Bank's Financial Results for Quarter/Half-Year Ended September 30, 2024: Unaudited

Tamilnad Mercantile Bank Ltd (TMB), an old Private Sector Bank with headquarters in Thoothukudi, has a strong history of 102 years. TMB has 567 branches across India serving over 5 million customers. In a recent meeting, financial results for the Quarter and Half Year ended September 30, 2024, were approved. The bank's operating profit increased by 27. 40%, net profit surged by 10. 58%, NIM increased to 4. 25%, and non-interest income improved by 45. 51%. Additionally, the bank's key performance indicators such as NPA, ROA, CRAR %, and book value per share demonstrated positive growth. The bank also achieved growth in deposits, advances, net interest income, net worth, and RAM segment. Moreover, new branches were opened and GST Payment facility for customers was launched. New senior executives from SBI have also joined the bank recently.

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