TMB aims to achieve Rs 1 lakh crore turnover in next four yrs

Aiming to become a pan-India entity, Tamil Nadu Mercantile Bank (TMB) plans to have 800 branches from the existing 383 in six states in the next four years, targeting a business turnover of Rs 1 lakh crore, a top bank official said today.
The bank expects to have a business turnover (both advances and deposits) of Rs 50,000 crore this fiscal and after ramping up the branches, the turnover would touch Rs 1 lakh crore, H S Upendra Kamath, Managing Director and CEO of TMB told reporters here.
In the first phase, branches would be added to the existing states of Tamil Nadu, Puducherry, Kerala, Karnataka, Andhra Pradesh, Telangana, Maharashtra and Gujarat in another 15 to 18 months, while states in the West, North and East would be covered in the remaining two and half years, Kamath said.

To lend to corporates in a big way, TMB would set up cells in major cities, including Mumbai, Delhi, Chennai, Coimbatore, Hyderabad and Bengaluru in another 45 days, he said.
Similarly, to reduce the time for clearing loans, the bank has set up centralised loan processing cells in a few cities, including Coimbatore, he said.
Stating that TMB has 15 per cent Capital Adequacy Ratio and there was no need to raise capital at the moment, Kamath said that as we go forward it would be considered.
On Non Performing Assets (NPA), the official said the gross NPA was 2.6 per cent in 2013, to the tune of Rs 380 crore, far below the national average of 4 to 4.5 per cent.

To a question on complaints of not holding Annual General Meetings (AGM), Kamath admitted that AGMs were not conducted for the last four years due to "some internal issues" and said once these were solved, "the bank will try to call it at the soonest.