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Mauritius Banks

Published on by mori

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The following banks are the most important Mauritius banks: Banque des Mascareignes, AfrAsia Bank, Deutsche Bank, Standard Chartered Bank, Standard Bank, Bank One, Bramer Banking Corporation, Bank of Baroda, HSBC, Barclays Bank, The State Bank of Mauritius and The Mauritius Commercial Bank. MCB (Mauritius Commercial Bank) is the most important of these Mauritius banks.

It is the largest and the oldest on island, dating from 1838. This bank is the oldest in the Sahara’s South and the oldest of the Commonwealth that kept the original name. The MCB holding structure has two fold strategy translated in financial services via associated companies and local subsidiaries and regional expansion via foreign subsidiaries. The one of the main Mauritius banks has local network with 40 branches and over 150 automatic teller machines.

Its division provides a big range of services and products, having business with offshore and local companies and finances different projects. The bank provides traditional banking and exclusive services to top rated individuals. This is one of the Mauritius banks with offices in South Africa, Maldives, Mozambique, Madagascar and Seychelles via representative offices. The bank also operates in Paris, Mayotte and Reunion, via Banque Francaise Commerciale Ocean Indien, a partner of Societe Generale.

The Mauritius bank has participations in risk sharing arrangements and cross border syndication, the international divisions providing trade facilitations, e-commerce enablers and project financing. There are SWIFT agreements between MCB and more than 1,600 partners all over the world. MCB Capital Markets offers a large range of services related to investments via subsidiaries.

MCBIM is among the Mauritius banks with specialists in investment management for institutional clients and corporate clients, with license given by the FSC (Financial Services Commission), the regulator of the non-bank services area on island under the FSD Act 2001’s14 section -to conduct advisory services in the investments area and in asset management.

In March 2010, the bank had an 8.6 billion Rs total. A joint venture between MCBCM and GHF Holdings is seen in the future, the latter mentioned having trading offices in Hungary, China, India, Israel, New York and London. The Mauritius bank is involved in all kind of trading activities in Europe and United States basically but all over the world also. The group trades on world’s 5 principal future exchanges. MCB Group is one of the Mauritius banks with representations on Foursquare, Youtube, Linkedln, Twitter and Facebook.

The State Bank of Mauritius is on the second place on the largest Mauritius banks top, with a 25% domestic banking assets. In June 2011, the total assets valuation of this bank was about $3.34 billion (95.7 billion in the Mauritian money), with a equity of shareholders of $557 million (16 billion in the Mauritian money).

The bank and its subsidiaries business in India, Madagascar and Mauritius forms the SBM group with stock listed on Mauritius Stock Exchange and owned by about 17.000 international and domestic shareholders. This is one of the Mauritius banks with about 1.200 employees and 340.000 clients through 48 units.