7 Mauritian Banks in the African Top 100

Seven Mauritian banks were included in the 2012 ranking of the top 100 African banks published by the African Banker magazine in its edition of the first quarter of 2013. The Mauritius Commercial Bank leads the group, gaining the 34th to 25th place.

The classification of African Banker is established on the basis of equity (in U.S. dollars) of assets, earnings and profitability indicators and economic equity. It indicates that the MCB Group at 30 June 2011 had capital of about USD 765 million, assets valued at USD 6.1 billion. The second group local bank to be among the top 50 institutions ranked 2012 is the State Bank of Mauritius (SBM), which won four seats to point in 48th position. Equity and assets of the SBM amounted African Banker according to USD 393 million and USD 3.4 billion in mid-2011.

"The Mauritian banks continue to show good results," said African Banker, which emphasizes the group's good performance MCB and improving the ranking of the latter. In addition, three Mauritian banks have made their entry in the ranking: Standard Chartered Bank, Investec Bank and Barclays Bank. For African Banker, the presence of these banks confirms "strong growth of offshore banking Island." Financial services, according to the magazine, now account for about 15% of the Gross Domestic Product of the country, "a remarkable achievement given the deregulation carried out in 1992," does it come out. African Banker notes that 70% of foreign investment in financial services in Mauritius from the Great Peninsula but "the Mauritian government wants to attract more investments from banks in other countries in Africa."

Standard Chartered Bank is found in 59th place while Investec Bank and Barclays are ranked 64th and 75th respectively. Then follow HSBC Bank Mauritius (77th) and SBI Mauritius (95th).

2012 ranking of the top 100 banks in Africa by African Banker is dominated by five banking groups in South Africa: Standard Bank Group, FirstRand Banking Holdings, ABSA Group, Nedbank Group and Investec Bank (in order). Nigerian banks and countries in North Africa (Egypt, Morocco, Libya and Tunisia) are also prominent.

African Banker argues that the ranking in 2012 "showed that the major institutions of the continent were less efficient than medium-sized banks in smaller countries." Most African banks, according to the review, good growth in 2011-2012 but the stagnation in some areas has resulted in the accumulated equity of the top 100 institutions decreased from USD 90.7 billion to 2011 ranking of USD 87.6 billion for the 2012.