Mangaluru: A team of five candidates led by Anil Lobo Fermai recorded a clean sweep in the mid term election held for the post of directorship of Mangaluru Catholic Cooperative Bank on Sunday.
The election was held at the St Aloysius High School premises, and saw nearly 3,000 shareholders casting their vote.
Anil Lobo received the maximum votes, 1478, while popular writer and experienced banker Macha Milar got second highest votes,1456. A lawyer and academician Kishore received 1391 votes, Raymond 1303 votes while Sevrine garnered 1396 votes.
The candidates supported by current Chairman Francis Cutinha were defeated comprehensively. However he still enjoys the support of the eight Directors still on the board
Consequently, the five elected directors may have to be content to raise issues of concern at the Board Meetings as Francis Cutinha already enjoys majority support on the board,. However, rumors abound that three of the eight existing directors may announce support to Anil Lobo, propelling him to the post of the Chairman of Board of directors.
The elected candidates are expected to take charge as members of the board of directors in less than a week from now and the first meeting is likely to be held in a fortnight.
Macha Milar, experienced banker, told newskarnataka.com after winning the election, that he has keenly observed the pros and cons in the functioning of bank since many years. “Core banking, deposit drive, increasing shareholders, indentifying branches undergoing losses, Non Performing Assets (recovery of loans) will be the areas of focus for the team, in the days to come”, he said
Anil Lobo is confident of taking the team together for the growth of the bank. “Running a bank is not a one man show. We want the MCC to emerge as a major bank in the country”, he said. However, Lobo declined to comment on taking up the chairmanship with the support of directors from the existing team. “Time will decide”, he said.
Soon after the results were announced, the winners were taken in a procession.
