Media Release
Mangaluru, Sep 20: MCC Bank Ltd reported a net profit of Rs 10.07 crore for the financial year 2025–26 and declared a 10% dividend to its members at its 108th annual general meeting. The Bank convened its 108th annual general meeting at Loyola Auditorium, St Aloysius PU College, Kodialbail, Mangaluru, on Sunday, September 20, at 11 am. The meeting was presided over by the chairman of the Bank, Sahakara Ratna Anil Lobo.
The lighting of the lamp was performed by Sahakara Ratna Anil Lobo, chairman of the Bank, along with special invitees and members of the Bank, including M P Noronha, former chairman of MCC Bank and district government pleader, Dakshina Kannada district; Rohan Monteiro, managing director, Rohan Corporation; Santhosh D'Souza, president, Catholic Sabha, Mangaluru Pradesh; Alwyn Quadros, president, All India Catholic Union, Karnataka State and Ronald Gomes, president Catholic Association of South Kanara. This was followed by floral tributes to the founder of the Bank, P F X Saldanha.
In his address, chairman Sahakara Ratna Anil Lobo highlighted the Bank's strong financial performance. He stated that the Bank recorded a net profit of Rs 10.07 crore, with deposits of Rs 872.88 crore, registering a growth of approximately 24%; advances of Rs 652.06 crore, registering a growth of approximately 22%; and working capital of Rs 1,008 crore, registering a growth of approximately 22%.
The Bank's share capital stood at Rs 34.08 crore, while net NPA was 1.26%, the provision coverage ratio was 68.34%, return on assets (ROA) was 1.00%, and CRAR stood at 16.53% as on March 31, 2026 as against the minimum limit of 12% prescribed by Reserve Bank of India. The Bank's total business crossed Rs 1,525 crore.
A 10% dividend was declared to the members. As part of the appropriation of profits, an amount of Rs 22.66 lac was set aside towards the Co-operative Education Fund.
Reminding the members of the commitments he had made during his visits to members' houses while campaigning for the 2018 Board of Directors' election, the chairman stated that every promise had been fulfilled. He recalled that many
members had expressed concerns about whether it would be possible to revive MCC Bank and take it to the level of other banks established in the Mangaluru and Udupi regions.
The members gave their mandate in favour of his team and elected all the members of his team as Directors.
He further stated that, with a sincere vision aimed at reviving MCC Bank, he and his team worked tirelessly, which had yielded positive results. He attributed the progress to their unwavering determination and perseverance, together with the continued support of the members and staff, which had yielded rich dividends. He said that the blessings showered by the members on him and his team had placed greater responsibility on them and given them the strength to face various obstacles and hurdles.
He emphasised that the Bank is guided by a “double-engine” governance system, functioning under the regulatory oversight of the Reserve Bank of India and the State Co-operative Department. Highlighting the Bank's significant progress over the past 8 years under the present management, he expressed his heartfelt gratitude to the members, customers and staff for their unwavering support and steadfast faith in the institution throughout its growth journey.
He urged the members to continue extending their support in taking the Bank to greater heights. He informed the members that the management had introduced various changes in the operations of the Bank and had been providing training to staff members in order to ensure quality service to customers.
Paying tribute to the vision and dedication of the Bank's founding leaders, the chairman stressed the importance of preserving their legacy by strengthening the institution and passing it on to the next generation as a financially robust and sustainable cooperative bank. He appealed to the members to remain loyal to the Bank and urged them not to
believe or circulate unverified information or rumours concerning the institution or its management.
Welcoming constructive criticism, he encouraged members to communicate their suggestions directly to the Bank so that its products and services could be continuously improved. The Chairman informed the gathering about the Bank's ambitious expansion programme, revealing plans to increase its network to 25 branches and 20 ATMs before the next annual general meeting.
He informed the members that the 24th branch would be opened at Padil, while the 25th branch would be established at Kadri or Bejai before the end of the financial year 2026–27. He also informed the gathering about the initial preparations being made for establishing these branches.
He stated that MCC Bank is a family consisting of the Board of Directors, members and staff members and that, as the head of this family, with the support and cooperation of all its constituents, he would strive to take the Bank to new heights. He sought the continued cooperation of the members in achieving this milestone and urged them to become brand ambassadors of the Bank by promoting its services and opening Current Accounts and other banking accounts for their day-to-day business transactions.
He reminded the members about the introduction of the new logo in January 2027 as part of the Bank's efforts to enhance its brand image. He also informed the gathering that the new website of the Bank had been launched and
requested customers to use the website to obtain information about the Bank's products and updates.
He informed the members that the implementation of ATMs, cash deposit machines and UPI was in the final stages. He further announced that, following the completion of the branch expansion programme and implementation of the Unified Payments Interface (UPI) platform, the Bank would organise customer meets across all its branches to engage directly with customers and obtain their valuable suggestions for further improvement.
Concluding his address, the chairman thanked all the members for their enthusiastic participation and continued support.
The audited financial statements for 2025–26, along with the audit report and compliance, the programme of activities and Budget for 2026–27, and the proposed amendments to the bye-laws, were placed before the AGM and approved by the members.
General manager, Sunil Menezes, responded to the written queries raised by the members in advance. Dr Gerald Pinto, director was felicitated by the chairman, with bouquet and shawl, for being conferred with the best author of the year by Raknno Konkani Weekly. Vice chairman Jerlad Jude D'Silva, directors Andrew D’Souza, Joseph M Anil Patrao, Dr Gerald Pinto, David D’Souza, Elroy Kiran Crasto, Roshan D’Souza, Herald Monteiro, J P Rodrigues, Vincent Lasrado, Melwin
Vas, Irene Rebello, Dr Freeda D’Souza, professional directors C G Pinto and Sushanth Saldanha, general manager Sunil Menezes were on the dais.
General manager Sunil Menezes welcomed the members. Deril Lasrado, chief manager, Morgansgate Branch, compered the programme. The Cadence Group, led by Neil D'Souza, presented the prayer song with grace and devotion. Remona Pereira, a renowned dance artist and recipient of the Golden Book of World Records recognition, captivated the audience with her mesmerising dance performance.
The meeting concluded with the national anthem. A large number of members actively participated in the annual general meeting.