Mauritius Commercial Bank H1 pretax profit up 12% - CNBC Africa

Mauritius Commercial Bank H1 pretax profit up 12%

Southern Africa

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MCB, the biggest bank by market value in East Africa and the Indian Ocean region. PHOTO: MCB

This was helped by rising fees and commissions, the bank said on Friday.

MCB, the biggest bank by market value in east Africa and the Indian Ocean region, said it expected its full-year results to be higher than those of the same period last year, despite subdued economic growth in Mauritius.

Net fee and commission income grew by 9.3 per cent to 1.34 billion rupees, supported by a jump in revenues linked to regional trade financing, loan facilities and cards related activities, the bank said in a statement.

Earnings per share rose to 10.32 rupees from 9.40 rupees a year ago.

Shares in MCB closed higher to 212.50 rupees from 212 rupees before the results were released.

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