Titus Notonha
MCC Bank Records 12.20 Cr profit, 1.37% NPA | All set to spread wings to 5 more districts
111 years 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 12.20 crores at the financial year ended on 31st March 2023.
The Bank has been progresively reducing the NPA and for the first time in recent years, reduced the level to 1.37%.
The 111 years old 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, Chikamagaluru, Hassan and Coorg, because of the efforts of the team led by Chairman Anil Lobo.
The Bank has recorded substantial growth in Business and financial parameters in the financial year that ended on 31st March 2023 with a total business of 933.21 Crores. The Net Worth of the Bank reached Rs.59 Crores compared to 46 Crores the previous year (Provisional).
Celebrating 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 31st March 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.
The Chairman and Board of Directors appreciate and wholeheartedly thank the esteemed shareholders of the bank, trusted customers and committed employees for the record growth for the financial year that ended on 31st March 2023. Bank remains grateful to the NRI customers for their unstinted support in terms of business and Capital.
Officials Present at the Press Meet:
Chairman – Anil Lobo, Vice Chairman – Jerald Jude Dsilva, General Manager – Sunil I Menezes, Directors – Andrew Dsouza, Dr Gerald Pinto, Anil Patrao, J.P. Rodrigues, David Dsouza, Elroy Kiran Crasto, Herold Monteiro, Roshan Dsouza, Marcel M. Dsouza, C.G.Pinto, Sushanth Saldanha, Irene Rebello, Dr Freed F. Dsouza, Alwyn P. Monteiro, Felix Dcruz, and Sharmila Menezes.
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