Banks are financial institutions licensed to receive deposits and make loans. There are several types of banks including retail, commercial, and investment banks. In most countries, banks are regulated by the national government or central bank.
Top 5 Banks In Mauritius
Banks in Mauritius offer conventional financial administrations, for example, investment accounts, financial records, and advances, as well as additional specific items, for example, Mastercards and venture administrations.
The biggest business banks in Mauritius are the State Bank of Mauritius, the Mauritius Commercial Bank, and the Barclays Bank of Mauritius. A few more modest business and improvement banks are likewise working in the country.
Banks are the agents for their customers, hence it have to perform various agency functions as mentioned below:
A. Transfer of Funds.
B. Periodic Collections.
C. Periodic Payments.
D. Collection of Cheques.
E. Portfolio Management.
F. Other Agency Functions.
BELOW ARE THE TOP 5 BANKS IN MAURITIUS:
1. Mauritius Commercial Bank
Address: Mauritius Commercial Bank Rose Hill, A1, Beau Bassin-Rose Hill, Mauritius
Phone: +230 202 6060
2. Absa Bank (Mauritius) Ltd
Address: Sir William Newton St, Port Louis, Mauritius
Phone: +230 207 1960
3. State Bank Of Mauritius
Address: QF4G+R4G, Beau Bassin-Rose Hill, Mauritius
Phone: +230 207 0111
4. Investec Bank (Mauritius) Limited
Address: Office 2, Ground Floor, Block 3, The Strand MU, Beau Plan Roundabout, 21001, Mauritius
Phone: +230 207 4000
5. Bank One
Address: 16 Sir William Newton St, Port Louis, Mauritius
Phone: +230 202 9200
Read Also: Main Attractions In Mauritius
Which bank is best in Mauritius for foreigners?
Top 8 Most Trusted Banks in Mauritius
State Bank of Mauritius.
Mauritius Commercial Bank.
Barclays Bank Mauritius.
Standard Chartered Bank Mauritius.
Bank of Baroda.
SBM Bank (Mauritius) Ltd.
MCB Islamic Bank Ltd.
Indian Ocean International Bank.
What is the most famous bank in Mauritius?
Mauritius Commercial Bank (MCB)
Company Profile and History. Mauritius Commercial Bank (MCB) is the oldest and largest banking institution in Mauritius. It operates a network of 42 branches and over 4,000 point-of-sale terminals across the island.
How much money do you need to open a bank account in Mauritius?
In general, a minimum deposit of Rs 1,000 to Rs 5,000 is required. Ask for confirmation from the bank you have chosen, as the amount may vary from one bank to another.