Profits of Rs 10.6 billion for 6 months ending 31 December 2025

Group profit before tax for the six months to December 2025 increased by 15.4% reflecting the Group’s resilience in a challenging and uncertain market environment. This performance was also supported by a marked improvement in debt recovery during the period.

We are seeing good momentum across our business lines, both in our home and international markets, and this is driving steady balance sheet growth. Asset quality continues to strengthen, with the gross NPL ratio falling to 2.1% and the cost of risk trending downward. Our robust capital and liquidity position further reinforces our ability to grow responsibly and deliver on our Vision 2030 ambitions.”

• The Group’s operating income increased by 7.7% with an improvement in core earnings across all the operating clusters.

• Net interest income increased by 4.1% supported by the continued expansion of the Group’s interest-earning assets portfolio. This was achieved despite an overall decline in margins, primarily due to lower foreign currency customer margins, partially offset by improved margins on liquid assets.

• Net fee and commission income rose by 6.0%, reflecting stronger performance in payments and wealth management activities as well as higher revenues from non-banking activities.

• Net trading income increased by 47.9%, driven by higher revenues from foreign exchange and fixed income transactions.

• Net gain on equity financial instruments declined by 89.6% with fair value gains on Visa and Mastercard shares no longer recognised in the income statement as from this financial year. Since November 2024, fair value changes of these securities are recorded in other comprehensive income. The decline in net gains on equity financial instruments was, however, mitigated by fair value gains from MCB Equity Fund.

• Non-interest expenses were up by 17.1%, due to higher staff costs to support the Group’s expansion, rising technology-related costs as well as the higher contribution to the deposit insurance scheme in Mauritius. The Group’s cost-to-income ratio increased to 37.8% for the six months to December 2025 compared to 34.8% in the same period last year.

• Impairment charges decreased by 83.2%, mainly driven by the release of specific provisions and the successful recoveries made during the first half of the financial year. Consequently, the annualised cost of risk fell to 11 basis points, 78 basis points lower than last year. The gross NPL stood at 2.1% as at December 2025.

icon Press Release

232 KB

Share it