MCB Group - Financing the growth of African economies

MCB Group (MCB) has reported solid H1 results, with 25.7% y-o-y EPS growth and an annualised return on equity of 18.4% (H124: 16.6%), continuing its strong double-digit earnings growth, while maintaining a solid capital structure. Its assets have crossed the MUR1tn (£17bn) mark, consolidating its position as one of the largest banks in Africa. Mauritius Commercial Bank Ltd makes up over 90% of MCB's assets, driving its results with continued loan book expansion (up 16.4% in H125), both domestically and abroad, paired with prudent cost control (the cost to income ratio was 32.3%, down 3.1pp y-o-y). MCB distributes dividends to shareholders (which shareholders may elect to receive as a scrip dividend), with the latest payments implying a yield of 4.9%.

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