Tamilnad Mercantile Bank Q1 profit rises 35% to ₹412cr
Business
Tamilnad Mercantile Bank (TMB) just had a standout first quarter, with net profit soaring 35% to ₹412 crore compared to last year.
The boost came mainly from big growth in retail and agricultural loans, which jumped 36% and 30%, helping total advances reach ₹57,306 crore.
TMB deposits nearly 20% NII +32%
TMB's deposits climbed nearly 20%, hitting ₹64,409 crore, while net interest income rose 32% to ₹765 crore.
The bank also kept its asset quality solid: gross NPAs dropped to just 0.73%.
TMB added six new branches this quarter and plans to invest around ₹280 crore in FY27 (the current financial year) in tech upgrades like cybersecurity and automation, so expect a smoother banking experience ahead.