MCB Group Limited

Company type	Public
Traded as	SEM:MCBG
Industry	Financial services
Founded	1 September 1838; 186 years ago (1838-09-01) (as Mauritius Commercial Bank) 5 August 2013; 11 years ago (2013-08-05) (as MCB Group, as parent holding company to Mauritius Commercial Bank, which is now as a subsidiary)
Founder	Mr. James Blyth
Headquarters	9-15, Sir William Newton Street, Port Louis, Mauritius
Key people	Jean-Michel Ng Tseung (CEO) "MCB Group Communique" (PDF).
Number of employees	4,100 (2023)"Annual Report" (PDF).
Website	MCB Group

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.

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).^[1]

The group is listed as one of the top 10 companies listed on the Stock Exchange of Mauritius in terms of annualized returns.^[2] 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^[3] and was the most profitable company in Mauritius.^[4]

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.^[5][6]

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.^[7]

The companies that compose the MCB Group include but are not limited to the following:^[8]

• 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.

• 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.

• 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.

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:^[9]

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.^[10][11]

• Mauritius Commercial Bank
• MCB Capital Markets
• Banque Française Commerciale Océan Indien
• Société Générale
• Stock Exchange of Mauritius
• Bank of Mauritius