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Mauritius MCB Group full-year pre-tax profit up 21 pct
September 30, 2016 / 6:01 AM / a year ago

Mauritius MCB Group full-year pre-tax profit up 21 pct

PORT LOUIS, Sept 30 (Reuters) - MCB Group’s pre-tax profit for the full year to June rose 21 percent to 8.34 billion rupees ($236 million), driven by higher net interest income, it said on Friday.

MCB, the biggest bank by market value in East Africa and the Indian Ocean region, said net interest income rose 9 percent to 8.89 billion rupees on the back of increased revenue from investments in government securities.

Earnings per share rose from 24.04 rupees a year earlier to 27.82 rupees on June 20, MCB said in a statement.

“Whilst the retail segment is anticipated to sustain its growth momentum, further expansion of credit will be largely dependent on regional economic performance and on the implementation of public and private sector projects in the wake of recent budgetary measures,” the group said.

Moderate growth is expected in operating profits for the coming year, it said.

Shares of MCB Group opened at 218 rupees on Friday. ($1 = 35.3500 Mauritius rupees) (Reporting by Jean Paul Arouff; Editing by Katharine Houreld and Sunil Nair)

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