Media Release
Mangaluru, Sep 21: MCC Bank reported an impressive net profit of Rs 9.51 crore for the financial year 2024–25, marking a historic milestone in its performance, and declared a 10% dividend to its shareholders.
The bank convened its 107th annual general meeting at Loyola Hall, St Aloysius PU College, Kodialbail, Mangaluru, on Sunday, September 21, at 11 am. The chairman of the bank, Sahakara Ratna Anil Lobo, presided over the meeting.
The lighting of the lamp was performed by Sahakara Ratna Anil Lobo (chairman), Jerald Jude D’Silva (vice chairman), C G Pinto (professional director), and invitees including Praveen S Lobo (advocate and notary), Melwin Aranha (vice president, parish council, Shirva Church), Anitha Frank (secretary, commission for women, diocese of Mangaluru), Mable D’Souza (former president, Catholic Sabha, Kundapur) and J V D’Mello (former director, MCC Bank). 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 record performance, reporting a net profit of Rs 9.51 crore, deposits of Rs 705.40 crore (up by 11%), advances of Rs 535.49 crore (growth of 21%), working capital of Rs 830.30 crore (up by 10%), share capital of Rs 32.43 crore (growth of 4%), NPAs at 1.40%, provision coverage ratio of 70.41%, ROA at 1.15%, CRAR maintained at 18.92% as of March 31, 2025, against the RBI norm of 12%, and business turnover crossing Rs 1,300 crore.
The chairman, while highlighting the rapid progress and growth of the bank during the last seven years under the present management, expressed his gratitude to all the members, customers, and staff who have stood steadfastly with the bank and supported the initiatives taken by the management.
While recalling the vision of the forefathers, he stressed the importance of carrying forward their legacies and handing over a financially strong and sound bank to the next generation. He urged members to remain loyal to the bank and to refrain from spreading rumours against the institution or its management. He welcomed constructive feedback and encouraged members to share suggestions directly with the bank to help enhance its services and products.
He said, “MCC Bank is not just a bank — it is our society, meant to support and uplift the community.” Lobo extended special thanks to customers in Dubai for their continued trust. He also announced the upcoming inauguration of the bank’s 21st branch at Santhekatte, Udupi district, on October 5, and invited all members to attend the event. He shared the bank’s vision to expand to 25 branches and 20 ATMs before the next annual general meeting, seeking continued support for this initiative. He concluded by thanking all members for their participation.
The proceedings began with a prayer led by the Blue Angel Group, followed by tributes to members who had passed away during the previous year.
Vice chairman Jerald Jude D’Silva read the minutes of the 106th AGM. The audited financial statements for 2024–25, along with the audit report and compliance, the programme of activities and budget for 2025–26, and proposed amendments to the by-laws, were presented and approved by the AGM.
On the occasion, Praveen S Lobo, advocate, Moodbidri, was honoured for being appointed by the government of Karnataka as a notary public, serving with dedication since 2005.
Chairman Sahakara Ratna Anil Lobo was also felicitated for receiving the prestigious All India Catholic Community Award 2025 by general manager Sunil Menezes on behalf of the board of directors, staff, and members.
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, and general manager Sunil Menezes were on the dais.
General manager Sunil Menezes welcomed the members. Owin Rebello, branch manager of Brahmavar branch, compered the programme.
The meeting concluded with the national anthem. A large number of members actively participated in the annual general meeting.