{"id":41343,"date":"2024-05-21T18:33:11","date_gmt":"2024-05-21T18:33:11","guid":{"rendered":"https:\/\/www.africa-press.net\/mauritius\/all-news\/mcb-group-reports-profits-of-rs-12-4-billion"},"modified":"2024-05-21T20:14:09","modified_gmt":"2024-05-21T20:14:09","slug":"mcb-group-reports-profits-of-rs-12-4-billion","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mauritius\/all-news\/mcb-group-reports-profits-of-rs-12-4-billion","title":{"rendered":"MCB Group Reports Profits Of Rs 12.4 Billion"},"content":{"rendered":"

Africa-Press – Mauritius. <\/strong><\/span>The MCB Group has delivered a solid performance for the nine months to March 31, 2024, recording net profits of Rs 12.4 billion, up 14.6% on the corresponding period last year. This performance is attributable to the resilience of local operations, as well as an increased contribution from the banking division\u2019s international operations.<\/p>\n

The Group\u2019s net banking income rose by 20.8% to Rs 27.8 billion. Net interest income rose by 24.9%, driven by improved margins on assets held in foreign currencies and on rupee-denominated investment securities, as well as growth in the loan portfolio. Non-interest income rose by 14.0% on the back of improved revenues from trade finance, payments and wealth management services.<\/p>\n

Despite the volatile environment, the MCB Group is forecasting a solid performance for the current financial year.<\/p>\n

According to Jean Michel Ng Tseung, Chief Executive \u2013 MCB Group Ltd, MCB is in good shape: \u201cMCB Group achieved a solid performance for the 9 months to March 2024, with net profits up 14.6% to Rs 12.4 billion. In addition to interest rates remaining high overall, our revenues were positively impacted by sustained growth in our banking division\u2019s activities.\u201d<\/p>\n

For More News And Analysis About Mauritius<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mauritius. The MCB Group has delivered a solid performance for the nine months to March 31, 2024, recording net profits of Rs 12.4 billion, up 14.6% on the corresponding period last year. This performance is attributable to the resilience of local operations, as well as an increased contribution from the banking division\u2019s international […]<\/p>\n","protected":false},"author":84,"featured_media":41342,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,245,241],"class_list":["post-41343","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-mauritius","tag-mauritius"],"yoast_head":"\nMCB Group Reports Profits Of Rs 12.4 Billion - Mauritius<\/title>\n<meta name=\"description\" content=\"The MCB Group has delivered a solid performance for the nine months to March 31, 2024, recording net profits of Rs 12.4 ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mauritius\/all-news\/mcb-group-reports-profits-of-rs-12-4-billion\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MCB Group Reports Profits Of Rs 12.4 Billion\" \/>\n<meta property=\"og:description\" content=\"The MCB Group has delivered a solid performance for the nine months to March 31, 2024, recording net profits of Rs 12.4 ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mauritius\/all-news\/mcb-group-reports-profits-of-rs-12-4-billion\" \/>\n<meta property=\"og:site_name\" content=\"Mauritius\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-21T18:33:11+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-21T20:14:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2024\/05\/sm_1716305715.036029.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"750\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/mcb-group-reports-profits-of-rs-12-4-billion#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/mcb-group-reports-profits-of-rs-12-4-billion\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"MCB Group Reports Profits Of Rs 12.4 Billion\",\"datePublished\":\"2024-05-21T18:33:11+00:00\",\"dateModified\":\"2024-05-21T20:14:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/mcb-group-reports-profits-of-rs-12-4-billion\"},\"wordCount\":199,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/mcb-group-reports-profits-of-rs-12-4-billion#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2024\/05\/sm_1716305715.036029.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mauritius\",\"Mauritius\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mauritius\/all-news\/mcb-group-reports-profits-of-rs-12-4-billion#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/mcb-group-reports-profits-of-rs-12-4-billion\",\"url\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/mcb-group-reports-profits-of-rs-12-4-billion\",\"name\":\"MCB Group Reports Profits Of Rs 12.4 Billion - 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