Tamilnad Mercantile Bank Q2 FY25 Financial Results

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 567 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 and Half Year Ended September 30,2024 in their meeting held at Thoothukudi on 28.10.2024. Shri. Salee S Nair, Managing Director and CEO of the bank declared the results. Executive Director, Chief Financial Officer, General Managers and other senior officials of the Bank were also present at the event.

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

Bank’s Performance Highlights (Year on Year)

• Operating Profit has improved to ₹465 crore from ₹365 crore, registering a growth of 40%
• Net profit has surged to ₹303 crore from ₹274 crore, up by 58%.
• The NIM has increased to 25% from 4.10%, an increase by 15 bps.
• Non Interest Income has improved to ₹227 crore from ₹156 crore, an increase of

45.51%.

• Gross NPA has decreased to 37% from 1.70%, improved by 33 bps.
• Net NPA has decreased to 46% from 0.99%, improved by 53 bps.
• PCR has increased to 40% from 41.96%
• Total SMA to Gross Advances has reduced to 16% from 5.59%, came down by

143 bps.

• ROA has improved to 94% from 1.89%
• The CRAR % has increased to 59% from 26.04%, improved by 355 bps.
• Book value of share has increased to ₹532 from ₹466

(₹ in Crores)

Parameters	Sept 2023 (Q2)	Sept 2024 (Q2)	Growth – YoY %
CASA	13,172	13,873	5.32%
Total Deposits	47,314	49,342	4.29%
Total Advances	37,778	42,533	12.59%
Total Business	85,092	91,875	7.97%
Retail, Agri & MSME (RAM)	34,267	39,277	14.62%
Networth	7,384	8,430	14.17%
Book Value (₹)	466.30	532.37	14.17%
Gross NPA	1.70%	1.37%	-33 bps
Net NPA	0.99%	0.46%	-53 bps
ROA (Annualised)	1.89%	1.94%	5 bps
EPS (₹) (Not Annualised)	17.27	19.15	10.89%
CRAR	26.04%	29.59%	–

• The Bank’s deposits has increased to ₹49,342 crores (PY ₹47,314 crores)
• The advance level of the Bank has increased to ₹42,533 crores with a growth rate of 59% as YOY basis.
• The Net Interest Income is at ₹596 Crores for the quarter Q2FY25 as against

₹533 for Q2FY24 registering a growth rate of 11.89%.

• The Bank’s Networth increased to ₹8430 crores (PY ₹7384 crores) with an absolute rise of ₹1046 crores registering a growth rate of 17%.
• The RAM segment has increased to 92% for the Q2FY25 as against 91% for

New Branch Opening

The Bank has opened 15 New Branches during H1FY25.

New Initiatives / Developments:

The Bank has gone live with GST Payment facility for its customers.

Shri. Salee S Nair has Joined the Bank as a MD & CEO on 29.08.2024 from SBI. Prior to this appointment, he served as Deputy Managing Director & Chief Credit Officer at SBI.

Shri. Vincent Menachery has Joined the Bank as Executive Director on 27.09.2024 from SBI. Prior to this appointment, he served as Chief General Manager at SBI.

The Bank remains committed to deliver the value to its stakeholders.