A 100-year-old Tamilnad Mercantile Bank reinvents itself with technology

Plagued by boardroom squabbles and financial trouble, Tamilnad Mercantile Bank was seen by some as ossified, community-based relic of the past. Now modern technology centre offers a glimpse of future

Ambattur near Chennai, home to around 1,800 automobile part makers, is considered South Asia’s largest industrial estate. In the last few years, this industrial cluster has undergone a makeover and is now a humming data centre hub.

 

At the heart of this ecosystem is the Kosmo One Business Park, one of the largest IT parks in the region, owned by the Blackstone Group. In April, this modern tech park saw a surprise new entrant — the 104-year-old Tamilnad Mercantile Bank (TMB), one of the oldest private sector banks in India.

 

The bank, often criticised for persistent legacy issues, moved to