Page 2 - Tamilnad Mercantile Bank

New FD schemes: RBL to TMB, mid-tier banks enter the great deposit chase

Launch special schemes to boost fund base

Tamilnad Mercantile Bank submits fresh names for MD, CEO post to RBI

At present, around 93 per cent of its business comes from the retail, agriculture, and micro, small and medium enterprise (MSME) sectors

Tamilnad Mercantile Bank Q1 results: Net profit rises 9.9% to Rs 287.29 cr

Over century-old private sector Tamilnad Mercantile Bank has recorded a 9.97 per cent rise in its net profit for the April-June 2024 quarter at Rs 287.29 crore on account of rise in interest income. The Tamil Nadu-based bank had registered a net profit of Rs 261.23 crore during the corresponding quarter of last year. For the financial year ending March 31, 2024 the net profit stood at Rs 1,072.03 crore. Total income during the April-June 2024 quarter went up to Rs 1,046.03 crore from Rs 942.98 crore registered in the year ago period. For the financial year ending March 31, 2024 the total income stood at Rs 5,492.85 crore. According to a press release, the bank's deposits rose to Rs 49,188 crore during the April-June 2024 quarter, from Rs 47,008 crore registered in the same quarter of last year. The advances of the bank has increased to Rs 40,853 crore with a growth of 10 per cent year-on-year basis. The Net Interest Income stood at Rs 567 crore for the April-June 2024 quarter, a

Tamilnad Mercantile Bank Q1 results: Net profit up 10% at Rs 287.3 crore

Total income has grown 15 per cent to Rs 1,515 crore during the quarter under review, from Rs 1,323 crore during the same period last fiscal

3 GMs to take charge of TMB operations after Sankarasubramaniam's exit

Krishnan had resigned from the post of MD and CEO of the Tuticorin-based bank, on September 28 last year, citing personal reasons

Tamilnad Mercantile Bank net profit falls flat at Rs 253 crore in Q4

The bank posted a net profit of Rs 284 crore for the October-December 2023 quarter

RBI rejects Tamilnad Mercantile Bank's proposal for CEO candidate

Bank has been asked to submit "fresh panel of candidates with suitable experience" for the position of chief executive

TMB shareholders take the legal route to fast track MD appointment

Krishnan Sankarasubramaniam, TMB's managing director and chief executive officer, resigned from his position on September 28, 2023. He continues to serve until a new appointment is confirmed

RBI imposes Rs 1.31 cr fine on Tamilnad Mercantile Bank for non-compliance

The Reserve Bank of India on Tuesday it has imposed penalties on DCB Bank and Tamilnad Mercantile Bank for non-compliance with certain directions related to 'interest rate on advances'. A monetary penalty of Rs 63.6 lakh has been imposed on DCB Bank, the RBI said in a statement. In a separate release, the central bank informed that a penalty of Rs 1.31 crore has been imposed on Tamilnad Mercantile Bank for non-compliance with certain directions issued by it on 'Interest Rate on Advances' and 'Central Repository of Information on Large Credits (CRILC) - Revision in Reporting'. In both cases, the RBI said the penalties were based on deficiencies in regulatory compliance and not intended to pronounce upon the validity of any transactions or agreements entered into by them with their customers.

RBI clears appointment of S Ravindran as part-time chairman of TMB

The approval is subject to Ravindran, stepping down from his directorships in Shriram Finance and Bandhan AMC, prior to assuming charge

Tamilnad Mercantile Bank non-exec director quits for 'compelling reasons'

Bank's performance and share price mute compared to peers, says P C G Asok Kumar

Tamilnad Mercantile Bank reports Rs 284 crore net profit in third quarter

The bank's total income increased by 18 per cent to Rs 1,387 crore during the quarter under review, compared with Rs 1,173 crore in the corresponding quarter last year

Tamilnad Mercantile Bank Q3 results: Profit rises marginally to Rs 284 cr

Private sector Tamilnad Mercantile Bank has reported a net profit of Rs 284 crore for the October-December 2023 quarter, the bank said on Monday. The Tuticorin-based bank had reported a net profit at Rs 280 crore during the corresponding quarter of the last financial year. The bank's total income during the quarter under review grew to Rs 1,387 crore from Rs 1,173 crore registered in the same period last year. The total business of the bank during the October-December 2023 quarter surged to Rs 85,185 crore from Rs 78,242 crore in the same period last year. In a BSE filing, the bank said it has been giving continued thrust on advances to priority sectors like agriculture, micro, small and medium enterprises, and housing constituting 75 per cent of the Adjusted Net Bank Credit (ANBC) which is above the regulatory requirement of 40 per cent. During the quarter ending on December 31, 2023, the bank said it had opened six branches and a new current account scheme 'TMB RERA Current Acco

Tamilnad Mercantile Bank finalises three candidates for MD and CEO post

It was at the end of September that the bank's MD and CEO, Krishnan Sankarasubramaniam, resigned from the post, citing personal reasons

Tamilnad Mercantile Bank Q2 net profit increases 5% to Rs 274 crore

The bank's total income during the period was up by 16 per cent, from Rs 1,141 crore in September 2022-23 to Rs 1,365 crore in the second quarter of FY24

Stocks to Watch: MCX, TCS, Reliance, Bank of Baroda, Titan, Liquor, sugar

Stocks to Watch on October 9, 2023: MCX has received approval from Sebi's technical advisory panel to shift to the new commodity derivative trading platform

Tamilnad Mercantile Bank MD & CEO Krishnan resigns, cites personal reasons

Krishnan also served as the MD and CEO of Punjab and Sind Bank from September 4, 2020 to May 31, 2022

Tamilnad Mercantile Bank Q1 results: Net profit up 12% to Rs 261 crore

The bank's total income during the period was up by 16 per cent, from Rs 1,142 crore in June 2022-23 to Rs 1,323 crore in the fourth quarter of FY24

Tamilnad Mercantile Bank reports Q1 net up by 11.53% at Rs 261.23 cr

Private sector Tamilnad Mercantile Bank has reported 11.53 per cent rise in its April-June quarter net at Rs 261.23 crore, the bank said on Monday. The Tuticorin-based over Century old bank had registered net profit at Rs 234.21 crore during the corresponding period of last year. Total business of the bank during the quarter under review grew by 9.40 per cent to Rs 84,300 crore as compared to Rs 77,056 crore registered in the corresponding quarter of last year, the bank said in a statement. The retail, agriculture and micro, small and medium enterprises (RAM) portfolio witnessed an increase of 12.86 per cent during April-June 2023 quarter at Rs 33,574 crore from Rs 29,749 crore registered in the same period of last year. During the quarter ending June 30, 2023 the bank said it opened six branches. To tap the emerging micro, small and medium enterprise market with focused attention, the bank said MSME Loan processing hub has been set up in Chennai, Madurai, Coimbatore and Tuticor

Stocks to Watch on July 3: HDFC twins, TMB, auto shares, SBI, Balaji Amines

Stocks to Watch on Monday, July 3: Post the approval of the merger between HDFC Bank and HDFC, the trading window in HDFC Ltd will remain closed till July 13