Mauritian businessman and leading executive Pierre Guy Noel’s stake in Mauritius’ largest banking group, MCB Group Limited, is now worth MUR421.2 million ($9.7 million) thanks to a boost in 2021.
MCB Group is a financial services holding headquartered in Port Louis, the capital city of Mauritius. The bank operates as the most extensive financial services group on the island country through its banking and non-banking financial operations.
The bank’s operations generated profits of MUR8.24 billion ($189.2 million) in 2021, representing a 3.1-percent increase in profit over the previous year’s revenue of MUR7.99 billion ($183.5 million).
At the end of its 2021 fiscal year, its assets and shareholder funds are valued at MUR683.1 billion ($15.7 billion) and MUR72.8 billion ($1.7 billion), respectively.
Noel, who is the immediate past CEO of the financial services group, owns 0.55-percent of the company, or 1,328,642 ordinary shares. The Mauritian businessman retired as the CEO of MCB Group on Sept. 1 after reaching the retirement age of 65.
As of press time on Jan. 24, shares in the group were trading at MUR317 ($32.12), giving the bank a market capitalization of MUR76.24 billion ($1.75 billion).
At the current price, Noel’s stake is worth MUR421.2 million ($9.7 million), making him one of the wealthiest investors on the Mauritius Stock Exchange.
In the past one year, the market value of the beneficial 0.55-percent stake that he controls in the bank has risen in value by $2.42 million thanks to the 33.6-percent surge in its share price between Jan. 25, 2021 to Jan. 24, 2022.
