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M.C.C. Bank Ltd convenes Annual General Meeting, records a net profit of 9.51 Crore in FY 2024-25 and declares 10% dividend at 107th AGM

M.C.C. Bank Ltd. reported an impressive net profit of ₹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 P.U. College, Kodialbail, Mangalore, on Sunday, 21st September 2025, at 11:00 a.m. The Chairman of the Bank, Sahakara Ratna Mr Anil Lobo, presided over the meeting. 

The lighting of the lamp was performed by Sahakara Ratna Mr Anil Lobo (Chairman), Mr Jerald Jude D’Silva (Vice Chairman), Mr C.G. Pinto (Professional Director) and special invitees including Mr Praveen S Lobo (Advocate & Notary), Mr Melwin Aranha (Vice President, Parish Council, Shirva Church), Mrs Anitha Frank (Secretary Commission for Women, Diocese of Mangalore), Mrs Mable Dsouza (Former President Catholic Sabha, Kundapur) and Mr J.V. Dmello (Ex Director of MCC Bank);followed by offering floral tributes to the Founder of our Bank, Mr PFX Saldanha.

In his address, the Chairman Sahakara Ratna Mr Anil Lobo highlighted the Bank’s record performance, reporting a net profit of ₹9.51 crore, deposits of ₹705.40 crore (up by 11%), advances of ₹535.49 crore (growth of 21%), working capital of ₹830.30 crore (up by 10%), share capital of ₹32.43 crore (growth of 4%), NPAs 1.40%, provision coverage ratio of 70.41%, ROA at 1.15%, CRAR maintained at 18.92% as of 31st March 2025 against the RBI norm of 12%, and business turnover crossing the ₹1300 crore. 

The Chairman while highlighting the rapid progress and growth of the bank during the last 7 years under the present management, expressed his gratitude to all the members, customers, and the staff members 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 on their great legacies forward and handover the bank which is financially sound and strong to our next generation. He urged members to remain loyal to the Bank and to refrain from spreading rumors 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.” Mr 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, 2025, 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 in the Annual General Meeting. 

The proceedings began with a prayer led by Blue Angel Group, followed by tributes to members who had passed away during the previous year 
Vice Chairman Mr 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.

The Chairman responded to members’ queries and assured that their suggestions would be considered for implementation. 

On the occasion, Mr Praveen S Lobo Advocate, Moodibidri was honoured for being appointed by the Government of Karnataka as a Notary Public, and he has been serving with dedication since 2005.  

Chairman Sahakara Ratna Mr Anil Lobo was also felicitated for receiving the prestigious All India Catholic Community Award 2025, by General Manager Mr Sunil Menezes on behalf of the Board of Directors, staff, and members. 
Directors Mr Andrew D’Souza, Mr Joseph M. Anil Patrao, Dr Gerald Pinto, Mr David D’Souza, Mr Elroy Kiran Crasto, Mr Roshan D’Souza, Mr Herald Monteiro, Mr J.P. Rodrigues, Mr Vincent Lasrado, Mr Melwin Vas, Mrs Irene Rebello, Dr Freeda D’Souza, Professional Directors Mr C.G. Pinto and Mr Sushanth Saldanha, General Manager Mr Sunil Menezes were on the dais. 
General Manager Mr Sunil Menezes welcomed the members. Mr Owin Rebello, Branch Manager of Brahmavara Branch, compered the programme.  

The meeting concluded with the National Anthem. Large number of members actively participated in the Annual General Meeting.