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 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.History of Union Commercial Bank In 2007, the bank changed its name to Mauritius Commercial Bank (Madagascar) SA.UCB became MCBM in 2007
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 ownershipRank Name of ownerPercentage ownership1MCB Group802Banque Française Commerciale Océan Indien103FIARO54Société Manofi5Total100
See also Mauritius Commercial Bank Ltd MCB Group List of banks in Madagascar
References
External links History of MCB Madagascar as Union Commercial Bank MCB Madagascar homepage (French)