Tamilnad Mercantile Bank Limited
Incorporated in 1921, Tamilnad Mercantile Bank (TMB) is one of the oldest private sector banks in India. It offers an array of banking and financial services to retail customers, micro, small, and medium enterprises (MSMEs).
What Tamilnad files
- Others100
- Updates56
- Investor Meet51
- Important26
- Board Meeting12
- PPTs10
Tamilnad Mercantile Bank announced the opening of a new branch in Thiruvottiyur, Tamilnadu. This move expands the bank's operational footprint and strengthens its presence in the region, aiming to enhance customer reach.
Tamilnad Mercantile Bank's financial results for the quarter show Net Profit up 34.97% to ₹411.51 Cr & Operating Profit up 48.22% to ₹611.07 Cr. Asset quality improved significantly: Gross NPA 0.69%, Net NPA 0.17%. Total Business grew 23.04% to ₹1,21,715 Cr. Bank expanded with 6 new branches.
The Bank is updating its email domain from @tmbank.in to @tmb.bank.in, following RBI guidelines. The old domain remains active for 30 days during this operational transition.
The bank has revised its Marginal Cost of Funds Based Lending Rate (MCLR), increasing rates across all tenors by 0.10%. This move will likely raise lending rates, potentially enhancing the bank's Net Interest Income and margins for investors.
Bank reports robust provisional figures. Total Business grew 23.04% YoY to ₹1,21,715 Cr. Advances surged 27.01% YoY to ₹57,306 Cr, with Deposits up 19.71% YoY to ₹64,409 Cr, indicating strong operational performance.