Invitation to NRI Meet 2024: MCC Bank invites its valued NRI customers and prospective clients to attend this landmark event
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The NRI Meet aims to strengthen connections, highlight the bank’s offerings, and explore opportunities for mutual growth
MCC Bank Ltd, a renowned cooperative bank with an impressive 113-year history, is gearing up to host its NRI Meet 2024 on December 30 at Hotel Ocean Pearl, Pacific Hall 01 & 02, Navabharath Circle, Kodialbail, Mangaluru.
This event highlights MCC Bank’s commitment to fostering relationships with its Non-Resident Indian (NRI) customers and showcasing the bank’s extensive range of services. The previous NRI Meet, held in 2022, received an overwhelming response, contributing to a notable increase in NRE deposits by Rs 9.21 crore over two years.
A Legacy of Excellence
MCC Bank operates 18 branches across Karnataka, including new additions in Brahmavara and Beltangady. Its financial performance is a testament to its robust operations. As of March 31, 2024, the bank reported:
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Total deposits: Rs 670 crore
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Total loans and advances: Rs 515 crore
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Total business: Rs 1,185 crore
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Working capital: Rs 752.95 crore
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Capital adequacy ratio: 23.06%
With an impressive Non-Performing Assets (NPA) ratio of 1.12% and consistent ‘A’ grade ratings from RBI-appointed auditors, MCC Bank exemplifies stability and trust. The leadership of President Anil Lobo, recognized with the “Sahakara Ratna” award, further underscores the bank’s growth and contribution to the cooperative banking sector.
Tailored Services for NRIs
MCC Bank is among the few cooperative banks in Karnataka authorized to open NRE accounts, offering unmatched services to its global clientele. These include:
- Competitive rates on NRE deposits
- Debit card facilities
- Education loans at 9.25% interest
- Car loans at 9.50% interest, with repayment terms up to 84 months
- Affordable safe locker facilities starting at Rs 1,200 per annum
Its dedicated NRI banking department ensures personalized services, allowing customers to manage foreign-earned income, make investments, and transfer funds seamlessly.
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