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Mauritian bank MCB Group's profit rises in its first quarter
November 14, 2017 / 2:45 PM / 4 days ago

Mauritian bank MCB Group's profit rises in its first quarter

PORT LOUIS, Nov 14 (Reuters) - Mauritian lender MCB Group Ltd said on Tuesday its pretax profit rose 0.9 percent to 2.07 billion rupees ($60.79 million) in its first quarter ended September, helped by higher net interest income.

MCB, which also operates in Madagascar, the Maldives, the Seychelles, Mayotte, Mozambique and Reunion, reported a 5.7 percent increase in net interest income to 2.46 billion rupees during the quarter, the bank said in a statement.

It attributed the growth in net interest income mainly to higher investment in government securities.

“Locally, the high liquidity conditions should continue to weigh down on our operations,” it said. Earnings per share rose to 7.06 rupees from 6.70 rupees in the same quarter in 2016. ($1 = 34.0500 Mauritius rupees) (Reporting by Jean Paul Arouff; Editing by Duncan Miriri and Jane Merriman)

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