MCC Bank Mangaluru Announces Robust Financial Performance and Expansion Strategy
Mangaluru-based MCC Bank Limited has unveiled a strong financial report for the fiscal year 2025-26, posting an operating profit of Rs 13 crore. The bank, which is celebrating 114 years of service, also revealed ambitious plans to grow its branch network to 25 locations during the 2026-27 period.
Strategic Branch Expansion in Coastal Karnataka
As part of its growth strategy, MCC Bank has received regulatory approval to open new branches at Deralakatte in Dakshina Kannada district and Katapady in Udupi district. Additional branches are planned for Vamanjoor and Mangaluru, signaling the bank's commitment to enhancing its presence across the coastal region of Karnataka.
Impressive Business Growth and Financial Metrics
Bank Chairman Anil Lobo, addressing reporters on Tuesday, highlighted significant achievements across key business indicators. The bank's total business turnover surged to Rs 1,525 crore, representing a substantial 23% increase. This marks a remarkable tripling from Rs 500 crore in 2018 when the current board assumed leadership.
Key financial highlights for FY 2025-26 include:
- Total deposits reached Rs 872.8 crore, up 23.7% from the previous year
- Total advances grew to Rs 652 crore, showing a 21.7% increase
- Working capital expanded to Rs 1,008.9 crore, reflecting 21.5% growth
- Share capital remained stable at Rs 34 crore
Strong Capital Position and Asset Quality
The bank demonstrated robust financial health with its net worth climbing to Rs 91.8 crore from Rs 83.7 crore in the preceding year. Asset quality showed marked improvement, with net non-performing assets reduced to 1.25% of total advances. The Provision Coverage Ratio stood at a healthy 68.8% of total NPAs, while the Capital to Risk Assets Ratio reached 17% as of March 31, 2026, comfortably exceeding the regulatory requirement of 12%.
This comprehensive financial performance underscores MCC Bank's resilience and strategic vision as it enters its 115th year of operation, positioning itself for continued growth and community service in the region.
