Over nine months, MCB records an increase of 14.6%
Banks continue to benefit from the increase in credit rates, but MCB is also reaping the benefits of its development outside Mauritius, especially when it works in hard currency markets. As of March 31, 2024, over the first nine months of its financial year, it recorded a net profit of 12.4 billion rupiah (approximately 253 million euros, confirming it as the most profitable company in Mauritius. This result is up 14.6% compared to the same period in its previous financial year. Its net banking income (NBI), for its part, increased by 20.8%, reaching 27.8 billion rupees (. approximately 567 million euros). Enough to bring a big smile to Jean-Michel Ng Tseung, Chief Executive of the MCB group: “ Our risk profile remains robust, with a stable cost of risk and a level of bad debts while our capitalization remains largely comfortable, as this is demonstrated by a Tier 1 ratio of 18.6%. The Group’s solid fundamentals and performance enable us to offer our shareholders sustained income. We are, in fact, delighted to announce an interim dividend of 9.50 rupees per share in 2024, compared to 8.50 in 2023. »
