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MCB Group profits boosted by its international diversification strategy

Sep 27, 2019, 05:00 AM by User Not Found

MCB Group's international strategy and its policy of diversification towards non-bank financial activities continue to bear fruit.

MCB Group Ltd net profit after tax grew by 31, 3% to reach Rs 9.5 billion for the fiscal year ending 30th June 2019. While the contribution of the results of its banking activities in Mauritius remained stable at Rs 3 billion, the banking activities abroad as well as the performance of non-bank entities boosted the results, contributing to 69% of profits compared to 57% last year and generating profits of Rs 6.5 billion compared to Rs 4 billion for the previous year.

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MCB Group profits boosted by its international diversification strategy

Sep 27, 2019, 05:00 AM by User Not Found

MCB Group's international strategy and its policy of diversification towards non-bank financial activities continue to bear fruit.

MCB Group Ltd net profit after tax grew by 31, 3% to reach Rs 9.5 billion for the fiscal year ending 30th June 2019. While the contribution of the results of its banking activities in Mauritius remained stable at Rs 3 billion, the banking activities abroad as well as the performance of non-bank entities boosted the results, contributing to 69% of profits compared to 57% last year and generating profits of Rs 6.5 billion compared to Rs 4 billion for the previous year.

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