BCP: When Private Banking blends efficiency with performance

Recently established in Mauritius, Banque Centrale Populaire (BCP) group intends to reinforce the foundations of the banking institution on the island. Performance and innovation are the core values of the Private Banking segment of its Mauritian subsidiary, BCP Bank (Mauritius) – formerly known as Banque des Mascareignes. With an unbridled passion, Virginie Constant, Director Private Banking, shares her views about the perks of a “made in BCP Bank (Mauritius)” Private Banking service and the blossoming union with BCP Group… With relationships as the central pivot of our business, each individual strength of our dedicated team members, combined with a passion for banking, yield premium services to our customers.

Why did Banque Centrale Populaire choose to move to Mauritius?

BCP group is the sixth largest banking group in Africa in terms of capital equity. Present in 14 countries in Africa and 14 others around the world, it is also the banking leader in Morocco. Being the only North and West African Bank present in Mauritius, BCP intends to support the dynamics of opening up to Africa and channel investment flows from Asia, especially from China and India, towards Africa.

Ideally positioned, along with a remarkable economy and political stability, Mauritius is recognised as a strategically located financial corridor, with undeniable benefits which make it appealing to investors.

What are the new services offered by BCP Bank (Mauritius)?

With the support of BCP group, we will soon offer new investment products, as well as digital and e-banking services dedicated to the HNWI. This clientele which has very specific needs also requires, and expects, customised support… We pride ourselves in accompanying our customers in their projects from end to end ; we understand their busy schedules, sometimes being between two planes, and help them optimise their time when it comes to banking issues. And listening is essential to delivering top-notch quality services. Being bilingual is a definite advantage, just as the flexibility of our teams. Our role is not only to assist our customers but also to advise on and facilitate investment decisions. We see a growing trend of Private Banking clients resorting to patrimonial structures – special purpose vehicles, trusts, holdings, family offices and so on – to facilitate succession on one hand and help in their tax planning on the other. Thanks to the expertise and high-quality profiles of our Private Banking team, we can identify the potential of a project and bring real value-add to our clients, whether it be financing the acquisition of a property under the PDS scheme or facilitating an expatriate retiring or a non-resident investing in Mauritius. With the ever-increasing mobility of the Private Banking clientele, we very often deal with our clients remotely.

In this context, being part of a banking group with solid fundamentals and an international coverage is an advantage that is put to good use. Not to mention our support teams, who spare no efforts to ensure that our clients’ banking operations run smoothly.

How do your Private Banking services differ from your competitors?

With relationships as the central pivot of our business, each individual strength of our dedicated team members, combined with a passion for banking, yield premium services to our customers.

What is your standpoint on a Private Banking service, and how do you establish a relationship of trust with your customers?

The banking relationship is one which is built and nurtured; it is a partnership based on trust. Today our customers’ situations are, more than often, complex ones. Each case is unique. We devote time to know our clients and get acquainted with their needs to be able to serve them in a sustainable way, while offering innovative solutions. We effectively work with the whole bank to ensure that service delivery is up to the level our Private Banking clientele legitimately expects. We aim at delivering a “go the extra-mile” service to our customers, which can also lead us to working with an external legal or tax advisory firm, for example. Innovation and performance, which are two of the Bank’s values, are truly at the centre of our approach.

In terms of figures, you have an excellent positioning on the Private Banking market. How do you envision the future?

We are still at the prelude stage, and yet our figures are indeed very promising… We wish to increasingly extend our services to an international clientele, whilst opening up to the Pan-African diaspora. This move is without doubt very ambitious. However, the development perspectives of our continent, combined with the influence of BCP group – its vision for the African continent and beyond – encourage us in this sense. With Mauritius as a stepping stone, we can aim much higher. And being part of this great adventure is an exceptional motivation. In today’s fast changing technological era and with extremely mobile customers, we also wish to enrich our digital proposition. We want to embody an avant-gardist bank with the human touch as a reminder that