MCC Bank is on the brink of celebrating 113 years of dedicated service, having made remarkable strides in all areas of business performance for the financial year ending March 31, 2025. The bank posted an impressive gross profit of Rs 13 crore this fiscal year.
Commenting on the performance, Bank Chairman Anil Lobo said that the bank not only delivered strong financial results but also managed to reduce its Net Non-Performing Assets (NPA) to a commendable 1.30% of total advances.
Total business turnover reached Rs 1240 crore, indicating a 15% year-on-year growth. The net worth rose from Rs 76 crore to Rs 86.68 crore, further strengthened by robust support from Non-Resident Indian (NRI) customers.
Originally catering to the twin coastal districts of Dakshina Kannada and Udupi, the bank has progressively expanded its footprint across Karnataka. During the past year, MCC Bank inaugurated its 18th and 19th branches at Belthangady and Belman, respectively.
It has announced plans to open its 20th branch in Byndoor, Udupi District, by the end of July 2025. This move underscores the Bank’s commitment to strengthening its presence and making services more accessible across the state. Additionally, the Kulshekar Branch is scheduled to shift to its own premises by the end of June, reflecting the Bank’s focus on infrastructure development.
As a core banking-enabled institution, MCC Bank provides a wide range of services on par with those offered by private and public sector banks, including upcoming integration with digital platforms like Google Pay, PhonePe, and UPI. The financial highlights for FY 2024–25 include total deposits of Rs 705.40 crore, marking an 11% increase over the previous year. Total advances surged by 20.37%, reaching Rs 535.49 crore.
The bank’s working capital stood at Rs 836.73 crore, up by 11.13%, while share capital amounted to Rs 32.43 crore. With a provision coverage ratio of 72.02% for total NPAs and a Capital to Risk Assets Ratio (CRAR) of 22.81%, well above the RBI’s required 12%, the bank demonstrates strong financial stability.
Looking ahead, the bank has set an ambitious goal of achieving a business turnover of Rs 1500 crore by March 2026. It continues to provide a comprehensive suite of financial products, such as affordable education loans for domestic and international studies, MSME loans, housing and vehicle loans, gold loans with zero processing fees, and personal loans for weddings or home repairs.
Customers benefit from locker facilities at low costs and enjoy free ATM and mobile banking services. Moreover, all deposits are insured under the DICGC, ensuring depositor protection in accordance with RBI norms.
The bank attributes its sustained growth and resilience to the trust of its loyal customers, the commitment of its employees, and the unwavering support of its members.