Tamilnad Mercantile Bank net grows 141% in April-September to Rs 62.74 cr

The bank's gross non-performing assets during the first six months of the year stood at Rs 1346.65 crore, or 4.91 per cent of its gross advances

Private sector lender Tamilnad Mercantile Bank (TMB) on Tuesday reported a net profit of Rs 62.74 crore for the first six months of the financial year (April-September), 141 per cent higher than the Rs 151.07-crore profit it posted for the same period a year earlier.

The bank’s total business during the period under review stood at Rs 60,852.48 crore, 11.70 per cent higher on a year-on-year basis, TMB said. Its deposits and advances were Rs 34,068.80 crore and Rs 26,783.68 crore, respectively.

TMB’s gross non-performing assets (NPAs) during the period grew to Rs 1346.65 crore, 4.91 per cent of its gross advances,