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Latest news about Tamilnad Mercantile Bank

Tamilnad Mercantile Bank Receives ₹17.88 Lakh GST Penalty from CGST Authorities 3 days ago

Tamilnad Mercantile Bank has been penalized ₹17.88 lakh by CGST authorities for GST violations during April 2018 to March 2021, comprising ₹3.14 lakh for "Less Previously Collected" and ₹14.75 lakh for TDS-related non-payment issues. The bank received the penalty order on January 1, 2026, and plans to appeal before the Commissioner of GST & Central Excise (Appeals). The bank has assessed the penalty as not material in nature and has made proper regulatory disclosures to stock exchanges in compliance with SEBI requirements.

Tamilnad Mercantile Bank Q3: Business grows 14.28%, deposits up 12.53% 4 days ago

Tamilnad Mercantile Bank: Introduces Online EPF Payment Option 10 days ago

Tamilnad Mercantile Bank Opens 5 New Branches, Reports Strong Q2 Growth 10 days ago

Tamilnad Mercantile Bank Appoints S. Balasubramanian as Data Protection Officer 10 days ago

More news about Tamilnad Mercantile Bank

23Dec 25

Tamilnad Mercantile Bank Partners With Rugr Fintech and Fin Meadows for UPI Enhancement

Tamilnad Mercantile Bank has formalized strategic partnerships with Rugr Fintech as a referral partner for Payment Aggregators and Fin Meadows Technologies as a Technology Service Provider for UPI switching. The collaboration leverages TechFini UPI Switch technology capable of processing up to 10,000 transactions per second, extending services to payment aggregators, NBFCs, and fintech partners with enhanced UPI Autopay capabilities for automated loan collections.

19Dec 25

Tamilnad Mercantile Bank Appoints Visvanathan Srinivasan as Additional Director

Tamilnad Mercantile Bank Limited has announced the appointment of Thiru Visvanathan Srinivasan as Additional Director by the Reserve Bank of India. Srinivasan, currently General Manager at RBI Chennai's Department of Payment and Settlement System, will serve for two years from December 20, 2025, to December 19, 2027. He replaces Thiru Thomas Mathew and brings 36 years of RBI experience to the role. Srinivasan will serve on key board committees including the Audit Committee and NPA Monitoring Committee.

28Nov 25

Tamilnad Mercantile Bank Completes Postal Ballot Process with Shareholder Approval

Tamilnad Mercantile Bank has successfully concluded its postal ballot process with shareholders approving key corporate governance resolutions. The bank received approval for appointing two Non-Executive Non-Independent Directors for a three-year term and amendments to its Articles of Association. The remote e-voting process ran from November 29 to December 28, 2025, with results declared on December 29, 2025, in compliance with SEBI regulations.

27Nov 25

Tamilnad Mercantile Bank Unveils Digital Loan Platform to Streamline Lending Process

Tamilnad Mercantile Bank (TMB) has introduced a new Loan Origination System called Finnone Neo, developed in partnership with Nucleus Software. The system aims to process loan sanctions up to Rs. 50 lakh within 30 minutes through automated processes. TMB also inaugurated its first Credit Management Centre in Thoothukudi. The implementation will occur over six months, covering MSME, Agriculture, and Retail loan segments. This move is expected to enhance loan processing efficiency, standardization, transparency, and regulatory compliance. TMB's financial metrics show growth in total assets and equity, providing a solid foundation for this technological investment.

19Nov 25

Tamilnad Mercantile Bank Appoints Two New Non-Executive Directors

Tamilnad Mercantile Bank (TMB) has appointed Thiru S.R. Aravind Kumar and Thiru R. Kodeeswaran as Additional Non-Executive Non-Independent Directors for three-year terms starting November 19, 2025, subject to shareholder approval. Kumar, with an engineering degree and MBA, has experience in IT and marketing. Kodeeswaran, a postgraduate in Commerce, is associated with VVD and Sons Private Limited and has expertise in managing diversified business portfolios.

07Nov 25

Tamilnad Mercantile Bank Secures RBI Approval for Articles of Association Amendments

Tamilnad Mercantile Bank (TMB) has received approval from the Reserve Bank of India for proposed amendments to its Articles of Association under the Banking Regulation Act, 1949. The approval was granted on November 7, 2025. TMB will seek shareholder approval for these amendments through a postal ballot process. The bank has also scheduled investor interactions with HNI and Aditya Birla Capital on November 17 and 18, 2025, respectively.

