Tamilnad Mercantile Bank has successfully launched an online collection facility for Employees' Provident Fund (EPF) payments through its Internet Banking platform. The facility features direct integration between the EPFO portal and TMB's Internet Banking application, marking an important milestone in the bank's digital transformation journey.

Launch Event and Key Attendees

The facility was formally launched at a function presided over by TMB's Executive Director, Shri Vincent Menachery Devassy. The event was graced by Chief Guest Smt. Kavitha N. George, Additional Central PF Commissioner, Chennai. Senior officials from the Employees' Provident Fund Organisation (EPFO), Delhi, including Shri A.K. Paliwal, Regional Provident Fund Commissioner, and Shri Kapil Anand, Accounts Officer, attended the event virtually along with senior TMB executives.

Key Features and Benefits

The new online EPF payment facility enables specific customer segments to remit EPF contributions digitally:

With this facility, eligible customers can remit EPF contributions, including monthly salary deductions of employees, directly through TMB Internet Banking without the need to visit bank branches. This digital solution addresses the needs of TMB account holders who were previously making EPF payments through other banks.

Strategic Digital Expansion

Executive Director Shri Vincent Menachery Devassy highlighted that TMB has already implemented online payment facilities for CBDT, GST, and ICEGATE. The addition of EPF payments further strengthens the bank's digital offerings and demonstrates its commitment to enhancing customer convenience through digital integration.

The bank plans to actively popularise this facility among customers and focus on increasing the number of EPF payments routed through TMB's platform.

Industry Impact and Future Outlook

Chief Guest Smt. Kavitha N. George emphasized the facility's benefits for TMB customers and highlighted the need to educate customers on using this digital facility. She stressed the importance of popularising EPF payment adoption among MSME customers, enabling more enterprises to remit EPF contributions for their employees through TMB Internet Banking.

About Tamilnad Mercantile Bank

Tamilnad Mercantile Bank Limited is one of the renowned Old Private Sector Banks with headquarters in Thoothukudi, Tamil Nadu. The bank has a history of over 100 years with strong fundamentals and a track record of continuous profit making in the industry. TMB maintains a Pan India presence with 601 branches and 12 Regional Offices across 17 states and 4 Union Territories, serving more than 5.30 million customers.

Tamilnad Mercantile Bank Limited has announced the opening of five new branches across multiple states and reported strong financial performance, marking significant developments in its expansion strategy. The bank informed stock exchanges about these developments through regulatory filings under SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Branch Expansion Details

The bank's expansion strategy encompasses four states, with a strong focus on Tamil Nadu and strategic entries into Karnataka and Gujarat markets. The new branches will strengthen the bank's presence in key commercial and residential areas.

Key Appointments

The bank has appointed Thiru S Balasubramanian, Deputy Vice President, as the data protection officer effective December 26, 2025. This appointment reflects the bank's commitment to data governance and regulatory compliance in the digital banking era.

Financial Performance Highlights

Tamilnad Mercantile Bank reported robust growth in its total business for the second quarter of the current financial year. The bank's operational metrics demonstrate strong momentum across key parameters.

Market Performance

The bank's shares closed at ₹504.15 on Friday, December 26, down 1.59% from the previous trading session, reflecting normal market fluctuations despite the positive operational developments.

Strategic Positioning

The selected locations reflect the bank's focus on both urban and semi-urban markets. The Coimbatore branches target the textile and industrial belt of Tamil Nadu, while the Davanagere branch positions the bank in Karnataka's agricultural and commercial center. The Ahmedabad location provides access to Gujarat's thriving business ecosystem, and the Kanyakumari branch serves the southern tip of Tamil Nadu.

The Velandipalayam branch is scheduled to commence operations on December 29, 2025, while the bank has not disclosed specific opening dates for the remaining four branches in the regulatory filing.