MCB Madagascar SA
TypePrivate company
IndustryFinance
Founded1992
HeadquartersMCB Head Office, Novotel Business Center, Alarobia, Antananarivo, Madagascar
ProductsBanking
ParentMCB Group

MCB Madagascar is a commercial bank in Madagascar. It is a member of the Mauritius Commercial Bank Group of companies headquartered in Port Louis, Mauritius. It was formerly known as MCB Madagascar.

History

The bank was established in 1992[1] by two banking entities, Mauritius Commercial Bank Ltd and Standard Bank, in the name of Union Commercial Bank. The bank is a fully licensed commercial bank in Madagascar, which by 2007 had established branches in Antananarivo (Antsahavola, Ankonrondrano, Ankadimbahoaka, Ambohibao), Taomasina, and Mahajanga.[2] In 2007, the bank changed its name to Mauritius Commercial Bank (Madagascar) SA.[3]

Ownership

The original shareholders were Mauritius Commercial Bank (70%), Standard Bank South Africa (10%), BFCOI (10%), FIARO (5%) and Société Manofi (5%). See table below: Currently, the shareholding may differ from the original ratios in 1992.

MCB Madagascar SA Stock Ownership
RankName of OwnerPercentage Ownership
1MCB Group80
2Banque Française Commerciale Océan Indien10
3FIARO5
4Société Manofi5
Total 100

See also

References

  1. ↑ "MCBM Opened in 1992".
  2. ↑ History of Union Commercial Bank
  3. ↑ UCB became MCBM in 2007
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