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Net profit for Tamilnad Mercantile Bank (TMB) grew by 6% YoY to ₹300 crore, supported by strong core lending and deposit demand. Operating profit increased by 10% to ₹408 crore, while non-interest income rose 20% to ₹189 crore. The bank’s total deposits reached ₹50,392 crore, and advances grew by 13.71% to ₹43,650 crore.
Key improvements included a reduction in gross NPA to 1.32% and net NPA to 0.41%. The provision coverage ratio has significantly increased to 69.07%. Furthermore, TMB opened 5 new branches and launched three strategic initiatives aimed at enhancing its service offerings, focusing on global NRI services, transaction banking, and credit management.
These developments, along with a healthy capital adequacy ratio now at 29.35%, position TMB for sustained growth. Investors should view these results positively as the bank strengthens its market position and continues to pursue strategic partnerships for operational efficiency and customer engagement.