May 15, 2018 / 3:21 PM / 10 days ago

Mauritius' MCB Group's 9-month pretax profit up 3 pct

PORT LOUIS, May 15 (Reuters) - Mauritian bank MCB Group reported a 3.1 percent rise in nine-month pretax profit on Tuesday, helped by higher net interest income.

MCB, the biggest bank in Mauritius by market value, was optimistic about the financial year ahead.

“Prospects beyond (the end of the financial year on June 30) are encouraging in view of our business pipeline and signs of strengthening economic activity at the global, regional and domestic levels,” it said.

The bank reported a pretax profit of 6.64 billion rupees ($193.3 million) for the nine months through March. Net interest income rose by 8.8 percent from a year earlier to 7.81 billion rupees, reflecting strong growth in its overseas activities and, to a lesser extent, higher investments in government securities.

The bank, which also operates in Madagascar, the Maldives, the Seychelles, Mayotte, Mozambique and Reunion, said net fee and commission income rose by 7 percent in the nine months to the end of March, supported by higher revenues from lending, regional trade financing and payment activities.

Its earnings per share rose to 22.84 rupees, from 21.78 rupees a year earlier. ($1 = 34.3500 Mauritius rupees) (Reporting by Jean Paul Arouff Editing by Duncan Miriri and Susan Fenton)

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