MCB Shines at Euromoney Awards for Excellence 2024

The Mauritius Commercial Bank (MCB) has achieved remarkable recognition at the Euromoney Awards for Excellence 2024, securing titles for ‘Best Bank in Mauritius’, ‘Best Digital Bank’, and ‘Best Bank for Corporates’.

Frédéric Papocchia, Chief Risk Officer of MCB, dedicated these prestigious awards to the bank’s clients, expressing gratitude for their continuous trust and support.

Papocchia emphasized that these accolades from a globally renowned institution like Euromoney not only highlight the bank’s commitment to quality and excellence but also affirm its strategic direction in the development of innovative products and services tailored for customers. The awards are as follows:

Best Bank in Mauritius

• Profit Before Tax: The bank reported profits before tax amounting to Rs 15.9 billion, reflecting a significant 51% increase compared to the previous year.
• Net Interest Income: There was a 24% rise in net interest income.
• Non-Interest Income: The bank also experienced a 30% growth in non-interest income.
• MCB Juice Users: In 2023, the number of MCB Juice users increased by 18%.
• Housing Loan Application: The introduction of an online application system for housing loan requests marked a significant enhancement in customer service.

Best Digital Bank

• Investments in Digital Platforms: MCB has made substantial investments in its digital banking platforms, enhancing user experience and operational efficiency.
• Record Digital Payment Activity: The bank achieved record levels of digital payment transactions.
• Transaction Growth via Juice: There was an impressive 119% increase in transactions facilitated through MCB Juice in 2023.
• Operational Efficiency: The introduction of the Backbase system significantly boosted the bank’s operational efficiency.

Best Bank for Corporates

• Launch of IB Pro Platform: MCB introduced the IB Pro platform to streamline transactions for corporate clients.
• Global Trade Platform: This new platform provides corporate clients with essential information and technical support for international trade.
• Sustainability Initiatives: The bank has actively participated in significant local and regional transactions focused on sustainable development.

Overall, MCB’s accolades at the Euromoney Awards not only underscore its financial performance but also highlight its commitment to innovation and sustainable practices in the banking sector.

Source: Defi Media