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AfricaMoney | August 20, 2017

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Euromoney crowns MCB as best Bank in Mauritius for second year in a row

Euromoney crowns MCB as best Bank in Mauritius for second year in a row

The outstanding performance of Mauritian financial service major MCB and its unwavering growth even against a backdrop of relative under-performance of the Mauritian economy has enabled the MCB to impress a vast majority of jury members at Euromoney to be crowned the“Best Bank in Mauritius” by the prestigious financial magazine.

Euromoney has accredited the MCB with the prestigious title of the“Best Bank in Mauritius” under the aegis of the Euromoney Awards for Excellence 2015.

Euromoney, a prestigious magazine specialized in banking and finance, has selected the MCB as the Best Bank in Mauritius for the second consecutive year.

The announcement was made during the course of the awards evening where the Euromoney Awards for Excellence 2015 were presented by William Hague, the former British Minister of Foreign Affairs.

The MCB was selected as the Best Bank of Mauritius by a vast majority of jury members because of its steep growth curve and outstanding performance.

According to Euromoney, in spite of the relative under-performance of the Mauritian economy, the MCB stands out, thanks to its impressive “Bank of Banks” initiative, which allows the Mauritius-headquartered bank to offer its services to more than 60 financial institutions across 20 African countries.

This initiative, which the bank has engaged in since 2011, allows MCB to position itself as the “regional hub” for financing international trade, growing its cards network and providing in-depth financial consulting services, among others.

This distinction attributed to the MCB is a part of the Euromoney Awards for Excellence, which is considered as a reference point for international financial services.

The Euromoney Awards for Excellence are granted after a detailed examination of applications sent by banks and financial institutions. This evaluation is made according to quantitative and qualitative criteria including innovation and Key Performance Indicators.

The jury awards banks and financial institutions offering the widest global capabilities, a large rangeof investment products as well as displaying genuine interest in their customers.

“After the financial crisis, we received thousands of applications from banks around the world. Our jury spent endless hours conducting interviews and consulting with each other to reach a final decision,” noted Clive Horwood, editor-in-chief, Euromoney.

“All banks that won Euromoney titles are deserving winners indeed. These awards clearly demonstrate that the post-crisis financial landscape is getting back into shape,” he concluded.

Besides the Euromoney Award for Excellence, the MCB has won several other titles since the start of the year. It was accredited with the title of “Commercial Bank of the Year, Mauritius “for the second consecutive year by prestigious financial publication “International Banker.” The MCB was also nominated under the category of “Best Customer Service Provider of the Year” for the whole of Africa. Additionally, MCB Investment Management (MCBIM) won the title of “Best Investment Management Company” ofMauritius for 2015 by World Finance magazine.

Antony Withers, Chief Executive, MCB, noted:“The choice of MCB for this prestigious award reflects the unwavering support and continuous confidence of the customers of the Bank. This support, as well as the efforts and dedication of MCB management and staff form the foundation of the great progress in performance that we have posted this past year.”

Finally, it may also be noted that the MCB is well entrenched in the CSR space in Mauritius with the MCB Forward Foundation (MCBFF) which launched a call for projects on 20 July 2015. In the 2015 edition, NGOs are invited to send their entries and the MCBFF will support projects which are motivated, innovated and development-centric, in line with MCB values.

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