Once again, MCB has received prestigious accolades from Euromoney as part of its ‘Awards for Excellence.’ The bank has been honoured with the titles of ‘Best Bank for Digital Solutions’ and ‘Best Corporate Bank’ for Mauritius. The announcement was made on Friday, September 29th. In July, MCB also received the title of ‘Best Bank in Mauritius’ for the tenth consecutive year during these ‘Awards for Excellence.’
Regarding the reasons for awarding the title of ‘Best Bank for Digital Solutions’ to MCB, Euromoney explains that the bank has enriched the MCB Juice application with a range of new features, particularly concerning home loans and QR codes. Another noteworthy app that drew the jury’s attention was Juice Pro, aimed at entrepreneurs. Euromoney highlights that new features have also been added to Juice Pro, leading to a 25% increase in the number of users. Among the new services offered by the app are a comprehensive range of payment and transfer options, enhanced security measures, and centralized access to account statements.
Euromoney also acknowledges the establishment of the Payments department within the bank, stating, “This has led to a 50% growth in digital payments, a 20% increase in merchant acceptance of digital payments, and a 10% improvement in consumer satisfaction with digital payments.”
Another recognition bestowed upon MCB by Euromoney is the title of ‘Best Corporate Bank’ for Mauritius. Euromoney immediately highlights that “MCB has solidified its position as the largest bank for the corporate segment in Mauritius, displaying strong performance and participating in significant regional transactions.” Euromoney points out that MCB’s market share in loans and advances to businesses in Mauritius stands at approximately 45%.
Euromoney notes that the bank has been able to leverage its network in Africa to expand its involvement in financing energy projects. Concerning sustainable projects, the publication recalls that the bank acted as the lead arranger in the financing for the acquisition of Lekela Power, the largest renewable energy platform in Africa. The transaction, finalized in March of this year, amounted to USD 1.9 billion.
Alain Law Min, Chief Executive of MCB Ltd, commented: “At MCB, we are proud to once again be recognized by Euromoney, specifically for our efforts in digitization and our performance in corporate banking. MCB continues to demonstrate its capacity for innovation and its growing presence as a regional and African bank. I would like to thank all the teams for their dedication, which has led to these accolades.”
