M.C.C. Bank, which has a 113-years history, has achieved excellent progress in the banking sector, declaring 10% dividend to its members for the financial year 2023-24. The bank has been consistently making profit and during 2023-24, the bank has come out with an unprecedented net profit of Rs. 10.45 crore, the highest in the bank's history. The current management, under the leadership of ‘Sahakara Ratna’ Shri Anil Lobo, has been driving the bank’s progress over the past six years.
The bank’s operations have expanded across Karnataka. It operates fully on core banking and offers all the products and services available in other private and public sector banks. The bank has plans to provide digital services such as Google Pay, PhonePe, UPI, and more are underway. The bank is also working on expanding its branches across Karnataka state.
The bank has been providing various financial products, including locker facilities at low costs, affordable education loans for domestic and international studies, MSME loans, vehicle loans, housing loans, loans for house repairs, wedding, and purchase of household items. It offers gold loans without processing fees and provides ATM and mobile banking services free of charge. M.C.C. Bank is the only urban co-operative bank in Karnataka providing NRE accounts to NRIs. Deposits in the bank are insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC), as per the guidelines of the Reserve Bank of India (RBI).
M.C.C. Bank’s total deposits amount to Rs. 670 crore, total loans and advances stand at Rs. 515 crore, and the total business has reached Rs. 1185 crore. As on 31st March, 2024, the working capital of the bank was Rs.752.95 crore, and the share capital was Rs. 31.21 crore. The bank’s NPA ratio has improved to 1.12%, showing a significant reduction in NPA. The bank’s capital adequacy ratio, which exceeds the RBI’s minimum requirement of 9%, stands at 23.06%, indicating a healthy financial position. The bank has been continuously rated as ‘A’ grade bank by the auditors appointed by the RBI, demonstrating its strong financial health.
M.C.C. Bank, with its 113-year history, marks a significant achievement as Shri Anil Lobo, became the first bank’s president to receive the Sahakara Ratna award from the Government of Karnataka. This recognition reflects the bank’s progress over the last six years.
With the constant efforts of the efficient management team, the dedicated staff, and a well-laid out strategic plan, the bank has met all the regulatory requirements set by the Reserve Bank of India and opened its 17th branch after 22 years at Brahmavara in March 2024. Now, M.C.C. Bank is set to inaugurate its 18th branch at Belthangady on November 24, 2024.
The Branch will be inaugurated by Sahakara Ratna Shri Anil Lobo, President of MCC Bank. V Rev. Fr Walter Dmello, Parish Priest of Holy Redeemer Church, Belthangady will bless the branch premises, Mr Jaayananda Gowda T, President of Town Panchyath, Belthangady, Rev Fr Abraham Patteril, Procurator of Belthangady Diocese will be the chief guests. Shri Henry Lobo, President of Belthangady Catholic Credit Co.operative Society, Shri Anil A.J., President of Syrian Catholic Multipurpose Cooperative Society, Belthangady and Shri Charmadi Hasanabba, Social Worker are the Guests of honour.
Bank’s Management: The current Board of Directors includes ‘Sahakara Ratna’ Shri Anil Lobo as the president, Shri Gerald D’Silva as vice-president, Shri Andrew D’Souza, Shri Anil Patrao, Dr Gerald Pinto, Shri David D’Souza, Shri Elroy Crasto, Shri Roshan D’Souza, Shri Herald Monteiro, Shri J.P. Rodrigues, Shri Vincent Lasrado, Shri Melwin Vas, Smt. Irene Rebello, and Dr Freeda D’Souza as directors. Shri C.G. Pinto and Shri Sushanth Saldanha as Professional directors. The Board of Management consists of Shri Felix D’Cruz, Shri Alwin Monteiro and Smt. Sharmila Menezes. Currently, Shri Sunil Menezes serves as the General Manager, with a total of 185 staff members working at the administrative office and branches.
