Tamilnad Mercantile Bank's Q2 net rises 37.15% to Rs 262.3 crore

Tamilnad Mercantile Bank’s (TMB) net profit rose by 37.15 per cent year on year (YoY) to Rs 262.3 crore in the quarter ended September (Q2FY23), on the back of an improvement in its net interest income (NII).

The private sector lender had posted a net profit of Rs 190.74 crore in (Q2FY22), according to a filing with the BSE. The bank’s stock was trading 5.33 per cent higher at Rs 513.7per share on BSE on Thursday.

TMB’s NII was up 15.6 per cent YoY in Q2FY23 at Rs 508.16 crore. The lender's non-interest income dipped to Rs 144.8 crore in Q2FY23 from