Monday 22nd, April 2024
canara news

MCC Bank Records 12.20 Cr profit, 1.37% NPA and all set to spread its wings to 5 more districts

Published On : 14 Apr 2023   |  Reported By : media release


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 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.

: Present at the Press Meet :
Chairman – Anil Lobo, Vice Chairman - Jerald Jude Dsilva,
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, Sharmila Menezes. General Manager – Sunil I Menezes







More News

34th Graduation Ceremony of Father Muller Homoeopathic Medical College & Hospital on 20.04.2024
34th Graduation Ceremony of Father Muller Homoeopathic Medical College & Hospital on 20.04.2024
 Kannada Department of Mumbai University; Niranjan centenary-lecture-Release of Six Books
Kannada Department of Mumbai University; Niranjan centenary-lecture-Release of Six Books
NRI FORUM KARNATAKA, BAHRAIN UNIT SELECTED FIRST PRESIDENT,EXECUTIVE COMMITTEE & ADVISORS
NRI FORUM KARNATAKA, BAHRAIN UNIT SELECTED FIRST PRESIDENT,EXECUTIVE COMMITTEE & ADVISORS

Write your Comments

Disclaimer: Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. canaranews.com will not be responsible for any defamatory message posted under this article.

Please note that under 66A of the IT Act, sending offensive or menacing messages through electronic communication service and sending false messages to cheat, mislead or deceive people or to cause annoyance to them is punishable. It is obligatory on CANARANEWS to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using canaranews will be purely at your own risk, and in no way will canaranews.com be held responsible.