Media Release
Mangaluru, Apr 12: The 111-year-old, one among the pioneers of co-operative banks of Karnataka, Mangalore Catholic co-operative Bank Ltd popularly known as MCC Bank, with 16 fully computerized branches spread across Dakshina Kannada and Udupi Districts has recorded a thumping pre-tax profit of Rs 12.20 crore at the financial year ended on 31 March 2023.
The bank has been progressively reducing the NPA and for the first time in recent years, reduced the level to 1.37%. MCC Bank, with its operations confined to the parent districts of Dakshina Kannada and Udupi Districts since inception in 1912 is all set to expand its area of operations to five more districts, i.e. Uttara Kannada, Shimoga, Chikkamagaluru, Hassan and Coorg, because of the efforts of the team led by chairman Anil Lobo.
Addressing media on Wednesday April 12, Anil Lobo said, “The bank has recorded substantial growth in business and financial parameters in the financial year that ended on March 31, 2023 with a total business of Rs 933.21 crores. The net worth of the bank reached Rs 59 crores compared to Rs 46 crores the previous year (provisional). There is turnover of Rs 993 crore in 2023 compared to Rs 500 crore in 2018.
“Celebrating the Founder's Day and naming the fully renovated auditorium situated on the second floor of the administrative office at Hampankatta after the visionary founder P F X Saldanha, organising customer meets in all the branches, which were well attended by the esteemed customers of the bank, implementing the suggestions received at the customer's meet at branch level without further are the achievements of the bank for the financial year ended on March 31, 2023. The post-decennial century of the bank was celebrated, discharging the bank's commitment to society with financial assistance to the marginalized sections of society for house repairs, medical treatment, higher education, and girl child's marriage expenses,” he said.
The chairman and board of directors appreciated and wholeheartedly thanked the esteemed shareholders of the bank, trusted customers and committed employees for the record growth for the financial year that ended on March 31, 2023. “The bank remains grateful to the NRI customers for their unstinted support in terms of business and capital,” said Anil Lobo.
Vice chairman Jerald Jude D’Silva, general manager Sunil Menezes, directors Andrew D’Souza, Dr Gerald Pinto, Anil Patrao, J P Rodrigues, David D’Souza, Elroy Kiran Crasto, Herold Monteiro, Roshan D’Souza, Marcel M D’Souza, CG Pinto, Sushanth Saldanha, Irene Rebello, Dr Freed F D’Souza, Alwyn P Monteiro, Felix D Cruz and Sharmila Menezes were present.