Latest news with #TMB
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Business Standard
19 hours ago
- Business
- Business Standard
TMB eyes home advantage in Thoothukudi's investment wave; to tap MSMEs
Tamilnad Mercantile Bank (TMB) has said that, as a local bank, it is betting big on tapping more salary accounts and the micro, small, and medium enterprises (MSME) segment lending opportunities, as Thoothukudi is witnessing a boom in investments to the tune of over Rs 1 trillion, driven by global majors like Vietnam's electric vehicle maker VinFast and Singapore's Sembcorp. The Thoothukudi-based bank has maintained its business growth outlook of 14 per cent for the current financial year, owing to its growth initiatives in the last year, including technology upgrades. The bank said that its focus area will be the Retail, Agriculture, and MSME (RAM) segment, as it accounts for 93 per cent of its total advances. Including VinFast and Sembcorp, Thoothukudi is expected to witness investments to the tune of Rs 1 trillion in the next few years. The bank's strategy is to attract salary business, in addition to developing a strong footprint in the supplier ecosystem of large players, which mainly includes MSMEs. "Action in Thoothukudi is something that we will certainly try and leverage to our benefit as the hometown bank in Thoothukudi. Not just salary accounts. We are also looking to re-establish our footprint in the MSME area. That is where I see a lot of potential for CASA," said Salee S Nair, managing director and chief executive officer of TMB. He added that the bank has increased its engagement with Thoothukudi port too and has also been enrolled in the National Logistics Portal recently. Nair said that during the second half of the financial year, the bank will start reaping benefits from initiatives like establishing MSME hubs, expanding its branch network, and improving technology, among others. After Nair took charge in August 2024, the bank roped in global consultancy firm McKinsey to develop its MSME strategy, mainly to bring in innovative solutions and improved lending capabilities. Its transformation initiatives also include the revamping of CRM systems, upgrading internet banking, and giving more focus to the gold loans portfolio. 'We expect the second half of the current fiscal to show the impact of all our initiatives. We may see over 10 per cent growth in deposits and 15 per cent growth in advances,' he said. The bank posted its highest-ever quarterly net profit of Rs 304.9 crore during the first quarter of the financial year 2025-26, up 6 per cent from Rs 287.3 crore during the April to June quarter of the last financial year. "We will look at corporates seriously after we put in place a system, both in terms of skill set and technology improvement," he added. At present, the corporate segment contributes to around 7 per cent of its advances. The bank's gross non-performing assets (NPA) improved by 22 basis points to 1.22 per cent from 1.44 per cent. Its net NPA also decreased to 0.33 per cent from 0.65 per cent, improving by 32 basis points during the first quarter of FY26. TMB's deposits increased to Rs 53,803 crore during the period, from Rs 49,188 crore last year. The advance level also increased to Rs 45,120 crore with a growth rate of 10.44 per cent on a year-on-year basis. The bank said that an increase of 4.5 per cent in CASA during the quarter is a positive sign. Nair mentioned that the bank is putting a lot of effort into improving its CASA. This includes appointing relationship managers to attract more current accounts and setting up an elite services group in Q1 to ensure personalised end-to-end service in select branches for high-value customers.
The Hindu
3 days ago
- Business
- The Hindu
Tamilnad Mercantile Bank Q1 net profit at ₹305 crore
Tamilnad Mercantile Bank Ltd., (TMB) has reported a 6.27% rise in standalone net profit for the June quarter reaching ₹305 crore, driven by continued growth in core lending and deposit business. The Gross non-performing asset (NPA) has decreased to 1.22% from 1.44%, reflecting an improvement of 22 bps. Similarly, the net NPA has decreased to 0.33% from 0.65%, an improvement of 32 bps. Total Special Mentions Account (SMA) to gross advances has reduced to 3.05% from 4.98%, marking a reduction of 193 bps. Meanwhile, the CRAR % has increased to 31.55% from 29.21%, improved by 234 bps. The bank also witnessed a steady business growth which has now crossed 9.86%. Deposits grew to ₹53,803 crore, while advances rose to ₹45,120 crore with a growth rate of 10.44% on Year over Year basis. The net interest income stood at ₹580 crore for the quarter QIFY26, compared to ₹567 crore for QIFY25, registering a growth rate of 2.29%. The bank's net worth also saw a healthy rise, reaching ₹9,328 crore with a rise of ₹1,084 crore registering a growth rate of 13.15%. As part of its ongoing transformation, TMB has undertaken several strategic initiatives. Among them is the implementation of Oracle CX, an integrated sales service platform to streamline customer lifecycle management. Vendor Management System, an unified platform for bank wide expenses management has been introduced (excluding HR functions). Additionally, the adoption of Business Process Management (BPM), represents a strategic shift towards becoming a fully digital, process driven bank.
