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Major Banks in Mauritius

Mauritius has a good, reliable and dynamic banking system. The banking system is characterized by a small number of banks dominated by the Mauritius Commercial Bank. Mauritius belongs to a select group of developing countries where domestic bank assets represent approximately 100 percent of Gross Domestic Product (GDP), and contractual savings exceed 40 percent of GDP.
List of Major Banks in Mauritius
Mauritius Commercial Bank (MCB) is the oldest and largest banking institution of Mauritius. It is also the oldest banking institution south of the Sahara and one of the oldest banks of the Commonwealth to have preserved its original name .The MCB has had a tradition of being a leader adapting to changes and innovating to satisfy customer needs.
The government of Mauritius established State Bank of Mauritius in 1973 under the name State Commercial Bank. It has 42 domestic branches, and three branches in India. Banque SBM Madagascar, a fully owned subsidiary of SBM started banking operations in Madagascar in January 1998. The company operates from Antananarivo, the capital of Madagascar.
Headquartered in London, HSBC is one of the largest banking and financial services organizations in the world. In Mauritius, the HSBC Group offers an extensive range of financial services through a network of 11 branches and offices. This includes personal banking, financial planning and consumer finance, as well as commercial, corporate and institutional banking, payments and cash management, trade and export finance, treasury and financial markets, project finance, corporate finance and securities custody.
The Mauritius Post and Cooperative Bank Ltd (MPCB) stands out as one of the major banks of the island with a passion for customer service, offering a vast array of products and services encompassing Personal Banking, Corporate Banking, Trade Finance & Treasury Services.
Standard Chartered Bank(Mauritius) Limited was established in 2002 and its activities focus on international banking business, servicing Standard Chartered Bank network clients as well as international clients referred by local management companies.
Deutsche Bank (Mauritius) Limited opened for business in 1999. Deutsche Bank is a leading global investment bank with a strong and profitable private client’s franchisee.
Investec Bank (Mauritius) Ltd
Since Investec was founded in South Africa in 1974, it has expanded through a combination of substantial organic growth and a series of strategic acquisitions in South Africa, the United Kingdom and other geographies. Investec’s strategic goals are motivated by the desire to develop an efficient and integrated business on an international scale through the active pursuit of clearly established core competencies in the group’s principal business areas.

Last Updated on: 20-04-2010

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