07Nov 25

RBI Approves Changes to Tamilnad Mercantile Bank's Articles of Association

Tamilnad Mercantile Bank (TMB) has obtained approval from the Reserve Bank of India (RBI) for proposed amendments to its Articles of Association (AOA). The approval, communicated on November 7, aligns with the Banking Regulation Act, 1949. TMB will seek shareholder approval for these changes through a Postal Ballot. The amendments, while not yet detailed, could affect governance structures, shareholder rights, and operational procedures.

07Nov 25

Tamilnad Mercantile Bank Adjusts MCLR Rates: Mixed Changes Across Tenors

Tamilnad Mercantile Bank (TMB) has announced changes to its Marginal Cost of Funds Based Lending Rate (MCLR), effective November 7, 2025. The three-month MCLR decreased by 10 basis points to 8.20%, while the six-month MCLR increased by 5 basis points to 8.75%. Overnight, one-month, and one-year rates remain unchanged at 7.50%, 7.50%, and 9.25% respectively. These adjustments may impact borrowing costs for customers with loans linked to these benchmarks.

03Nov 25

Tamilnad Mercantile Bank Pioneers AI-Driven HR Transformation with Oracle HCM Cloud Payroll

Tamilnad Mercantile Bank (TMB) has implemented Oracle HCM Cloud Payroll integrated with AI agents, in partnership with Kovaion Consulting. This move makes TMB the first in India's BFSI sector to adopt AI-powered automation for payroll and HR operations. The system includes cloud-enabled payroll capabilities and AI-driven employee self-service features, aimed at enhancing automation, accuracy, and employee experience. Key features include AI agents for absence management, reimbursements, and policy advisory, cloud payroll for operational efficiency, and AI-driven employee self-service. TMB, a 104-year-old private sector bank, serves over 5.3 million customers through 600 branches across India.

01Nov 25

Tamilnad Mercantile Bank Reports 11.40% Business Growth in Q2, Signals Revival

Tamilnad Mercantile Bank (TMB) reported robust Q2 results with 11.40% total business growth and 12.32% deposit growth. Net profit increased by 4.73% YoY to INR 318.00 crores. The bank maintained strong asset quality with 1.01% gross NPA and 0.26% net NPA. TMB opened its 600th branch and plans to add 30-36 more branches this year. The bank is investing INR 250.00 crores in IT modernization and expects 14-15% credit growth and 12-13% deposit growth going forward.

01Nov 25

Tamilnad Mercantile Bank Shareholders Approve K. Ramachandran as Part-Time Chairman with 99.84% Votes

Tamilnad Mercantile Bank (TMB) shareholders approved K. Ramachandran's appointment as Independent Director and Non-Executive Part-Time Chairman with 99.84% votes in favor. His remuneration is set at Rs. 18 lakh per annum. The bank also announced the appointment of Sathishkumar N. as Vice President of Information Technology and the retirement of Natarajan J., Vice President of the Business Intelligent Unit. Some shareholders' voting rights were restricted to 4.99% based on RBI orders.

31Oct 25

Tamilnad Mercantile Bank Announces Key Leadership Changes in IT and Business Intelligence

Tamilnad Mercantile Bank (TMB) has announced significant changes in its senior management team, effective October 31, 2025. Sathishkumar N, with 22 years of banking IT experience, has been appointed as Vice President of Information Technology. Simultaneously, Natarajan J, Vice President of the Business Intelligence Unit, will retire on the same date. These changes reflect TMB's focus on enhancing its technological infrastructure and adapting to the evolving digital banking landscape.

28Oct 25

Tamilnad Mercantile Bank Reports Strong Q2 Performance with 4.7% Profit Growth

Tamilnad Mercantile Bank (TMB) announced a 4.7% year-on-year increase in net profit to ₹318 crore for Q2. Total business grew by 11.4% to ₹102,351 crore, with deposits up 12.32% and advances rising 10.34%. The bank achieved its lowest Gross NPA ratio in a decade at 1.01%, down from 1.37% last year. TMB opened 9 new branches, implemented new technologies, and introduced UPI facility on RuPay Credit Cards. CEO Salee S Nair stated no current foreign investor interest but didn't rule out future possibilities. The bank aims to maintain GNPA near 1% and expand to 700 branches.

