Mcb Group
MCB Group Limited is a public company limited by shares incorporated on 5 August 2013 in the Republic of Mauritius, registered under business registration number C13117853, with its registered office at Sir William Newton Street, Port Louis. Its status on file with the Stock Exchange of Mauritius and in the registry data synced to this profile is Active.
MCB Group Limited acts as the ultimate holding company of the MCB Group, a regional banking and financial-services group whose banking heritage traces to 1838 through its principal operating subsidiary, The Mauritius Commercial Bank Ltd. Per its FY2025 Annual Report, the Group organises its activities into three clusters – Banking, Non-Banking Financial and Other Investments – covering retail and business banking, private wealth management, corporate and institutional banking, investment banking, leasing, factoring and microfinance, delivered through subsidiaries and associates in Mauritius, Madagascar, Seychelles and the Maldives, with representative or advisory offices in Reunion Island, Mayotte, Paris, Johannesburg, Nairobi, Lagos and Dubai.
MCB Group Limited’s ordinary shares trade on the Official Market of the Stock Exchange of Mauritius under ticker MCBG.N0000 (ISIN MU0424N00005), having replaced The Mauritius Commercial Bank Ltd on the exchange on 5 April 2014; the company also has preference shares listed separately. As at 30 June 2025, it reported a market capitalisation of approximately Rs 112 billion, around 36% of the SEMDEX (excluding foreign, GBL and international constituents), a base of 23,637 ordinary shareholders holding 259,423,871 ordinary shares, and 94,271,057 preference shares in issue, according to its FY2025 Annual Report.
For the financial year ended 30 June 2025, MCB Group Limited reported earnings per share of Rs 70.13 and declared a total dividend of Rs 25.50 per ordinary share, and its Board approved a new “Vision 2030” strategic plan during the year, per the FY2025 Annual Report’s corporate governance disclosures. The same report records that the Board approved the disposal of a stake in Societe Generale Mocambique S.A. during FY2024/25, and the Group’s banking business was named African Bank of the Year 2024 by The Banker.
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Shareholders
Shareholders of MCB Group Limited
MCB Group Limited is a Stock-Exchange-of-Mauritius-listed public company with a broad ownership base of 23,637 ordinary shareholders as at 30 June 2025, holding 259,423,871 ordinary shares (issued capital of Rs 9.5 billion), according to its FY2025 Annual Report. Individuals account for 94.8% of shareholders by number but only 46.2% of shares held; pension and provident funds, investment and trust companies, insurance companies and other corporate bodies hold the remaining 53.8%. The ten largest disclosed institutional shareholders as at 30 June 2025 are the National Pensions Fund (18,630,338 shares, 7.2%), State Insurance Company of Mauritius Ltd (11,752,307 shares, 4.5%), Swan Life Ltd (10,002,429 shares, 3.9%), Promotion and Development Limited (6,064,500 shares, 2.4%), BNYM SA/NV A/C Eastspring Investments SICAV-FIS (3,961,800 shares, 1.5%), The Mauritius Commercial Bank Ltd Superannuation Fund (3,569,213 shares, 1.4%), National Savings Fund (2,482,147 shares, 1.0%), SSL C/O SSB Boston A/C Russell Investment Company PLC FN: NAS5 (2,306,067 shares, 0.9%), MUA Life Ltd (2,172,485 shares, 0.8%) and IBL Pension Fund (2,021,124 shares, 0.8%). Foreign shareholding accounted for around 8% of the total. The company also had 94,271,057 preference shares in issue as at 30 June 2025, with holders able to convert them into ordinary shares in scheduled windows.
Data availability
Major shareholders only. MCB Group Limited’s Annual Report discloses only its ten largest institutional shareholders by name, alongside aggregate breakdowns by shareholding size and investor category; it does not itemise the remaining approximately 23,627 shareholders individually. No shareholder is disclosed at a level that would identify a natural-person ultimate beneficial owner, and the National Pensions Fund and the other listed institutional holders are themselves regulated pooled-investment or state-fund vehicles rather than individuals, so no ultimate beneficial owner can be identified from the information reviewed.
Sources
- MCB Group Limited, Annual Report 2025, “Shareholder information” and “Our corporate profile” sections (data as at 30 June 2025), mcbgroup.com
- Stock Exchange of Mauritius, company snapshot for MCB Group Limited, stockexchangeofmauritius.com
Officers
Directors and officers of MCB Group Limited
As at 30 June 2025, the Board of MCB Group Limited comprised 11 directors: two executive directors, one non-executive director and eight independent non-executive directors, according to the FY2025 Annual Report. The Chairperson is Jayananda Nirsimloo (Independent Non-Executive Director since November 2022, Chairperson since November 2024), and the Group Chief Executive is Jean Michel Ng Tseung (director since November 2016, Executive Director since September 2021). The other current directors are Dipak Chummun (Group Chief Finance Officer and Executive Director since September 2024), Constantine Chikosi, Stephen Davidson, Cedric Jeannot, Yvan Legris, Georges Michael David Lising, Maya Makanjee, Anna Margaretha Roets and San T Singaravelloo. The Company Secretary is MCB Group Corporate Services Ltd, represented by Marivonne Oxenham. Nationality is officially disclosed for every director in the Annual Report: six are Mauritian, two South African (non-resident), and one each British, French and Zimbabwean (all non-resident).
