The MCB Group has announced its financial results for the year ending June 30, 2026, showcasing a strong performance. The company's pre-tax profit increased by 20.3% to reach Rs 27.6 billion. This growth is attributed to various factors, including the implementation of new fiscal measures at the beginning of the financial year, which led to a higher effective tax rate.
The net profit attributable to shareholders stood at Rs 20.1 billion, representing an 11.3% increase from the previous year. The improvement in the quality of its credit portfolio was also highlighted, with a decrease in doubtful debts and the cost of risk. This positive trend indicates a more stable financial position for the company.
Despite the uncertain international economic environment, the MCB Group remains optimistic about its prospects. The company acknowledges that geopolitical tensions, particularly in the Middle East, continue to impact confidence, trade, and investments. Additionally, the rise in commodity prices and transportation costs is sustaining inflationary pressures, contributing to relatively restrictive monetary conditions.
In Africa, the MCB Group expects growth to remain resilient, but notes that the outlook is exposed to a more challenging external environment and higher financing costs. Domestically, the company anticipates a mixed economic scenario, with a potential slowdown in tourist arrivals and rising inflation. However, it expects the Mauritian economy to maintain a certain level of resilience.
In response to these challenges, the MCB Group plans to continue executing its strategy, focusing on the solidity of its operations while maintaining prudent risk and capital management. The company also emphasizes its significant contribution to the Mauritian economy, with a tax contribution of Rs 6.8 billion, making it the largest private contributor to state revenues.
Furthermore, the MCB Group highlights its commitment to supporting local businesses, with 70% of its suppliers based in Mauritius. This approach aligns with its policy of promoting a responsible and local supply chain. According to Jean Michel Ng Tseung, Chief Executive of the MCB Group, the company's net profit of Rs 20.1 billion demonstrates its resilience and ability to capitalize on opportunities in a rapidly changing environment.
The MCB Group intends to pursue the implementation of its strategy, strengthening its presence in key markets and accelerating investments in technology, energy transition, regional integration, and sustainable development. This forward-looking approach aims to position the company for long-term success while navigating the complexities of the current economic landscape.
Key points
- MCB Group's pre-tax profit increases 20.3% to Rs 27.6 billion.
- Net profit attributable to shareholders rises 11.3% to Rs 20.1 billion.
- The company maintains a strong presence in Mauritius, contributing Rs 6.8 billion to state revenues.
