Tamilnad Mercantile Bank Limited — Important, 28-10-2024: Financial Result Updates

Tamilnad Mercantile Bank reported unaudited financial results for the half-year ending September 30, 2024. Key highlights include a net profit of ₹59.05 crore, up from ₹53.47 crore year-over-year. Total income rose to ₹307.98 crore, with interest earned reaching ₹261.86 crore. The bank maintained a robust Capital Adequacy Ratio of 29.59%. Gross and Net Non-Performing Assets stood at 1.37% and 0.46%, respectively. The bank also increased its COVID-19 provision to ₹250 crores for contingencies.