Mangaluru: MCC Bank’s post-centenary decennial celebrations on Nov 27

Pics: Abhijith N Kolpe

Daijiworld Media Network – Mangaluru (ANK)

Mangaluru, Nov 24: “Mangalore Catholic Cooperative Bank Ltd known as MCC Bank Ltd will celebrate its post-centenary decennial celebrations on Sunday November 27 at Milagres College grounds,” informed MCC Bank chairman Anil Lobo.

Addressing media here on Thursday November 24, Anil Lobo said, “The bishop of Mangalore diocese Dr Peter Paul Saldanha will inaugurate the celebration, and blessing will be done by bishop of Udupi Dr Gerald Isaac Lobo. MLA Mangaluru South Vedavyas Kamath, NRI entrepreneur and philanthropist Dr Ronald Colaco will be the guest of honour. A thanksgiving Eucharistic celebration will be concelebrated at 3:45 pm at Our Lady of Miracles Church, Milagres.”

Founded in the year 1912 by community leader PFX Saldanha and other likeminded community leaders of Mangaluru of undivided Dakshina Kannada district, MCC Bank has 16 branches in Dakshina Kannada and Udupi district. Out of 16, 14 branches are fully air-conditioned and the remaining two will be upgraded soon. For the first time in the 110-year history of MCC Bank, the bank recorded an NPA of 1.60% on March 31, 2022 under the chairmanship of Anil Lobo. The net profit of the bank grew to Rs 8.27 crore as of March 31, 2022 from Rs 5.97 crore the previous year.

To commemorate the occasion of the post-centenary decennial year, the bank has introduced a special term deposit scheme for a limited period of time at the interest rate of 7.60% under the name post centenary decennial fixed deposit. Customers can deposit their money without any hesitation as deposits up to Rs 5 lac are covered by deposit insurance and credit guarantee corporation scheme, just like any other nationalized or commercial bank. Apart from this, the bank is giving 5% interest on student savings accounts and jewel, housing, vehicle and education loans are available at very competitive rates.

MCC Bank will expanded to 5 districts in a year

During the annual general body meeting, a decision has been taken to extend the bank to five districts such as Uttar Kannada, Shivamogga, Hassan, Chikkamagaluru and Kodagu within a year.

Charity fund distribution on November 26

The bank is also awarding financial aid to the needy families of the community towards medical treatment, higher education, housing and marriage expenses of daughters to the tune of Rs 10 to 15 lac as a part of its community commitment. MLA Vedavyas Kamath and mayor Jayanand Anchan will take part in the event.

The charity fund distribution programme will be held on November 26 at PFX Saldanha memorial auditorium at the bank’s head office.

Vice chairman Jerald Jude D’Silva, general manager Sunil Menezes, directors Andrew D’Souza, Marcel M D’Souza, Joseph Anil Patrao, Harold Monteiro, Elroy K Crasto, J P Rodrigues, David D’Souza, Roshan D’Souza, Dr Gerald Pinto, Irene Rebello, Dr Freeda D’Souza, C G Pinto, Sushanth Saldanha, Felix D’Souza, Alwyn P Monteiro and Sharmila Menezes were present.





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Comment on this article

  • Alwyn Crasta, Mangaluru/Bengaluru

    Fri, Nov 25 2022

    Congratulations and wishing all the best to MCC Bank in the coming years. in the present highly competitive environment, only the toughest can survive and flourish. I'm sure MCC Bank will meet the high expectations of its clientile, especially of our community, which has placed its trust in them.

    DisAgree Agree Reply Report Abuse

  • Sunny D'Souza, Marnimikatte

    Fri, Nov 25 2022

    Congratulations my best wishes Even after so many years our bank has not gone beyond South Kanara, it's very Sad.

    DisAgree Agree [1] Reply Report Abuse

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