Latest news with #TamilnadMercantileBank
Business Standard
4 days ago
- Business
- Business Standard
Tamilnad Mercantile Bank standalone net profit rises 6.13% in the June 2025 quarter
Total Operating Income rise 8.20% to Rs 1386.24 crore Net profit of Tamilnad Mercantile Bank rose 6.13% to Rs 304.89 crore in the quarter ended June 2025 as against Rs 287.29 crore during the previous quarter ended June 2024. Total Operating Income rose 8.20% to Rs 1386.24 crore in the quarter ended June 2025 as against Rs 1281.15 crore during the previous quarter ended June 2024. Particulars Quarter Ended Jun. 2025 Jun. 2024 % Var. Total Operating Income 1386.241281.15 8 OPM % 70.6567.46 - PBDT 403.92383.40 5 PBT 403.92383.40 5 NP 304.89287.29 6
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Business Standard
5 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.
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Business Standard
5 days ago
- Business
- Business Standard
Tamilnad Mercantile Bank Q1 profit rises 6% to ₹305 crore in FY26
Tamilnad Mercantile Bank on Friday reported a 6.27 per cent growth in net profit to ₹305 crore for the first quarter ended June 30. The bank had a net profit of ₹287 crore in the June quarter of the previous (2024-25) fiscal. Total income of Tamilnad Mercantile Bank rose to ₹1,617 crore in the June quarter of FY'26, from ₹1,515 crore in the corresponding period of FY'25. Gross non-performing assets (NPA) improved to 1.22 per cent of loans at the end of June 2025, as against 1.44 per cent in June 2024. Shares of Tamilnad Mercantile Bank closed at ₹455.25, down 1.10 per cent over the previous close on BSE.
Time of India
5 days ago
- Business
- Time of India
Tamilnad Mercantile Bank Q1 Results: Net profit up 6% to Rs 305 crore on lower provisions
Tamilnad Mercantile Bank reported a 6% YoY rise in Q1 net profit to ₹305 crore, aided by sharply lower provisions, despite a 12% fall in operating profit. NII and other income remained nearly flat, while asset quality improved. Tired of too many ads? Remove Ads Sharply lower provisions helped Tamilnad Mercantile Bank to report about 6% year-on-year rise in net profit for the first quarter while its pre-provision operating profit dipped 12% on flat net total profit for the quarter stood at Rs 305 crore against Rs 287 crore a year ago. Operating profit was at Rs 412 crore against Rs 469 crore. Provisions and contingencies were at Rs 8.3 crore as compared with 85.4 crore for the same bank's net interest income for the quarter was merely Rs 13 crore higher at Rs 579 crore as compared with Rs 566 crore in the year ago period. Other income was lower at Rs 231 crore against Rs 234 gross non-performing assets fell to 1.22% at the end of June from 1.44% a year back.
News18
5 days ago
- Business
- News18
Tamilnad Mercantile Bank reports 6 pc growth in Q1 net at Rs 305 cr
Agency: New Delhi, Jul 25 (PTI) Tamilnad Mercantile Bank on Friday reported a 6.27 per cent growth in net profit to Rs 305 crore for the first quarter ended June 30. The bank had a net profit of Rs 287 crore in the June quarter of the previous (2024-25) fiscal. Total income of Tamilnad Mercantile Bank rose to Rs 1,617 crore in the June quarter of FY'26, from Rs 1,515 crore in the corresponding period of FY'25. Gross non-performing assets (NPA) improved to 1.22 per cent of loans at the end of June 2025, as against 1.44 per cent in June 2024. Shares of Tamilnad Mercantile Bank closed at Rs 455.25, down 1.10 per cent over the previous close on BSE. PTI JD MR Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
