Mangalore: Century-old MCC Bank goes to election on Sep 7

Vineeth Monis
Daijiworld Media Network - Mangalore

Mangalore, Sep 5: The Mangalore Catholic Co-operative Bank, established way back in 1912, has a long history and is steadily climbing greater heights.

The bank’s election, to be held on Saturday September 7, will see the installation of a board of directors who will need to take the bank to a higher level.

Group led by Melwyn D'Cunha

From top left: Melwyn D'Cunha, Dr Edward Nazareth, Edmund Frank, Herald D'Souza, Santosh Nazareth, John D'Silva, Jacintha Borromeo, Conrad Castelino, Valerian Sequeira, Leo Walter Nazareth, Adolphus Cutinha, Dora Rodrigues, Shalet Pinto

Valentine D’Silva's group

Group led by Francis Cutinho

There is a lot of speculation among the shareholders as to who will lead the bank. The bank requires a lot of stability and improvement although it has been around for so long. It hasn’t got a grasp of the city’s financial need yet.

“The elections will be conducted for the post of 15 directors among which 11 will occupy the general category, 2 will occupy the women’s reservation, and 1 each to the SC/ST and backward communities. Since the SC/ST did not have any nominations, this election will be for only 13 positions on the directorial board,” said returning officer V Maheshwarappa.

“The total number of voters for the election is 20,128 and the counting will begin soon after the election,” he added.

There are 36 candidates in all contesting in the general category and 6 in the women’s category in the election. These have in turn divided themselves among three different categories which are led by current chairman of MCC bank Melwyn D’Cunha, Francis Cutinho Fermai, and by Valentine D’Silva.

Valentine D’Silva, speaking about his nomination said, “I have been an able director during 15 years of my tenure from 1991-2008 wherein I have received a lot of appreciation from people.” When asked about his plans if elected, he said, “I will introduce ATMs and more branches which are required for our customers. Features such as core banking and NRE exchange will also be worked upon.”

“I believe that actions speak louder than words and once I am elected I will prove the same,” he added.

Members of his group are Lancelot Pinto, Herald Monteiro, Valerian Sequeira, Lawrence Gonsalves, Beston Baptist Sequeira, Maxim D’ Silva, Paul Lobo, Antony G Machado, Baptist D’ Souza, Norbert Antony Crasta, Juliet Mascarenhas, and Anna Ivet D’ Souza.

Francis Cutinho Fermai said that their team will rectify the problems with the current banking system. “We will gradually undertake all the necessary development work of the bank,” he said, stating that their team can handle the duties well as it comprises of four bankers, businessmen, teachers, and others.

“In order to increase bank connectivity and networking, we will bring NRI deposits, minorities will benefit from our schemes as we will work on providing government facilities to them and several others,” he added.

The group headed by Francis Cutino Fermai consists of Dr Judith Pinto, Jerald Fernandes, Jerald D’ Silva, Melwyn Clifford D’ Souza, Andrew D’ Souza Palladka, Alwyn Patrao, Vivet Clara Lobo, D J Patrao, Raymond Monteiro, Dennis D’Souza, Oswald Monteiro, and Michael Patrick Lobo.

Melwyn D’Cunha said, “During my term as a chairman, one of our achievements was the request to the RBI to open five new branches. In future, if we get elected, our target is to increase the business turnover from Rs 400 crore to Rs 1,000 crore and NRE permission.”

“During our tenure, we have done good progress and we will continue to do so, if we get elected,” he added.

Melwyn D’Cunha’s group members are Edmond Frank, Edward Nazareth, John D’Silva, Adolphus Cutinha, Conrad Castelino, Dora Rodrigues, Herald D’ Souza, Santhosh Nazareth, Leo Walter Nazareth, Jacintha Borromeo, Shalet Pinto, and Valerian Sequeira.

Apart from the above candidates, Francis Serrao Kinnigoli, Benet H D'Silva and Henbert N Pinto, who are not part of any of the three groups, are also contesting.

In the last five-year term, the bank’s total business has increased from Rs 125 core to Rs 400 crore while the bank’s capital has gone up from Rs 3.32 crore to Rs 6.76 crore, deposits from Rs 92 to Rs 256 crore and loans given have risen from Rs 43 crore to Rs 156 crore.

The elections will be held at Loyola Hall, St Aloysius College, on Saturday September 7 from 9 am to 4 pm.