Recent officer changes
- Chairperson: Jayananda Nirsimloo was appointed Chairperson effective November 2024, succeeding Didier Harel, who retired as an Independent Director after almost nine years on the Board. Source: MCB Group Limited, FY2025 Annual Report, Corporate governance report.
- New appointment: Dipak Chummun joined the Board as Group Chief Finance Officer and Executive Director in September 2024. Source: MCB Group Limited, FY2025 Annual Report.
- New appointment / departure: Anna Margaretha Roets joined the Board as an Independent Non-Executive Director in June 2025, and Yvan Legris joined as Non-Executive Director in November 2024 in replacement of Jean-Philippe Coulier, who left the Board in November 2024 alongside Karuna Bhoojedhur-Obeegadoo. Source: MCB Group Limited, FY2025 Annual Report.
Data availability
Full for current directors: MCB Group Limited’s Annual Report discloses appointment dates, committee memberships, qualifications and officially stated nationality for every serving director, drawn from the company’s own governance disclosures rather than inferred from names or residence. This profile reflects the Board as constituted at the company’s financial year end, 30 June 2025; the company’s own website listed ten of these eleven directors as at the September 2026 research date, omitting Constantine Chikosi, which may indicate a subsequent change in Board composition that could not be independently confirmed from a primary source during this review.
Sources
- MCB Group Limited, Annual Report 2025, “Corporate governance report” (Directors’ profiles, Board attendance), mcbgroup.com
- MCB Group Limited, official website, Board page, mcbgroup.com/board (accessed September 2026)
Group Structure
Group structure of MCB Group Limited
MCB Group Limited is the ultimate holding company of the MCB Group and is not itself controlled by any disclosed parent; its ordinary shares are widely held on the Stock Exchange of Mauritius rather than by a single corporate owner. According to the “Our clusters and entities” chart in its FY2025 Annual Report (data as at 30 June 2025), MCB Group Limited holds its banking investments through a wholly owned intermediate subsidiary, MCB Investment Holding Ltd, which in turn wholly owns the Group’s principal operating subsidiary, The Mauritius Commercial Bank Ltd, plus a number of overseas banking subsidiaries and one banking associate. MCB Group Limited also holds a range of non-banking-financial and other-investment subsidiaries and associates directly. The Group’s disclosed structure spans Mauritius, Madagascar, Seychelles, the Maldives, Reunion Island, Mayotte, France and Luxembourg, among others.
Verified corporate relationships
| Entity | Country | Registration number | Relationship | Ownership | Status | Information date |
|---|---|---|---|---|---|---|
| MCB Investment Holding Ltd | Mauritius | Not disclosed | Direct subsidiary | 100% | Active | 30 Jun 2025 |
| The Mauritius Commercial Bank Ltd | Mauritius | Not disclosed | Indirect subsidiary (via MCB Investment Holding Ltd) | 100% | Active | 30 Jun 2025 |
| The Mauritius Commercial Bank (Madagascar) SA | Madagascar | Not disclosed | Indirect subsidiary | 80% | Active | 30 Jun 2025 |
| The Mauritius Commercial Bank (Seychelles) Ltd | Seychelles | Not disclosed | Indirect subsidiary | Ownership percentage not disclosed | Active | 30 Jun 2025 |
| MCB (Maldives) Private Ltd | Maldives | Not disclosed | Indirect subsidiary | Ownership percentage not disclosed | Active | 30 Jun 2025 |
| Banque Francaise Commerciale Ocean Indien | Reunion (France) | Not disclosed | Associate (banking) | 49.99% | Active | 30 Jun 2025 |
| MCB Capital Markets Ltd | Mauritius | Not disclosed | Direct subsidiary | 100% | Active | 30 Jun 2025 |
| MCB Equity Fund Ltd | Mauritius | Not disclosed | Direct subsidiary | 100% | Active | 30 Jun 2025 |
| Fincorp Investment Ltd | Mauritius | Not disclosed | Direct subsidiary | 57.73% | Active | 30 Jun 2025 |
| MCB Real Assets Ltd | Mauritius | Not disclosed | Direct subsidiary | 100% | Active | 30 Jun 2025 |
| MCB Institute of Finance Ltd | Mauritius | Not disclosed | Direct subsidiary (being phased out per the Group’s strategic review) | 80% | Active | 30 Jun 2025 |
| Credit Guarantee Insurance Co. Ltd | Mauritius | Not disclosed | Associate | 40% | Active | 30 Jun 2025 |
Recent structural changes
- During FY2024/25, the Board of MCB Group Limited approved the disposal of a stake in Societe Generale Mocambique S.A. Source: MCB Group Limited, FY2025 Annual Report, Corporate governance report (Board focus areas).
