Tamilnad Mercantile Bank Limited (TMB) has announced the opening of a new Non-Resident Indian (NRI) branch in Kochi, Kerala, marking a significant expansion of its services in the region. The branch, which commenced operations on September 23, is strategically located in the heart of Kochi's bustling Marine Drive area.

Branch Details

The new NRI branch is situated at:

• Address: D.No: 67/6169, 1st Floor, Elizabeth Alexander Memorial Building, Marine Drive, Kochi, Ernakulam District, Kerala – 682 031

This expansion aligns with TMB's strategy to strengthen its presence in key financial centers and cater to the growing needs of the NRI community.

Official Announcement

The bank officially notified the stock exchanges about this development on September 22, a day prior to the branch opening. Swapnil Yelgaonkar, Company Secretary & Compliance Officer of Tamilnad Mercantile Bank Limited, made the announcement in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Strategic Importance

The opening of an NRI-focused branch in Kochi is a strategic move for TMB, considering Kerala's significant NRI population and remittance inflows. This new branch is expected to enhance the bank's ability to serve the specialized banking needs of Non-Resident Indians, potentially boosting its NRI banking portfolio.

Market Impact

While the immediate market impact of this expansion remains to be seen, the move demonstrates TMB's commitment to growth and its focus on tapping into the lucrative NRI banking segment. Investors and market analysts may view this development as a positive step towards increasing the bank's footprint and diversifying its customer base.

As Tamilnad Mercantile Bank continues to expand its network, particularly in NRI-centric locations, it positions itself to capitalize on the growing demand for specialized banking services among the Indian diaspora. The success of this new branch could pave the way for further expansions in similar high-potential markets across India.

Tamilnad Mercantile Bank Limited (TMB) has announced significant amendments to its Articles of Association, following a board meeting held on September 18, 2025. The changes, which aim to align the bank's governance with current regulatory and statutory provisions, are subject to approval from the Reserve Bank of India (RBI) and shareholders through a special resolution via postal ballot.

Key Amendments

1. Director Age Eligibility

• The age range for director eligibility has been modified to between 35 and 75 years.
• This change applies to all directors except Whole-Time Directors.

2. Sitting Fees Structure

• The board now has discretion to decide sitting fees for directors attending Board or Committee meetings.
• Fees will be set within regulatory limits as per the Act and associated rules.

3. Travel Reimbursement

• Non-resident directors attending meetings will be entitled to reimbursement of travel and accommodation expenses.
• The reimbursement is subject to a maximum amount determined by the Board of Directors.

4. Notice Delivery Methods

• The bank has updated its notice delivery methods to include electronic means alongside traditional post/courier services.
• Notices will be sent to members' registered addresses or through prescribed electronic means.

5. Notice Service Effectiveness

• Notices sent by post/courier or electronic means will be deemed effective when properly addressed and sent.
• For meeting notices, service will be considered effective after 48 hours of posting.

Approval Process

The amendments approved by the Board of Directors are subject to two levels of approval:

1. Reserve Bank of India (RBI) approval
2. Shareholders' approval through a Special Resolution via Postal Ballot

Board Meeting Details

The Board meeting where these amendments were approved commenced at 10:30 A.M. and concluded at 09:30 P.M. on September 18, 2025.

These changes reflect TMB's efforts to modernize its governance structure and align with current regulatory standards. The amendments, particularly the inclusion of electronic communication methods and the flexibility in director age requirements, indicate the bank's adaptation to changing times and technologies in corporate governance practices.