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Business Standard
4 days ago
- Business
- Business Standard
TMB's net profit up 6% in Q1, driven by strong lending and deposit growth
Thoothukudi-headquartered Tamilnad Mercantile Bank (TMB) has posted its highest-ever quarterly net profit of Rs 304.9 crore during the first quarter of financial year 2025-26, up 6 per cent from Rs 287.3 crore during the April to June quarter of the previous financial year. Total income grew 7 per cent to Rs 1,617 crore during the quarter under review, compared to Rs 1,515 crore in June 2024. 'We have achieved the highest-ever quarterly net profit in Q1FY26, driven by continued growth in our core lending and deposit businesses. We remain committed to our strategic priorities of expanding our reach and enhancing customer experience," said Salee S. Nair, Managing Director and Chief Executive Officer of TMB. The bank's deposits increased to Rs 53,803 crore during the period, up from Rs 49,188 crore last year. Advances also increased to Rs 45,120 crore, reflecting a growth rate of 10.44 per cent on a YoY basis. Net Interest Income for the quarter stood at Rs 580 crore for Q1FY26, compared to Rs 567 crore for Q1FY25, registering a growth rate of 2.29 per cent. The bank's net worth increased to Rs 9,328 crore, up from Rs 8,244 crore last year, reflecting an absolute rise of Rs 1,084 crore, or a growth rate of 13.15 per cent. The RAM (Retail, Agri, and MSME) segment increased to 93.31 per cent for Q1FY26, compared to 92.07 per cent for Q1FY25. "In this year, we have opened 7 new branches in this quarter across key markets, further strengthening our distribution network. We have also entered into several strategic partnerships for the digital transformation of the bank, increasing operational efficiency, and enhancing customer growth. We believe that these strategic initiatives, coupled with our focus on responsible lending and cautious risk management practices, will pave the way for sustainable and profitable growth in the years to come," said Nair.
Business Standard
02-07-2025
- Business
- Business Standard
Tamilnad Mercantile Bank total deposits jump 9% YoY to Rs 53,803 cr in June'25
Tamilnad Mercantile Bank reported 9.38% increase in total deposits to Rs 53,803 crore as on 30th June 2025 compared with Rs 49,188 crore as on 30th June 2024. Total business rose 9.86% to Rs 98,823 crore as on 30th June 2025, compared with Rs 90,041 crore as on 30th June 2024. CASA increased 4.51% to Rs 14,411 crore as on 30th June 2025 as against 13,789 crore as on 30th June 2024. Gross advances stood at Rs 45,120 crore, up 10.44% as on 30th June 2025 compared with Rs 40,853 crore as on 30th June 2024. Tamilnad Mercantile Bank (TMB) is one of the renowned old private sector banks, having its headquarters in Thoothukudi (Tamil Nadu). The bank has opened 26 new branches during the year FY 24-25. The banks net profit rose 15.35% to Rs 291.90 crore on 8.78% increase in total income to Rs 1,542.06 crore in Q4 March 2025 over Q4 March 2024. The counter shed 0.68% to Rs 448.15 on the BSE.
The Star
25-06-2025
- Automotive
- The Star
How Barcelona's buses are helping to spot bad drivers
Barcelona's public transport system is testing AI to help detect vehicles obstructing reserved lanes and stops. — Unsplash In collaboration with the city council, Barcelona's transport company (TMB) has launched an innovative pilot project designed to improve the flow of bus traffic in the city. The project is based on a solution tried and tested in New York, which involves equipping certain buses with cameras paired with artificial intelligence capable of detecting vehicles obstructing the flow of public transport. For the moment, the project concerns four buses on the H12 and D20 lines. They have been fitted with front cameras, paired with an artificial intelligence system developed by the American company Hayden AI. This system automatically detects vehicles parked illegally in bus lanes or at bus stops by analyzing the environment around the bus in real time. Bus lanes are essential to guaranteeing the reliability and speed of the service. Static infringements affect safety and slow down buses. Cars parked near bus stops also impede access for users with reduced mobility. Every time an infringement is detected, cameras installed at the front of the buses concerned record photos and video footage. However, no license plates or faces are recorded; only anonymized statistical data are transmitted, in compliance with the General Data Protection Regulation (GDPR). So far, 2,500 violations have been identified in one month, but no fines have been issued. The pilot phase is scheduled to last six months, with the aim of integrating the system into the entire fleet and potentially introducing sanctions. The system developed by Hayden AI has already been tried and tested in the USA, where it is fitted to bus fleets in New York, Los Angeles, Washington and Oakland. By the end of 2024, more than 1,000 buses in New York had been equipped with this technology. Since 2019, more than 438,000 violation notices have been issued for vehicles driving in bus lanes. In five years, the authorities have seen an average 5% increase in public transport speed, as well as a 20% reduction in collisions and an estimated 5% to 10% drop in CO2 emissions, depending on the neighborhood. – AFP Relaxnews
