Melwyn D’Cunha Chairman, Dr Edward Nazareth Vice-Chairman of MCC Bank
Daijiworld Media Network - Mangalore (RD/CN)
Mangalore, Sep 29: The directors of the Mangalore Catholic Co-operative (MCC) Bank have unanimously elected Melwyn D’Cunha as the chairman and Dr Edward Nazareth as the vice-chairman of the executive body for a term of two-and-a-half years beginning Friday October 1.
The current team of 12 directors, under the leadership of Melwyn D’Cunha, were elected to the board of MCC Bank in the election held in March 2008 and they took over administration with effect from April 1, 2008. D’Cunha was the chairman.
Melwyn D'Cunha Dr Edward Nazareth
The Bank, which had consistently been undergoing loss since 2002 showed a turnaround under the present administration and for the first time in its history, it posted a profit of Rs 284 lac before tax in the financial year that ended on March 31, 2010. The directors declared a dividend of 8 percent to its shareholders in the annual general body held on Sunday September 26.
As per the rules, the executive body requires a change once in two and a half years; the directors have decided to continue work under the leadership of D’Cunha.
Dr Nazareth is serving as a professor of orthopaedic surgery at Fr Muller Medical College. He is a well-known orthopaedic surgeon in the city, a Konkani writer, Konkani activist, and daijiworld.com columnist.
He has also been chief of the planning and development committee of MCC Bank in the last term and will now take responsibility as vice-chairman of the board of directors. It may be recalled that Dr Nazareth was elected to the board with maximum number of votes in the general category in the election held in March 2008.