Unaudited Financial Results of the Bank for the Quarter Ended June 30, 2024

Tamilnad Mercantile Bank Ltd (TMB) one of the renowned Old Private Sector Banks, having its Head Quarter in Thoothukudi has a long-cherished history of 102 years of eventful existence with strong fundamentals and an enviable track record of continuous profit making in the industry.

TMB having pan India presence with 565 branches and 12 Regional Offices across 17 states and 4 Union Territories serves more than 5 million delighted customers.

The Board of Directors of Tamilnad Mercantile Bank Ltd approved the Unaudited Financial Results of the Quarter Ended June 30,2024 in their meeting held at Thoothukudi on 02.08.2024. Shri. C. Chiranjeeviraj, Independent Director, who is authorized by the Board, declared the results and the Bank issued this press release.

The Bank continues to exhibit strong performance on all fundamental parameters.

Bank’s Performance Highlights

Ø Operating Profit has increased to₹469crore from₹380crore Y-o-Y

Ø Net profit has surged to₹287crore from₹261crore Y-o-Y

Ø The NIM has increased to4.12%from4.00%Y-o-Y

Ø Interest income has improved to₹1,281crore from₹1,156crore Y-o-Y

Ø Non Interest Income has improved to₹234crore from₹167crore Y-o-Y

Ø Total income has moved to₹1,515crore from₹1,323crore Y-o-Y

Ø The CRAR% has increased to29.21%from26.57%Y-o-Y

Ø Book Value of Share has increased to₹520from₹454Y-o-Y

Ø Total Business has increased to₹90,041crore from₹84,300crore Y-o-Y

Ø CASA has increased to₹13,789crore from₹13,101crore Y-o-Y

Ø The RAM segment has increased to92%from90%Y-o-Y

Ø Total SMA to Gross Advances has reduced to4.98%from7.16%Y-o-Y

Ø Stressed Assets ratio has decreased to2.55%from3.21%Y-o-Y

Q-O-Q Performance:

Ø The Bank’s deposits has increased to₹49,188crores (PY₹47,008crores)

Ø The advance level of the Bank has increased to₹40,853crores with a growth rate of10%as YOY basis.

Ø The Net Profit is at₹287crores for the quarter Q1FY25 as against₹261crores for Q1FY24 registering the growth rate of10%as YOY basis.

Ø The Net Interest Income is at₹567Crores for the quarter Q1FY25 as against₹514for Q1FY24 registering a growth rate of10%.

Ø Return on Asset at1.88%& Return on Equity at14.22%for the reporting quarter. (Q1 FY 241.85%and14.80%respectively)

Ø The Bank’s Net worth increased to₹8,244crores (PY₹7,190crores) with an absolute rise of₹1054crores registering a growth rate of15%.

New initiatives

• The Bank has opened 10 New Branches (6 Branches in Tamilnadu and 4 Branches in Other States) during the Q1FY25.
• The Bank has Launched an Online Customer Portal for Foreign Exchange Operations facilities to customers.
• The Bank has Launched “TMB Apartment Savings Bank Account” for High-Net-Worth individuals residing in apartment / housing society / gated community.
• The Bank has launched Online Demat Account opening platform for customers.

Awards:

• The Bank has baggedEightAtal Pension Yojana (APY) awards during the Current Quarter for its performance during Previous Financial Year.