Mauritius Commercial Bank (Madagascar)

Mauritius Commercial Bank (Madagascar)
The Mauritius Commercial Bank (Madagascar) SA
Type Limited Liability Company
Industry Finance
Founded 1992[1]
Headquarters Rue Solombavambahoaka Frantsay 77, Antananarivo, Madagascar
Key people J.R.Hein, Chairperson
H. Fleurot CEO
Products Banking
Parent Mauritius Commercial Bank

The Mauritius Commercial Bank (Madagascar) SA (MCB Madagascar) is a commercial bank in Madagascar. It is a member of the Mauritius Commercial Bank Ltd Group of companies headquartered in Port Louis, Mauritius. It was formerly known as MCB Madagascar

Contents

History

The bank was established in 1992 by two banking entities Mauritius Commercial Bank Ltd and Standard Bank in the name of Union Commercial Bank. The bank is a fully licensed commercial bank in Madagascar, which by 2007 had established branches in Antananarivo (Antsahavola; Ankonrondrano; Ankadimbahoaka; Ambohibao, Taomasina, and Mahajanga.[2] In 2007, the bank changed its name to Mauritius Commercial Bank (Madagascar) SA.[3]

Ownership

The original shareholders were Mauritius Commercial Bank Ltd (70%), Standard Bank South Africa (10%), BFCOI (10%), FIARO (5%) and Société Manofi (5%). See table below: Currently, the shareholding may differ from the original ratios in 1992.

Mauritius Commercial Bank (Madagascar) SA Stock Ownership
Rank Name of Owner Percentage Ownership
1 Mauritius Commercial Bank Ltd 80
2 BFCOI 10
3 FIARO 05
4 Société Manofi 05

External links

See also

  • Mauritius Commercial Bank Ltd

References

  1. ^ MCBM Opened in 1992
  2. ^ History of Union Commercial Bank
  3. ^ UCB became MCBM in 2007

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