Tamilnad Mercantile Bank

Nair in an online interaction with Shine Jacob, outlines his vision for the Tamilnad Mercantile Bank

Private sector Tamilnad Mercantile Bank has reported a 10.84 per cent rise in its net profits for the July-September quarter at Rs 303.18 crore, the bank said on Tuesday. The Tuticorin-based over century-old bank had registered net profits of Rs 273.51 crore during the corresponding quarter of last year. For the six month period ending September 30, 2024 the net profits surged to Rs 590.47 crore, from Rs 534.74 crore registered in the year ago period. Total income during the quarter under review grew to Rs 1,564.88 crore, from Rs 1,365.22 crore registered in the corresponding quarter of last year. For the half year ending September 30, 2024 the total income went up to Rs 3,079.75 crore as against Rs 2,688.11 crore registered in the year ago period. In a statement, the bank said the Gross Non-Performing Assets (Gross NPA) decreased to 1.37 per cent by 33 basis points, from 1.70 per cent as on September 30, 2024 while net NPA fell to 0.46 per cent from 0.99 per cent. The Net Interes

Total income grew 15 per cent to Rs 1,565 crore during the quarter under review, from Rs 1,365 crore during the July to September period last financial year

The bank in its AGM highlighted its continued focus on growth and transformation, laying out a comprehensive plan for expansion and digitalisation to drive future growth.

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Tamilnad Mercantile Bank (TMB) shares surged up to 4.35 per cent at 470.80 a piece on the BSE during intraday trading on Monday

Nair, a postgraduate in applied electronics, started his banking career in 1987

Launch special schemes to boost fund base

At present, around 93 per cent of its business comes from the retail, agriculture, and micro, small and medium enterprise (MSME) sectors

Over century-old private sector Tamilnad Mercantile Bank has recorded a 9.97 per cent rise in its net profit for the April-June 2024 quarter at Rs 287.29 crore on account of rise in interest income. The Tamil Nadu-based bank had registered a net profit of Rs 261.23 crore during the corresponding quarter of last year. For the financial year ending March 31, 2024 the net profit stood at Rs 1,072.03 crore. Total income during the April-June 2024 quarter went up to Rs 1,046.03 crore from Rs 942.98 crore registered in the year ago period. For the financial year ending March 31, 2024 the total income stood at Rs 5,492.85 crore. According to a press release, the bank's deposits rose to Rs 49,188 crore during the April-June 2024 quarter, from Rs 47,008 crore registered in the same quarter of last year. The advances of the bank has increased to Rs 40,853 crore with a growth of 10 per cent year-on-year basis. The Net Interest Income stood at Rs 567 crore for the April-June 2024 quarter, a

Total income has grown 15 per cent to Rs 1,515 crore during the quarter under review, from Rs 1,323 crore during the same period last fiscal

Krishnan had resigned from the post of MD and CEO of the Tuticorin-based bank, on September 28 last year, citing personal reasons

The bank posted a net profit of Rs 284 crore for the October-December 2023 quarter

Bank has been asked to submit "fresh panel of candidates with suitable experience" for the position of chief executive

Krishnan Sankarasubramaniam, TMB's managing director and chief executive officer, resigned from his position on September 28, 2023. He continues to serve until a new appointment is confirmed

The Reserve Bank of India on Tuesday it has imposed penalties on DCB Bank and Tamilnad Mercantile Bank for non-compliance with certain directions related to 'interest rate on advances'. A monetary penalty of Rs 63.6 lakh has been imposed on DCB Bank, the RBI said in a statement. In a separate release, the central bank informed that a penalty of Rs 1.31 crore has been imposed on Tamilnad Mercantile Bank for non-compliance with certain directions issued by it on 'Interest Rate on Advances' and 'Central Repository of Information on Large Credits (CRILC) - Revision in Reporting'. In both cases, the RBI said the penalties were based on deficiencies in regulatory compliance and not intended to pronounce upon the validity of any transactions or agreements entered into by them with their customers.

The approval is subject to Ravindran, stepping down from his directorships in Shriram Finance and Bandhan AMC, prior to assuming charge

Bank's performance and share price mute compared to peers, says P C G Asok Kumar

The bank's total income increased by 18 per cent to Rs 1,387 crore during the quarter under review, compared with Rs 1,173 crore in the corresponding quarter last year

Private sector Tamilnad Mercantile Bank has reported a net profit of Rs 284 crore for the October-December 2023 quarter, the bank said on Monday. The Tuticorin-based bank had reported a net profit at Rs 280 crore during the corresponding quarter of the last financial year. The bank's total income during the quarter under review grew to Rs 1,387 crore from Rs 1,173 crore registered in the same period last year. The total business of the bank during the October-December 2023 quarter surged to Rs 85,185 crore from Rs 78,242 crore in the same period last year. In a BSE filing, the bank said it has been giving continued thrust on advances to priority sectors like agriculture, micro, small and medium enterprises, and housing constituting 75 per cent of the Adjusted Net Bank Credit (ANBC) which is above the regulatory requirement of 40 per cent. During the quarter ending on December 31, 2023, the bank said it had opened six branches and a new current account scheme 'TMB RERA Current Acco