Finance: MCB, a major Mauritian bank, considers expansion into Côte d’Ivoire

The Mauritius Commercial Bank (MCB), the oldest and largest banking group in Mauritius, is planning to establish a presence in Côte d’Ivoire. A delegation from Mauritius, led by the Honorary Consul of Mauritius in Côte d’Ivoire, Frédérique Lam, was received on June 18 in Abidjan by the Minister of State for Foreign Affairs and International Cooperation, Nialé Kaba.

During the meeting, the delegation presented a project to open a representative office of the Mauritius Commercial Bank (MCB) in Côte d’Ivoire, with the aim of strengthening economic and financial cooperation between the two countries. The Minister of State welcomed the initiative and reaffirmed the Ivorian government’s readiness to host foreign investors, in compliance with national regulatory frameworks.

MCB, a major banking institution

MCB, the leading banking group in Mauritius by assets, is already present in several African countries. The bank reported strong annual results for the financial year ending June 30, 2025, with net profit surpassing 18 billion Mauritian rupees, at a time when it is also exploring expansion into Côte d’Ivoire.

MCB Group recorded a net profit attributable to ordinary shareholders of 18.065 billion rupees (Rs), up 12.6% compared to 16.045 billion the previous year. Net banking income increased by 13.9% to 42.2 billion rupees.

This performance was driven by two main factors. Net interest income rose by 11.6%, supported by balance sheet growth and improved liquidity margins in rupees. Non-interest income jumped by 18.3%, driven mainly by trade finance activities, foreign exchange operations, and fees generated through MCB Capital Markets.

A strong balance sheet exceeding one trillion rupees

The group’s total assets crossed the symbolic one-trillion-rupee mark for the first time, reaching 1,007 billion (+7.3%), compared to 939 billion in June 2024. Customer deposits rose by 7.9% to 726 billion, while customer loans slightly declined by 1.1% to 413 billion.

The group’s financial strength is reflected in a regulatory capital adequacy ratio of 22.0%, up by 148 basis points, and a non-performing loan (NPL) ratio reduced to 3.0%, compared to 3.1% a year earlier.

Return on equity (ROE) stood at 16.4%, slightly down by 27 basis points, impacted by the increase in the capital base. The cost-to-income ratio reached 37.4%, up by 64 basis points, reflecting investments in the group’s transformation.

Higher dividends, rewarded shareholders

Based on these results, the board of directors proposed a dividend of 25.50 rupees per share for the financial year, an increase of 10.9%. Earnings per share amounted to 70.13 rupees (+10.2%).