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]
Historyedit
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]
Member companiesedit
The companies that compose the MCB Group include but are not limited to the following:[8]
Banking operationsedit
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 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.
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 investmentsedit
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.
Ownershipedit
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 Limited stock ownership
Rank
Name of owner
Percentage ownership
1
National Pensions Fund
7.1
2
State Insurance Company of Mauritius Ltd
3.9
3
Swan Life Ltd
3.6
4
Promotion & Development Limited
2.9
5
The Mauritius Commercial Bank Ltd Superannuation Fund
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]
^Arouff, Jean Paul (14 May 2015). "Mauritius Commercial Bank Group profit up, optimistic for full year". Reuters. Thomson Reuters. Retrieved 1 July 2015.
^. Business Magazine. Business Publications Limited. Archived from the original on 5 July 2015. Retrieved 1 July 2015.
^(PDF). MCB Group. 15 November 2013. Archived from the original (PDF) on 26 June 2015. Retrieved 26 June 2015.
^"Transfer of Undertaking by The Mauritius Commercial Bank Ltd" (PDF). Bank of Mauritius. 9 June 2015. Retrieved 1 July 2015.
^"MCB Group replaces MCB on the Stock Exchange of Mauritius". 4 April 2014. Retrieved 1 July 2015.
^"MCB Group 2014 Annual Report" (PDF). MCB Group. 30 June 2014. Retrieved 26 June 2015.
^"Shareholder information". MCB Group. Retrieved 13 July 2020.
^"Corporate Governance". MCB Group. Retrieved 13 July 2020.
January 01, 1970
group, confused, with, mauritius, commercial, bank, limited, financial, services, holding, company, headquarters, located, port, louis, mauritius, with, subsidiaries, investments, mauritius, france, india, madagascar, maldives, mayotte, mozambique, réunion, se. Not to be confused with Mauritius Commercial Bank 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 Reunion Seychelles and South Africa MCB Group LimitedCompany typePublicTraded asSEM MCBGIndustryFinancial servicesFounded1 September 1838 185 years ago 1838 09 01 as Mauritius Commercial Bank 5 August 2013 10 years ago 2013 08 05 as MCB Group as parent holding company to Mauritius Commercial Bank which is now as a subsidiary FounderMr James BlythHeadquarters9 15 Sir William Newton Street Port Louis MauritiusKey peopleJean Michel Ng Tseung CEO MCB Group Communique PDF Number of employees4 100 2023 Annual Report PDF WebsiteMCB Group Contents 1 Overview 2 History 3 Member companies 3 1 Banking operations 3 2 Non banking financial 3 3 Other investments 4 Ownership 5 Governance 6 See also 7 ReferencesOverview editMCB 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 History editMCB 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 Member companies editThe companies that compose the MCB Group include but are not limited to the following 8 Banking operations edit 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 Mocambique Maputo Mozambique 95 Shareholding A commercial bank in Mozambique MCB Madagascar Antananarivo Madagascar 85 Shareholding A commercial bank in Madagascar MCB Maldives Male Maldives 100 Shareholding A commercial bank in Maldives Banque Francaise Commerciale Ocean Indien BFCOI Paris France 49 99 Shareholding BFCOI is a joint venture between MCB Group and Societe Generale The bank has operations in France and the French Overseas departments of Mayotte and Reunion Non banking financial edit 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 amp 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 edit 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 Limitee 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 editThe 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 Limited stock ownership Rank Name of owner Percentage ownership 1 National Pensions Fund 7 1 2 State Insurance Company of Mauritius Ltd 3 9 3 Swan Life Ltd 3 6 4 Promotion amp 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 MUA Life Ltd 1 1 SSLC OSSB Boston A C Russel Investment Company PLC FN NAS5 1 0 National Savings Fund 1 0 KASA Investments Ltd 1 0 7 Others 76 0 Total 100Governance editMCB 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 See also editMauritius Commercial Bank MCB Capital Markets Banque Francaise Commerciale Ocean Indien Societe Generale Stock Exchange of Mauritius Bank of MauritiusReferences edit MCB Group at a glance MCB Group Retrieved 26 June 2015 SEM Top 10 Companies PDF Stock Exchange of Mauritius 30 June 2015 Retrieved 1 July 2015 Arouff Jean Paul 14 May 2015 Mauritius Commercial Bank Group profit up optimistic for full year Reuters Thomson Reuters Retrieved 1 July 2015 The TOP 100 Companies of Mauritius Business Magazine Business Publications Limited Archived from the original on 5 July 2015 Retrieved 1 July 2015 Mauritius Commercial Bank Statement to Shareholders PDF MCB Group 15 November 2013 Archived from the original PDF on 26 June 2015 Retrieved 26 June 2015 Transfer of Undertaking by The Mauritius Commercial Bank Ltd PDF Bank of Mauritius 9 June 2015 Retrieved 1 July 2015 MCB Group replaces MCB on the Stock Exchange of Mauritius 4 April 2014 Retrieved 1 July 2015 MCB Group 2014 Annual Report PDF MCB Group 30 June 2014 Retrieved 26 June 2015 Shareholder information MCB Group Retrieved 13 July 2020 Board MCB Group Retrieved 2 April 2024 Corporate Governance MCB Group Retrieved 13 July 2020 Retrieved from https en wikipedia org w index php title MCB Group amp oldid 1216833847, wikipedia, wiki, book, books, library,
