Tamilnad Mercantile Bank Ltd. (TMB) reported a 6% rise in Q3 net profit to ₹300 crore from ₹284 crore in the year-ago period.
Net interest income grew 6.15% to ₹570 crore year on year (YoY).
Gross NPA decreased to 1.32% from 1.69%, improving by 37 bps. Net NPA decreased to 0.41% from 0.98%, improving by 57 bps. Provision coverage ratio (PCR) increased to 69.07% from 41.93%.
Advances by the bank during the quarter grew 13.71% to ₹43,650 crore. The RAM segment (retail, agriculture, MSME) grew 92% for the quarter compared with 91% in the year-ago period.
The bank said its deposits had increased to ₹50,392 crore as compared with ₹46,799 crore a year ago.
Salee S. Nair, MD & CEO, Tamilnad Mercantile Bank Ltd., said the growth in net profit was 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,” he added.
Published – January 29, 2025 08:58 pm IST
