MCB Group half-year profits reach Rs 3.6 billion

MCB Group Limited today announced its unaudited results for the first semester of FY 2017/18. Commenting on the results, Pierre Guy Noël, Chief Executive of MCB Group Ltd said: “Group profits for the half year to 31st December 2017 rose by 8.3% to reach Rs 3,644 million, with foreign-sourced earnings and non-banking operations contributing 58% thereto. Operating income grew by 7.0% to reach Rs 8,244 million. Net interest income rose by 6.9%, reflecting increased revenues linked to foreign activities of MCB Ltd and higher investment in Government securities in a context of persisting excess liquidity situation in Mauritius. Net fee and commission income rose by 4.4%, supported notably by higher revenues from financing activities within the banking cluster and from our non-banking operations.”