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Tamilnad Mercantile Bank
Private sector Tamilnad Mercantile Bank is set to complete its digital transformation programme -- commenced last year -- in a phased manner within the financial year. Last year, the Tuticorin-based bank had earmarked Rs 150 crore to implement a range of technology-driven upgrades. These include development of Oracle Human Capital Management (HCM) software, Oracle CX-Customer Relationship Management (CRM) software, Vendor Management software for centralised expense management, and paperless automation of approvals. "A sophisticated net banking platform (DEH) has been designed to enhance digital banking experiences for both retail and corporate clients. Ongoing projects such as website and mobile banking revamps are slated for phased completion within the current financial year," the bank's MD and CEO Salee S Nair told PTI. The bank was also engaged in completely revamping the internet banking and have roped in IT major Infosys for this. "I think, by December end we should also have
Tamilnad Mercantile Bank on Friday reported a 6.27 per cent growth in net profit to Rs 305 crore for the first quarter ended June 30. The bank had a net profit of Rs 287 crore in the June quarter of the previous (2024-25) fiscal. Total income of Tamilnad Mercantile Bank rose to Rs 1,617 crore in the June quarter of FY'26, from Rs 1,515 crore in the corresponding period of FY'25. Gross non-performing assets (NPA) improved to 1.22 per cent of loans at the end of June 2025, as against 1.44 per cent in June 2024. Shares of Tamilnad Mercantile Bank closed at Rs 455.25, down 1.10 per cent over the previous close on BSE.
Private sector Tamilnad Mercantile Bank Ltd has reported a net profit of Rs 300.24 crore for the October-December 2024 quarter, up by 6 per cent, driven by continued growth in core lending and deposit businesses, a top official said on Wednesday. The Tuticorin-based bank had registered a net profit of Rs 284.23 crore during the corresponding quarter of last financial year. The net profit for the nine month period ending December 31, 2024 went up to Rs 890.71 crore, from Rs 818.97 crore registered in the year ago period. The total income during the quarter under review went up to Rs 1,519.94 crore from Rs 1,387.13 crore registered in the year ago period. For the nine month period ending December 31, 2024 the total income grew to Rs 4,599.69 crore as against Rs 4,075.24 crore registered in the corresponding period of last financial year. "We have achieved year-on-year growth of 6 per cent in net profit in Q3FY25, driven by continued growth in our core lending and deposit businesses. W
Private sector Tamilnad Mercantile Bank has reported a 10.84 per cent rise in its net profits for the July-September quarter at Rs 303.18 crore, the bank said on Tuesday. The Tuticorin-based over century-old bank had registered net profits of Rs 273.51 crore during the corresponding quarter of last year. For the six month period ending September 30, 2024 the net profits surged to Rs 590.47 crore, from Rs 534.74 crore registered in the year ago period. Total income during the quarter under review grew to Rs 1,564.88 crore, from Rs 1,365.22 crore registered in the corresponding quarter of last year. For the half year ending September 30, 2024 the total income went up to Rs 3,079.75 crore as against Rs 2,688.11 crore registered in the year ago period. In a statement, the bank said the Gross Non-Performing Assets (Gross NPA) decreased to 1.37 per cent by 33 basis points, from 1.70 per cent as on September 30, 2024 while net NPA fell to 0.46 per cent from 0.99 per cent. The Net Interes