Tamilnad Mercantile Bank Ltd Share Price – NSE /  BSE

Banks, Small Cap

Net interest income (NII) increased by 11.82% year on year (YoY) to Rs 596crore in the quarter ended 30 September 2024. Net interest margin (NIM) increased to 4.25% in Q2 FY25 from 4.10% in Q2 FY24, an increase by 15 bps.

Operating profit gained 27.4% to Rs 465 crore in Q2 FY25 from Rs 365 crore posted in Q2 FY24.

On the asset quality front, gross non-performing assets (NPAs) amounted to Rs 584.45 crore as of 30 September 2024 as against Rs 643.84 crore as on 30 September 2023 and Rs 587.66 crore as on 30 June 2024.

Gross NPA ratio was 1.37% as of 30 September 2024 as against 1.70% as on 30 September 2023. Net NPA ratio was 0.99% as of 30 September 2024 as against 0.46% as on 30 September 2023.

Provision coverage ratio (PCR) stood at 92.56% as of 30 September 2024.

Deposits of the bank stood at Rs 49,342 crore as of 30 September 2024, recording a growth of 4.29% YoY. Total advances of the bank stood at Rs 42,533 crore as of 30 September 2024, up by 12.59% YoY.

CRAR stood at 29.59 as at 30 September 2024 as against 26.04% as of 30 September 2023.

Tamilnad Mercantile Bank is one of the renowned old private sector banks. TMB has a pan India presence with 536 branches, 1,149 ATMs and 324 CRMs.

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Net profit of Tamilnad Mercantile Bank rose 10.85% to Rs 303.18 crore in the quarter ended September 2024 as against Rs 273.51 crore during the previous quarter ended September 2023. Total Operating Income rose 10.61% to Rs 1337.41 crore in the quarter ended September 2024 as against Rs 1209.16 crore during the previous quarter ended September 2023.

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Tamilnad Mercantile Bank will hold a meeting of the Board of Directors of the Company on 28 October 2024.

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Shri.Vincent Menachery Devassy, pursuant to the approval of the Reserve Bank of India has joined Tamilnad Mercantile Bank as Whole-Time Director (Executive Director) of the Bank with effect from 27 September 2024.

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