MCB Madagascar

MCB Madagascar SA

Company type	Private company
Industry	Finance
Founded	1992
Headquarters	MCB Head Office, Novotel Business Center, Alarobia, Antananarivo, Madagascar
Products	Banking
Parent	MCB 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

Rank	Name of Owner	Percentage Ownership
1	MCB Group	80
2	Banque Française Commerciale Océan Indien	10
3	FIARO	5
4	Société Manofi	5
	Total	100

See also

• Mauritius Commercial Bank Ltd
• MCB Group
• List of banks in Madagascar

References

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

External links

• History of MCB Madagascar as Union Commercial Bank
• MCB Madagascar Homepage (French)