 | |
| Type | Public |
|---|---|
| SEM:MCBG | |
| Industry | Financial services |
| Founded |
|
| Founder | Mr. James Blyth |
| Headquarters | 9-15, Sir William Newton Street, Port Louis, Mauritius |
Key people |
|
Number of employees | 3,011 (2015) |
| 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]
All the Non-banking financial investments are based in Port Louis, Mauritius.
All Other investments are based in Port Louis, Mauritius.
The stock of MCB Group is listed on the SEM. As at March 31, 2020, shareholding in the group’s stock was as depicted in the table below: [9]
| Rank | Name of owner | Percentage ownership |
|---|---|---|
| 1 | National Pensions Fund | 6.9 |
| 2 | Swan Life Ltd | 3.4 |
| 3 | Promotion & Development Limited | 3.0 |
| 4 | State Insurance Company of Mauritius Ltd | 2.5 |
| 5 | BNYM LUX SA A/C Eastspring Investment SICAV-FIS | 1.9 |
| 6 | Others | 82.3 |
| Total | 100 | |
MCB is governed by a twelve-person board of directors with Pierre Guy Noel as the group chief executive officer. [10] [11]
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