- CM Special Opportunities Ltd, a subsidiary of MCB Capital Markets Ltd, was incorporated in November 2024. Source: MCB Group Limited, FY2025 Annual Report.
- MCB Shared Services Ltd was incorporated in December 2024 as a new Group entity within the Other Investments cluster. Source: MCB Group Limited, FY2025 Annual Report.
Data availability
Partial. MCB Group Limited’s Annual Report names its principal subsidiaries and associates with ownership percentages for most entries, but registration numbers are not stated for any Group entity in the sources reviewed, and some ownership percentages (for example, MCB (Maldives) Private Ltd and The Mauritius Commercial Bank (Seychelles) Ltd) are shown in the source chart without an accompanying percentage figure legible in this review.
Sources
- MCB Group Limited, Annual Report 2025, “Our corporate profile” (Our clusters and entities) and “Administrative information”, mcbgroup.com
- MCB Group Limited, Annual Report 2024, “Our corporate profile” and “Administrative information”, mcbgroup.com
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Frequently Asked Questions
What is MCB Group Limited?
MCB Group Limited is a public company limited by shares incorporated in the Republic of Mauritius, acting as the ultimate holding company of the MCB Group, an integrated banking and financial-services group.
Where is MCB Group Limited registered and what is its registration number?
MCB Group Limited is registered in the Republic of Mauritius under business registration number C13117853, with its registered office at Sir William Newton Street, Port Louis.
When was MCB Group Limited incorporated?
According to the company's Stock-Exchange-of-Mauritius-filed prospectus, MCB Group Limited was incorporated on 5 August 2013 as part of a corporate restructuring that separated Mauritius Commercial Bank's banking and non-banking operations.
Is MCB Group Limited publicly listed?
Yes. MCB Group Limited's ordinary shares trade on the Official Market of the Stock Exchange of Mauritius under ticker MCBG.N0000 (ISIN MU0424N00005); they replaced Mauritius Commercial Bank on the exchange on 5 April 2014.
Who are MCB Group Limited's largest shareholders?
As at 30 June 2025, the largest disclosed shareholder was the National Pensions Fund with 7.2% of ordinary shares, followed by State Insurance Company of Mauritius Ltd (4.5%) and Swan Life Ltd (3.9%); MCB Group Limited discloses only its ten largest institutional shareholders, not its full shareholder register.
Who is the Chairperson of MCB Group Limited?
Jayananda Nirsimloo has been Chairperson since November 2024, having served as an Independent Non-Executive Director since November 2022.
Who is the Group Chief Executive of MCB Group Limited?
Jean Michel Ng Tseung is the Group Chief Executive, having become an Executive Director in September 2021 after serving as a Non-Executive Director since November 2016.
What is MCB Group Limited's principal operating subsidiary?
The Mauritius Commercial Bank Ltd, held indirectly through the wholly owned MCB Investment Holding Ltd, is the Group's main banking subsidiary.
Is MCB Group Limited part of a wider corporate group?
MCB Group Limited is itself the ultimate holding company of the MCB Group; no parent company is disclosed above it, and its shares are widely held by institutional and individual investors rather than by a single controlling shareholder.
In which countries does the MCB Group operate?
Per its FY2025 Annual Report, the Group's disclosed subsidiaries, associates and offices span Mauritius, Madagascar, Seychelles, the Maldives, Reunion Island, Mayotte, France and Luxembourg, with commercial hubs in South Africa, Kenya, Nigeria and the United Arab Emirates.
Is Mcb Group still an active company?
Mcb Group's status on Company Data Enrichment is listed as active.
What is Mcb Group's registered address?
The registered address on file for Mcb Group is Port Louis, Mauritius.
Can Zavia monitor changes to Mcb Group's ownership over time?
This profile reflects a point-in-time snapshot from Company Data Enrichment. Zavia's monitoring API can track changes to Mcb Group's registered shareholders, officers, and group structure going forward, flagging updates as they're filed rather than requiring a manual recheck.
Can I access Mcb Group's data through an API?
Yes. Zavia's API connects directly to official government ownership registries across 195 countries and territories, including Mauritius, so records like Mcb Group's registration, shareholder, UBO, and group-structure data can be queried programmatically instead of viewed one page at a time.
Where does this company information come from, and how current is it?
This record is sourced directly from Company Data Enrichment and was last synced on 11 August 2026.