Tamilnad Mercantile Bank Reports Robust Growth Across Key Business Metrics in Q2

Tamilnad Mercantile Bank (TMB) has announced impressive growth across its key business segments for the second quarter. The bank's performance demonstrates strong momentum in its core operations, with double-digit growth in total business, advances, and deposits.

Total Business Surges Past ₹1 Lakh Crore Mark

TMB's total business reached a significant milestone, crossing the ₹1 lakh crore mark to stand at ₹1,02,417.00 crores. This represents a substantial year-on-year growth of 11.47% compared to ₹91,875.00 crores reported in the same period last year. The bank also showed quarter-on-quarter growth of 3.53% from ₹98,923.00 crores.

Robust Growth in Advances and Deposits

The bank's total advances grew to ₹46,996.00 crores, marking a 10.49% increase from the previous year's figure of ₹42,533.00 crores. On a sequential basis, advances improved by 4.16% from ₹45,120.00 crores.

Total deposits stood at ₹55,421.00 crores, showcasing a strong year-on-year growth of 12.32% compared to ₹49,342.00 crores. The quarter-on-quarter growth in deposits was 3.01%, up from ₹53,803.00 crores.

CASA Performance

TMB's Current Account Savings Account (CASA) deposits, an important indicator of a bank's ability to gather low-cost funds, reached ₹15,163.00 crores. This represents a year-on-year growth of 9.30% from ₹13,873.00 crores and a quarter-on-quarter increase of 5.22% from ₹14,411.00 crores.

Key Performance Indicators

Particulars	Amount (₹ in Crore)	Y-o-Y Growth (%)	Q-o-Q Growth (%)
Total Business	102,417.00	11.47	3.53
Total Advances	46,996.00	10.49	4.16
Total Deposits	55,421.00	12.32	3.01
CASA	15,163.00	9.30	5.22

The bank's consistent growth across all key metrics indicates a robust performance in the second quarter. TMB's ability to expand its business volume, coupled with growth in both advances and deposits, suggests a positive outlook for the bank's operations.

It's worth noting that these figures are provisional and subject to limited review by the bank's Statutory Central Auditors. As Tamilnad Mercantile Bank continues to strengthen its market position, investors and stakeholders will likely keep a close eye on the bank's performance in the coming quarters.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+1.59%	+2.30%	+8.11%	+2.73%	+5.94%	-10.27%

Tamilnad Mercantile Bank (TMB) has announced a strategic partnership with Wegofin Digital Solutions Pvt. Ltd. to launch Banking-as-a-Payment Aggregator (BAPA) services, targeting MSMEs, startups, and enterprises. This collaboration marks a significant milestone in TMB's digital transformation journey, introducing innovative financial solutions to empower businesses across India.

Key Highlights of the Partnership

AcquireX & DisburseX Platforms: TMB will leverage Wegofin's RBI-compliant SaaS platforms for merchant onboarding, automated bulk disbursements, and streamlined UPI transactions with real-time settlement and reconciliation.
AI-Powered Risk Engine: The partnership features an AI-powered risk engine with an industry-leading fraud detection accuracy rate of 83.21% and sub-minute flagging capabilities, enhancing TMB's security, compliance, and operational resilience.
Enhanced Financial Services: Through this collaboration, TMB aims to strengthen its role as a trusted banking partner while enabling seamless UPI merchant acquiring, automated payouts, and fraud risk management.

Strategic Benefits

The partnership is expected to drive CASA growth and create new non-interest income streams for TMB. By adopting the BAPA model, TMB is positioning itself to drive digital adoption, broaden financial access, and strengthen its role in supporting India's growing digital economy.

Leadership Perspectives

Mr. Salee S Nair, MD & CEO of Tamilnad Mercantile Bank, stated, "This partnership with Wegofin marks a pivotal step in TMB's journey of transformation in the digital space. By embracing the Banking-as-a-Payment Aggregator model, we are strengthening our ability to serve businesses of all sizes with innovative, secure, and scalable financial solutions."

Mr. Prabhu Kumar, Founder & CEO of Wegofin, added, "We are delighted to collaborate with TMB, a trusted name in the Indian banking system, to advance financial inclusion and digital adoption. This partnership is a leap forward in building smarter, compliance-focused financial ecosystems that empower enterprises."

About Tamilnad Mercantile Bank

Tamilnad Mercantile Bank Limited, with over 100 years of history, has a strong presence across India. The bank operates 594 branches spanning 17 states and 4 Union Territories, serving more than 5.30 million customers. TMB's collaboration with Wegofin underscores its commitment to combining traditional banking strengths with modern fintech innovations.

This strategic partnership between TMB and Wegofin is set to revolutionize digital banking and financial services for businesses, marking a significant step in the bank's digital transformation journey and its efforts to support India's evolving financial landscape.