MCB Madagascar is a commercial bank in Madagascar. It is a member of the Mauritius Commercial Bank Group of companies headquartered in Port Louis, Mauritius. It was formerly known as MCB Madagascar.
History
The bank was established in 1992[1] 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 (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.
| Rank | Name of owner | Percentage ownership |
|---|---|---|
| 1 | MCB Group | 80 |
| 2 | Banque Française Commerciale Océan Indien | 10 |
| 3 | FIARO | 5 |
| 4 | Société Manofi | 5 |
| Total | 100 |
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