TMB having pan India presence with 565 branches and 12 Regional Offices across 17 states and 4 Union Territories serves more than 5 million delighted customers. The Board of Directors of Tamilnad Mercantile Bank Ltd approved the Unaudited Financial Results of the Quarter Ended June 30,2024 in their meeting held at Thoothukudi on 02.08.2024. Shri. C. Chiranjeeviraj, Independent Director, who is authorized by the Board, declared the results and the Bank issued this press release.
The Bank continues to exhibit strong performance on all fundamental parameters.
Bank’s Performance Highlights
Operating Profit has increased to Rs.469 crore from Rs.380 crore Y-o-Y
Net profit has surged to Rs.287 crore from Rs.261 crore Y-o-Y
The NIM has increased to 4.12% from 4.00% Y-o-Y
Interest income has improved to Rs.1,281 crore from Rs.1,156 crore Y-o-Y
Non Interest Income has improved to Rs.234 crore from Rs.167 crore Y-o-Y
Total income has moved to Rs.1,515 crore from Rs.1,323 crore Y-o-Y
The CRAR% has increased to 29.21% from 26.57% Y-o-Y
Book Value of Share has increased to Rs.520 from Rs.454 Y-o-Y
Total Business has increased to Rs.90,041 crore from Rs.84,300 crore Y-o-Y
CASA has increased to Rs.13,789 crore from Rs.13,101 crore Y-o-Y
The RAM segment has increased to 92% from 90% Y-o-Y
Total SMA to Gross Advances has reduced to 4.98% from 7.16% Y-o-Y
Stressed Assets ratio has decreased to 2.55% from 3.21% Y-o-Y