Mangaluru: MCC Bank convenes 98th AGM; announces 10% dividend

Pics by Gerry Concessao, Derebail
Bellevision Media Network

Mangaluru, 01 Aug 2016: Mangalore Catholic Co-operative (MCC) Bank Limited convened its ninety-eighth annual general meeting at St Sebastian Platinum Jubilee Hall, Bendore, here on Sunday July 31.

 

MCC Bank chairman Francis Coutinho in his presidential address said, ‘The Bank has earned a net profit of Rs 175.82 lac, with the total deposit of Rs 28,931.51 lac, total reserves of Rs 2763.77 lac, advances of Rs 15,889.08 lac, working capital of Rs 33,301.27 lac and share capital of Rs 892.65 lac.’ Meanwhile, Francis Coutinho announced 10 percent dividend to the shareholders.

 

 

Further the financials of 2015-16, programme for the financial year 2016-17 and Budget for the year 2016-17, was presented and approved.

 

The Bank vice chairman Alwyn Patrao read the minutes of last annual general body meeting.

 

The board of directors – D J Patrao, Gerald J D’Silva, Denis D’Souza, Andrew D’Souza, Melvyn C D’Souza, Anil Lobo, Kishore D’Silva, Marcel D’Souza, Raymond Monteiro, Severine Lobo, Archibald Menezes, Herald Fernandes, Stephen Pinto were present.

 

The designated general manager Sunil Menezes compered and proposed vote of thanks.