Mauritius-based MCB Group posts $315 million profit as earnings climb 15%

Mauritius-based financial powerhouse MCB Group delivered a resilient start to its 2026 fiscal year, posting a profit of MUR14.45 billion ($314.7 million), up 15 percent from MUR12.53 billion ($272.9 million) in the first half of 2025. The results reflect the group’s steady performance across its banking, non-banking financial, and investment operations, despite global market uncertainties.

Profit before tax climbs, tax rises

The profit before tax increase comes as operating income climbed 7.7 percent, rising from MUR21.3 billion ($463.9 million) to MUR22.9 billion ($498.8 million). Net interest income grew 4.1 percent, underpinned by expansion of MCB’s interest-earning assets. Fee and commission income increased 6 percent, buoyed by stronger performance in payments and wealth management services. Trading revenue also surged 47.9 percent, supported by higher earnings from foreign exchange and fixed income activities.

Income tax expenses rose sharply to MUR3.8 billion ($82.9 million), reflecting a higher effective rate of 26.3 percent, up from 19.7 percent last year following national budget measures. Despite this, profit attributable to ordinary shareholders grew 5.5 percent to MUR10.56 billion ($230 million), up from MUR10.02 billion ($218.2 million), with 58 percent of earnings sourced from overseas operations.

Assets exceed $23 billion, retained earnings climb $2.1 billion

Founded in 1838 as a single banking unit, MCB Group has expanded into a major financial services holding with approximately 4,900 employees across more than 50 countries. Its operations are organized into three business clusters—banking, non-banking financial services, and other investments—spanning markets in Madagascar, Seychelles, Maldives, France, Reunion Island, Mayotte, South Africa, Nigeria, Kenya, and the United Arab Emirates. Correspondent banking relationships further support its international reach.

Strong earnings also strengthened MCB Group’s balance sheet. Total assets grew to MUR1.09 trillion ($23.7 billion) from MUR1.01 trillion ($22 billion), equity rose to MUR130.37 billion ($2.83 billion) from MUR116.15 billion ($2.52 billion), and retained earnings climbed to MUR99.76 billion ($2.17 billion) from MUR88.76 billion ($1.93 billion). The results underscore the group’s ability to support trade, energy, and innovation across Africa while steadily expanding its global footprint.