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As Mauritius’ longest-standing financial institution, we have been at the forefront of fostering sustainable prosperity for our customers, communities, people, and the nation. As our business evolves, we remain committed to redefining the very meaning of success and ensuring that our actions and impacts go well beyond numbers.
Our values
Our values guide and inspire every individual across MCB Group, helping them remember they are part of something bigger than themselves.
Our Shared Ways of Working
Our ‘Shared Ways of Working’ comprise a set of behaviours that MCB believes are important to create trust internally and externally.
Financial highlights1
Note: 1 Indicators pertain to FY24
Message from our Chairman & Head of Sustainability, Reputation and Engagement
"Another area where our efforts have been reinforced is our commitment to continuously contribute towards making Mauritius a more resilient and prosperous island.”
Didier HAREL
Chairperson
MCB Group Ltd
Leadership Insights on Sustainability
"Humanity is facing unprecedented challenges, and every individual, business, country and continent needs to work together to respond. ”
Jean Michel Ng Tseung
Chief Executive
MCB Group Ltd
"Another area where our efforts have been reinforced is our commitment to continuously contribute towards making Mauritius a more resilient and prosperous island.”
Didier HAREL
Chairperson
MCB Group Ltd
"Together with our stakeholders, I am proud that we continue to move from commitment to action, and I look forward to progressing together on this journey in the years ahead.”
Vanessa Doger De Spéville
Head of Sustainability, Reputation and Engagement
MCB Group Ltd
"Humanity is facing unprecedented challenges, and every individual, business, country and continent needs to work together to respond. ”
Jean Michel Ng Tseung
Chief Executive
MCB Group Ltd
"In a world characterised by uncertainty and disruptions from geopolitical tensions, supply chain challenges, and the visible effects of climate change...”
Thierry Hebraud
Chief Executive Officer
MCB Ltd
Our sustainability approach is grounded in our commitment to Success Beyond Numbers. This means driving material and measurable change that helps people succeed by responsibly providing financing and banking solutions, championing innovation, and using our expertise to make a positive difference to economies, people, communities and the environment.
How we govern sustainability and climate, environmental and social risks
Our Board is committed to upholding the highest standards of corporate governance to support long-term business sustainability and create lasting value for our stakeholders.
In response to growing calls for greater transparency on how organisations are responding to sustainability-related risks and opportunities, we continue to refine and enhance our governance framework. This includes integrating climate-related and environmental financial risk management as per the requirements of the Guideline on Climate-related and Environmental Financial Risk Management (published by the Bank of Mauritius, effective 1 April 2022). With the elevation of the sustainability function at Group level, as communicated last year, a new Strategic Business Unit (SRE), Sustainability, Reputation and Engagement SBU, was created in December 2023. This reinforces our commitment to mainstreaming sustainability matters throughout the Group.
The Head of Sustainability, Reputation and Engagement function sits at the Group Executive Committee. This committee has been set up to to drive organisational alignment, appraise developments in our operating environment and to manage issues impacting the Group.
We aim to positively contribute to the socio-economic development of the local and regional economies we operate in. We are increasing our efforts to foster entrepreneurship and innovation while ensuring that we develop our products sustainably and responsibly.
Our approach to developing vibrant and sustainable local and regional economies supports the SDGs, UNGC, and UNEP FI PRB:
Alignment with the SDGs, UNGC, UNEP FI PRB
Principles 4, 5, 6, 8, 9
Principles 3, 4
For more than 185 years, we have played a central role in driving Mauritius' socio-economic development. Over this time, we have evolved our approach to ensure we continue to act as a force for good, contributing to a more secure, sustainable and inclusive society.
Today, climate change is one of our most urgent concerns, with more frequent and intense weather events affecting people, societies and economies and damaging land and marine ecosystems. As the leading bank in Mauritius, we are therefore committed to using our scale and influence to build local and regional resilience and support the transition to a low-carbon economy.
As illustrated on page 41, the direct environmental impacts generated from our daily operations are significantly lower than the indirect impacts from our financing activities, where we are exposed to sectors such as energy, agriculture, manufacturing, transport, and construction. We continue to invest in and implement initiatives to minimise our direct operational footprint while taking steps to address our upstream and downstream environmental impacts.
