Mangalore: MCC Bank Elections
Posted On: 01/10/2010 18:18 GMT
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Press Release:

Mangalore :The directors of the Mangalore Catholic Co-operative (MCC) Bank have unanimously elected Melwyn D’Cunha as the Chairman and Dr Edward Nazareth as the Vice-Chairman of the executive body for a term of two-and-a-half years beginning Friday October 1, 2010.

The current team of 12 directors, under the leadership of Melwyn D’Cunha, were elected to the board of MCC Bank in the election held in March 2008 and they took over administration with effect from April 1, 2008. D’Cunha was the chairman.  

The Bank, which had consistently been undergoing loss since 2002 showed a turnaround under the present administration and for the first time in its history, it posted a profit of Rs 284 lac before tax in the financial year that ended on March 31, 2010. The directors declared a dividend of 8 percent to its shareholders in the annual general body held on Sunday September 26.

Edited and Published by Konkanifriends Team
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