessdate = July 1, 2015|website = Reuters|publisher = Thomson Reuters|last = Arouff|first = Jean Paul}}</ref> and was the most profitable company in Mauritius.<ref>{{Cite web|url = http://www.businessmag.mu/magazine/top-100-companies-mauritius|title = The TOP 100 Companies of Mauritius|accessdate = 2015-07-01|website = Business Magazine|publisher = Business Publications Limited|url-status = dead|archive-url = https://web.archive.org/web/20150705033146/http://www.businessmag.mu/magazine/top-100-companies-mauritius|archive-date = 2015-07-05}}</ref>
== History == MCB Group Ltd was incorporated on 5 August 2013 during the corporate restructure of Mauritius Commercial Bank (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.<ref>{{Cite web|url = http://www.mcbgroup.com/en/media/Statement%20to%20Shareholders%20and%20Listing%20Particulars_tcm12-7240.pdf|title = Mauritius Commercial Bank - Statement to Shareholders|date = 15 November 2013|accessdate = 26 June 2015|publisher = MCB Group|archive-url = https://web.archive.org/web/20150626144951/http://www.mcbgroup.com/en/media/Statement%20to%20Shareholders%20and%20Listing%20Particulars_tcm12-7240.pdf|archive-date = 26 June 2015|url-status = dead}}</ref><ref>{{Cite web|url = http://www.bom.mu/pdf/Communique/comm_20150610.pdf|title = Transfer of Undertaking by The Mauritius Commercial Bank Ltd|date = 9 June 2015|accessdate = 1 July 2015|publisher = Bank of Mauritius}}</ref>
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.<ref>{{Cite web|url = http://ionnews.mu/mcb-group-replaces-mcb-stock-exchange-mauritius-0404/|title = MCB Group replaces MCB on the Stock Exchange of Mauritius|date = April 4, 2014|accessdate = July 1, 2015}}</ref>
== Member companies == The companies that compose the MCB Group include but are not limited to the following:<ref>{{Cite web|url = http://www.mcbgroup.com/en/media/MCB-Group-AR%202014_tcm12-9301.pdf|title = MCB Group 2014 Annual Report|date = 2014-06-30|accessdate = 2015-06-26|publisher = MCB Group}}</ref>
=== 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 in Mauritius, serving individuals and businesses, focusing mainly on large corporations. Incorporated in 1838 and the group's flagship company. * MCB Seychelles – Victoria, Seychelles – 100% Shareholding – A commercial bank in Seychelles. * MCB Moçambique – Maputo, Mozambique – 95% Shareholding – A commercial bank in Mozambique. * MCB Madagascar – Antananarivo, Madagascar – 85% Shareholding – A commercial bank in Madagascar. * MCB Maldives – Malé, Maldives – 100% Shareholding – A commercial bank in Maldives. * Banque Française Commerciale Océan Indien (BFCOI)– Paris, France – 49.99% Shareholding – BFCOI is a joint venture between MCB Group and Société Générale. The bank has operations in France and the French Overseas departments of Mayotte and Réunion.
=== Non-banking financial === * [https://mcbcapitalmarkets.mu 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 === * [https://fincorp.mu Fincorp Investment Limited] – 57.56% Shareholding – Holding company quoted on the Stock Exchange of Mauritius. Its subsidiaries include: ** [https://mcbleasing.mu/ 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:<ref name="shareolder-info">{{Cite web|url = https://www.mcbgroup.com/en/investor-centre/shareholder-information|title = Shareholder information|date = |accessdate = 2020-07-13 |publisher = MCB Group}}</ref> {| class="wikitable sortable" style="margin-left:auto;margin-right:auto" |+ href="Banque Française Commerciale Océan Indien" | MCB Group Limited stock ownership ! style="width:2em;" |Rank !Name of owner !Percentage ownership |- |1 |[https://socialsecurity.govmu.org/Pages/Department/National-Pensions-Fund.aspx National Pensions Fund] |7.1 |- |2 |[https://www.sicom.mu/about/investors-corner/group-structure State Insurance Company of Mauritius Ltd] |3.9 |- |3 |[https://www.swanforlife.com/en/about-swan/about/our-company Swan Life Ltd] |3.6 |- |4 |[https://promotionanddevelopment.com/ Promotion & Development Limited] |2.9 |- |5 |The Mauritius Commercial Bank Ltd Superannuation Fund |1.3 |- |6 |BNYM SA/NV A/C Eastspring Investment SICAV-FIS |1.1 |- | |[https://www.mua.mu/investors MUA Life Ltd] |1.1 |- | |SSLC/OSSB Boston A/C Russel Investment Company PLC FN:NAS5 |1.0 |- | |[https://socialsecurity.govmu.org/Pages/Department/National-Savings-Fund.aspx National Savings Fund] |1.0 |- | |[https://www.linkedin.com/company/kasa-group-mauritius-ltd/ KASA Investments Ltd] |1.0 |- |7 |Others |76.0 |- | |'''Total''' |'''100''' |- |}
== 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.<ref>{{Cite web |title=Board |url=https://www.mcbgroup.com/board |accessdate=2024-04-02 |publisher=MCB Group}}</ref><ref>{{Cite web|url = https://www.mcbgroup.com/en/corporate-governance|title = Corporate Governance|accessdate = 2020-07-13|publisher = MCB Group}}</ref>
== See also == * Mauritius Commercial Bank * [https://www.mcbcm.mu MCB Capital Markets] * Banque Française Commerciale Océan Indien * Société Générale * Stock Exchange of Mauritius * Bank of Mauritius
== References == {{Reflist|30em}}
Category:Companies listed on the Stock Exchange of Mauritius Category:Companies based in Port Louis Category:2013 establishments in Mauritius Category:Holding companies established in 2013 Category:Holding companies of Mauritius Category:Financial services companies of Mauritius