Page 3 - Tamilnad Mercantile Bank

TMB failed to file details of Rs 3,610 cr deals due to tech glitch: sources

The bank has now submitted all the required documents, may not invite any penalty

IT wing conducts 'spot verification' at head office of Tamilnad Mercantile

The Intelligence and Criminal Investigation of the Income Tax department has undertaken a 'spot verification' at the head office of over century-old private sector Tamilnad Mercantile Bank, the bank said on Tuesday. The business operations of the bank continued, as usual, today and were not impacted due to the verification, Tamilnad Mercantile Bank said. "We hereby notify that the Intelligence and Criminal Investigation Directorate of Income Tax, Chennai, is conducting a spot verification of statutory compliances under section 285BA of the Income Tax Act, 1961 at our head office," the Thoothukudi-based bank said in a BSE filing. The bank is fully cooperating with officials during the ongoing proceedings and responding to the clarifications and details sought by them, the bank said in its response. "We will comply with our legal obligation for disclosure from time to time," it said. Tamilnad Mercantile Bank posted an 11.45 per cent rise in its net profit for the fourth quarter end

Tamilnad Mercantile Bank net profit up 11% in Q4 of FY23, expenditure rises

Board recommends final dividend of Rs 5 per equity share, in addition to interim of Rs 5 per share paid before

Tamilnad Bank to keep focus on small biz lending, open 25 new branches

RBI in October 2022 lifted its three-year ban on lender from opening new branches

Tamilnad Mercantile Bank posts Q3 net of Rs 279 cr; income at Rs 1,172 cr

The total business of the bank at the third quarter ended December 31, 2022 stood at Rs 78,242 crores with a growth rate of 5.69 per cent

Plan to open more branches across country, says TMB CEO S Krishnan

Private sector Tamilnad Mercantile Bank Ltd (TMB) has drawn up plans to strengthen itself by opening up additional branches across the country in the near future, said a top official of the bank on Friday. The over-a-century old bank recently inaugurated its 510 and 511th branches here and in Salem respectively. "Upon being listed on the stock exchanges, Tamilnad Mercantile Bank Ltd is back to enrich our vision in expanding the network pan-India. The bank has opened its 510th and 511th new branches in Tamil Nadu. We have plans to also open many more in the near future...," said managing director and CEO of the bank S Krishnan in a statement. The Tamil Nadu-based bank currently has presence across 16 States and four Union Territories and serves over 5 million customers.

RBI authorises Tamilnad Mercantile Bank to undertake government business

Private sector lender Tamilnad Mercantile Bank (TMB) on Wednesday said it has been authorised by the Reserve Bank of India to undertake government business on behalf of the banking regulator. An agreement in this connection was signed by the bank with RBI in Mumbai for appointing TMB as an 'agency bank' of RBI to undertake government agency business. "On getting listed in the stock exchanges, Tamilnad Mercantile Bank Ltd is back to enrich our vision in expanding the network pan India with added features in the products and services," the bank's managing director and CEO S Krishnan said in a press release. "It gives me immense pleasure in sharing this appointment by RBI to all our stakeholders," he added. TMB is one of the oldest private sector banks with a history of over 100 years, having been established in 1921 as Nadar Bank. The bank offers a wide range of services primarily to micro, small and medium enterprises, agricultural and retail customers. The bank had reported 37.1 p

Max Life partners with Tamilnad Mercantile Bank to offer life insurance

Through this tie-up, the two firms aim to financially secure the lives of TMB's customers across 500 bank branches by offering a comprehensive suite of savings, protection and retirement plans

Tamilnad Mercantile Bank's Q2 net rises 37.15% to Rs 262.3 crore

TMB's NII was up 15.6 per cent YoY in Q2FY23 at Rs 508.16 crore

RBI lifts ban on new branches by Tamilnad Mercantile Bank

At present, the bank has 509 branches -- 106 rural, 247 semi-urban, 80 urban and 76 in metropolitan

TMB stock ends flat as RBI rejection of proposed chairman has little impact

RBI advised private sector lender to submit a fresh proposal of another Independent Director for the post of Chairman

Post-IPO, Tamilnad Mercantile Bank to up focus on RAM, go on phygital mode

TMB's IPO was subscribed 2.86 times on the last day of subscription

Sensex down 413pts, Nifty holds 17,850; Ceat soars 20%, MRF 7%; IT stks dip

CLOSING BELL: IT, pharma, and select metal stocks reeled under pressure today with Hindalco, Infosys, Cipla, Tech M, Tata Steel, Divis Labs, and Apollo Hospitals leading the list of Nifty losers

Tamilnad Mercantile Bank makes a muted debut; lists at par with issue price

The stock listed at Rs 510 on the BSE, while it listed with a 6 per cent discount on the NSE

Stocks to Watch: SBI, PVR, Tata Power, Tamilnad Mercantile Bank, CE Info

Stocks to Watch: Investors Gray Birch, Plenty PE & Multiples PE may sell up to 7.74 per cent stake in PVR today in a price range of Rs 1,852-1,929/share, as per reports

Tamilnad Mercantile Bank IPO subscribed 2.9x on strong retail interest

Response muted when compared to previous two IPOs; Lender to issue 15.84 million fresh shares via offering

Tech companies likely to lead primary market revival in India: HSBC

Thus far in calendar year 2022, Indian companies have raised over 40,000 crore from the primary markets via the IPO route, data from PRIME Database showed.

Sensex slips 168 pts, Nifty below 17,650; Ultratech up 4.5%, TaMo down 2.5%

The resilience of the broader markets, however, continued on the bourses with the BSE MidCap and SmallCap indices advanced 0.5 per cent and 0.75 per cent, respectively

Tamilnad Bank IPO subscribed 1.5x on Day 2, issue closes Wednesday

The priced band for the IPO is Rs 500-525 per share

Analysts say 'subscribe' to Tamilnad Mercantile Bank IPO: Read to know why

Tamilnad Mercantile Bank's dedicated customer base, strong financial track record, healthy asset quality and reasonable valuation make analysts bullish on its IPO