Media Release
Mangaluru, Apr 15: MCC Bank Ltd, popularly known as MCC Bank, is set to complete 113 years of devoted service this year, having accomplished noteworthy progress across all business metrics for the financial year ending March 31, 2025.
The bank recorded an exceptional gross profit of Rs 13 crore for the fiscal year, consistently striving to reduce the net NPA, and successfully decreasing it to 1.30% of the total advances. The bank reached a milestone of Rs 1240 crore in total business turnovers showing a growth of 15%. Boasting an enhanced net worth of Rs 86.68 crore compared to the previous Rs 76 crore, the bank continues to benefit from NRI support.
Initially serving only the twin districts of coastal Karnataka—Dakshina Kannada and Udupi—the bank expanded its operations state-wide. During the financial year, the bank opened its 18th branch in Beltangady and 19th branch at Belman. It is the 2nd urban co-operative bank in Karnataka having NRI facility.
The bank’s operations have expanded across Karnataka. It operates fully on core banking and offers all the products and services available in other private and public sector banks. The bank is also working on expanding its branches across Karnataka state.
During the FY 2024-25, the bank has recorded gross profit of Rs 13 crore, with a total deposit of Rs 705.40 crore recording an increase of 11% over the previous year; the total advances of Rs 535.49 crore recording an increase of 20.37% over the previous year; working capital of Rs 836.73 crore (growth of 11.13%) and share capital of Rs 32.43 crore. The provision coverage ratio stood at 72.02% of the total NPAs. The bank is adequately maintaining the CRAR (Capital to Risk Assets Ratio), which stood at 22.81% as of March 31, 2025, well above the required level of 12.00% as per the Reserve Bank of India. The bank’s business turnover increased to Rs 1240 crore as of March 31, 2025.
The bank’s upcoming initiatives include the inauguration of its 20th branch at Byndoor in Udupi district by the end of July, the relocation of its Kulshekar branch to its own premises by the end of June, and the introduction of Google Pay, PhonePe, and UPI services. The bank also aims to achieve a business turnover of Rs 1,500 crore by the end of March next year.
The bank has been providing various financial products, including locker facilities at low costs, affordable education loans for domestic and international studies, MSME loans, vehicle loans, and housing loans, loans for house repairs, wedding, and purchase of household items. It offers gold loans without processing fees and provides ATM and mobile banking services free of charge. Deposits in the bank are insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC), as per the guidelines of the Reserve Bank of India (RBI).
Achieving such impressive growth can be attributed primarily to the unwavering support from members, customers trust, and dedicated efforts of employees. Looking ahead, the bank aims to attain even greater success in the current financial year with continued backing from esteemed members and clients along with committed staff members.
Anil Lobo - chairman, Jerald Jude D’Silva – vice chairman, Andrew D’Souza, Dr Gerald Pinto, Anil Patrao, J P Rodrigues, David D’Souza, Elroy Kiran Crasto, Herald Monteiro, Roshan D’Souza, Melvyn Vas, Vincent Lasrado, C G Pinto, Sushanth Saldanha, Irene Rebello, Dr Freeda D’Souza, Alwyn Monteiro, Felix D’Cruz, Sharmila Menezes – directors and Sunil Menezes – general manager were present at the press meet.