Alignment with the SDGs, UNGC, UNEP FI PRB
Principles 1, 2, 7, 8, 9
Principles 2, 3, 4
Our employees are fundamental to driving our business objectives and helping us deliver on our strategy and purpose. We are committed to creating an inclusive and engaging workplace that offers meaningful opportunities for personal and professional development. This is essential to attract and retain critical skills and create an environment where our employees can perform at their best. We remain committed to building enterprising and thriving communities outside our operations.
Alignment with the SDGs, UNGC, UNEP FI PRB
Principles 1, 2, 3, 4, 5
Principles 2, 4, 5
Supporting our employees
| MCB Group employees: 4,3601 (FY23: 4,092) | ||||||
|---|---|---|---|---|---|---|
| MCB Ltd 3,503 (FY23: 3,291) | Local subsidiaries 336 (FY23: 323) | MCB Seychelles 207 (FY23: 200) | MCB Madagascar 259 (FY23: 217) | MCB Maldives 55 (FY23: 61) | ||
 Women | Permanent2 | 1,768 (FY23: 1,617) | 152 (FY23: 138) | 161 (FY23: 161) | 151 (FY23: 125) | 41 (FY23: 41) |
| Fixed-term3 | 85 (FY23: 81) | 5 (FY23: 8) | 3 (FY23: 3) | 5 (FY23: -) | 1 (FY23: 1) | |
 Men | Permanent | 1,572 (FY23: 1,531) | 162 (FY23: 170) | 38 (FY23: 35) | 98 (FY23: 92) | 13 (FY23: 15) |
| Fixed-term | 78 (FY23: 62) | 17 (FY23: 7) | 5 (FY23: 4) | 5 (FY23: -) | - (FY23: -) | |
| Hire rate | Retention rate | Turnover rate | |
|---|---|---|---|
| MCB Ltd | 10%(FY23: 15%) | 93%(FY23: 95%) | 6.5%(FY23: 6.5%) |
| Local subsidiaries | 9%(FY23: 22%) | 91%(FY23: 90%) | 11%(FY23: 10%) |
| MCB Seychelles | 14%(FY23: 19%) | 88%(FY23: 83%) | 11%(FY23: 17%) |
| MCB Madagascar | 33%(FY23: 23%) | 88%(FY23: 91%) | 16%(FY23: 13%) |
| MCB Maldives | 41%(FY23: 36%) | 72%(FY23: 72%) | 42%(FY23: 39%) |
| MCB Group | 12%(FY23: 16%) | 92%(FY23: 93%) | 8%(FY23: 8%) |
1 Figures reflect FY24, as at 30 June 2024.
2 We define 'permanent employees' as the number of employees employed on a full-time basis for an undetermined time period.
3 We define 'fixed-term employees' as the number of employees employed on either a full-time or part-time basis, with a pre-determined work agreement varying from 1 year to more than 10 years.
Supporting our communities
MCB Forward Foundation
The MCB Forward Foundation (MCBFF) is our corporate social responsibility arm and drives our contribution to support social inclusion and well-being, with a focus on empowering people and reducing societal inequalities. In FY24, MCBFF continued to fund projects that align to the Group's purpose and values and support our commitment to the SDGs.
Each project bears key performance indicators that align with the SDG targets. This is underpinned by ongoing and frequent engagement with our key stakeholders and partners to ensure projects are progressing as planned and achieving our desired outcomes. In FY24, MCBFF spent Rs 57.4 million¹ (FY23: Rs 73 million) in 22 projects (FY22: 30), 19 of which are ongoing.
MCBFF prioritises 11 of the 17 SDGs and allocates a percentage of our funds to each goal:
Responsible behaviour is fundamental to secure our stakeholders' trust. Over the years, we have embedded corporate policies and procedures that comply with rules, relevant regulations, and codes of conduct to ensure a strong ethical culture. Our corporate values are critical in shaping strategy, and we continue to engage employees to promote ethical business practices.
Alignment with the SDGs, UNGC, UNEP FI PRB
Principles 10
Principles 3
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