Mangaluru, Apr 3: For the first time in its history, the Mangalore Catholic Co-operative Bank Ltd, popularly known as MCC Bank, recorded a net NPA of 1.50% and profit to the tune of Rs 9.01 crore as on the financial year that ended on March 31, 2022. The news comes as a post-centenary decennial celebration gift to the shareholders of the bank as the bank is all set to celebrate year 2022 as post centenary decennial year.
Established in the year 1912 by P F X Saldhana and other community leaders with a noble vision to reach out for the banking needs of Christian community in particular, the institution has grown steadily over the past 110 years. MCC Bank has 16 branches spread across the undivided district of Dakshina Kannada and all the branches are fully computerised and ATM facility available at select branches. The bank offers a free digital banking facility to its customers.
MCC Bank head office
Board of directors
MCC growth chart
Founder chairman P F X Saldanha
In spite of the pandemic, the present chairman Anil Lobo and his team’s sincere efforts and commitment of the staff, the financial figures for the year ended on March 31, 2022 show tremendous growth in all areas.
The NPA has come down to 1.50% compared to 1.92% last year, Profit has grown to Rs 9.01 crore compared to Rs 5.96 crore last year. Deposits recorded a growth of Rs 532 crore compared to Rs 456 crore last year and working capital grew to Rs 620 crore from Rs 527 crore last year.
Chairman Anil Lobo expressed his gratitude to the shareholders and customers for their trust in the institution and unstinting support to the present management. Lobo wholeheartedly thanked staff members for their commitment towards the Institution and hard work. He further said his team will put its best efforts to pay the shareholders a higher dividend subject to the regulatory framework.
Unable to digest the growth recorded by the bank since Anil Lobo and team took the mantle of the bank, one member in the guise of a social worker is running a smear campaign against the bank. Though the bank administration excused him as he is the member of the bank, when he continued the nefarious activities against the bank filed a complaint with the police and FIR is registered in Mangalore North Police Station u/s 504,506,507 (Crime Number : 107/2021) in the month of November 2021. Case under IPC Sec 500 stands registered against the same member in JMFC court in Mangaluru.
Copies of the FIR
“We live in a democratic country and every citizen has the right to freedom of expression. But the right to freedom of expression does not allow anybody to damage the institution by spreading rumours,” says Anil Lobo.
“The 110-year-old bank is very strong and it will not shake on rumours. The financial results for the year ended on 31.03.2022 speak about the tremendous growth of the bank.
“MCC Bank is not a co-operative society. The bank falls under dual control of the RBI regulatory mechanism and state co-operative department. Stringent safety measures are followed when it comes to banking business, shareholders and customers' stake. Deposits are covered under DICGC Scheme just like any other Nationalised Bank,” says Anil Lobo.
He requested the shareholders and customers of the MCC Bank not to heed the rumours spread by vested interests. He requested the members and customers to follow the bank’s official website www.mccbank.in for regular updates.