The total business of Tamilnad Mercantile Bank (TMB) has grown by 14.28% on Year on Year (YoY) basis, with the business increasing to ₹1,07,470 crore from ₹94,042 crore in previous year. The bank has also reported that the net profit has surged to ₹342 crore from ₹300 crore.
The bank has been operating across India with 614 branches as on last January 31 and 12 regional offices across 17 states and four union territories, serving more than 5.3 million customers.
On a YoY basis, the deposits at the bank grew by 12.53%. The bank’s CASA has increased to ₹15,847 crore with a growth rate of 14.94%.
In addition, the operating profit has surged to ₹468 crore from ₹408 crore. Net Non Performing Assets (NPA) has decreased to 0.20% from 0.41%, improved by 21 bps. Meanwhile gross NPA has decreased to 0.91% from 1.32%, improved by 41 bps.
The bank’s net worth has increased to ₹9,774 crore with an absolute rise of ₹1,059 crore registering growth rate of 12.15%.