27Oct 25

Tamilnad Mercantile Bank Sets Ambitious Growth Targets for FY27, Reports Strong Q2 Performance

Tamilnad Mercantile Bank (TMB) announced growth projections for FY27, targeting ₹1.40 lakh crore total business, 2.00% ROA, and over 700 branches. Q2 FY26 results show net profit up 4.73% to ₹317.51 crore, total income up 3.62% to ₹1,621.46 crore. GNPA ratio improved to 1.01% from 1.37% year-on-year. Capital Adequacy Ratio strong at 30.96%. Total business grew 11.40% to ₹1,02,351 crore. TMB focuses on digital initiatives including new Internet Banking Application and AI-powered call center.

27Oct 25

Tamilnad Mercantile Bank Reports 4.7% Rise in Q2 Net Profit, Two Directors Complete Tenure

Tamilnad Mercantile Bank (TMB) reported a 4.7% increase in net profit for Q2 FY2025-26, reaching ₹31,751.00 lakhs. Total income grew by 3.6% to ₹162,146.00 lakhs. Asset quality improved with Gross NPA ratio decreasing to 1.01% and Net NPA ratio to 0.26%. The bank maintains a strong Capital Adequacy Ratio of 30.96%. Two Non-Executive Directors completed their tenure as per regulations. Advances grew by 10.5% and deposits by 12.3% year-on-year.

15Oct 25

Tamilnad Mercantile Bank Appoints Davis Jose Thettayil as IT Head

Tamilnad Mercantile Bank (TMB) has appointed Davis Jose Thettayil as Head of Information Technology and Executive Vice President, effective October 15, 2025, for a 3-year term. Thettayil brings 30 years of banking sector experience, specializing in Information and Communication Technology, Digital Banking, Data Science, and Banking Operations. This strategic move aims to enhance TMB's technological capabilities, advance digital initiatives, improve operational efficiency, and strengthen IT infrastructure and security.

03Oct 25

Tamilnad Mercantile Bank Faces Rs 11.44 Lakh Penalty for TDS Non-Compliance

Tamilnad Mercantile Bank (TMB) has been penalized Rs 11.44 lakh by the Assistant Commissioner of Income Tax for failing to deduct TDS on interest payments exceeding the non-taxable limit in 2013-14. The bank plans to challenge the order. Despite this, TMB reports strong financial growth with total business up 11.47% year-on-year to Rs 102,417 crore, total advances increasing 10.49% to Rs 46,996 crore, and deposits growing 12.32% to Rs 55,421 crore.

03Oct 25

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

Tamilnad Mercantile Bank (TMB) announced significant growth in Q2 across key segments. Total business surpassed ₹1 lakh crore, reaching ₹1,02,417.00 crores with 11.47% YoY growth. Total advances grew to ₹46,996.00 crores (10.49% YoY), while deposits increased to ₹55,421.00 crores (12.32% YoY). CASA deposits rose to ₹15,163.00 crores, showing 9.30% YoY growth. The bank demonstrated consistent growth across all metrics, indicating robust performance.

30Sept 25

Tamilnad Mercantile Bank Partners with Wegofin for Payment Aggregator Business

Tamilnad Mercantile Bank (TMB) has partnered with Wegofin Digital Solutions to launch Banking-as-a-Payment Aggregator (BAPA) services for MSMEs, startups, and enterprises. The collaboration will utilize Wegofin's RBI-compliant SaaS platforms for merchant onboarding, bulk disbursements, and UPI transactions. It includes an AI-powered risk engine with 83.21% fraud detection accuracy. TMB aims to enhance its digital services, drive CASA growth, and create new non-interest income streams. The partnership is expected to support India's digital economy and financial inclusion efforts.

22Sept 25

Tamilnad Mercantile Bank Expands with New NRI Branch in Kochi

Tamilnad Mercantile Bank Limited (TMB) has opened a new Non-Resident Indian (NRI) branch in Kochi, Kerala. The branch, located in the Marine Drive area, began operations on September 23. This expansion is part of TMB's strategy to strengthen its presence in key financial centers and cater to the NRI community. The bank officially notified stock exchanges about this development on September 22, in compliance with SEBI regulations. This move is expected to enhance TMB's ability to serve the specialized banking needs of Non-Resident Indians and potentially boost its NRI banking portfolio.

18Sept 25

Tamilnad Mercantile Bank Approves Key Amendments to Articles of Association

Tamilnad Mercantile Bank (TMB) has approved significant amendments to its Articles of Association. Key changes include modifying director age eligibility to 35-75 years, allowing board discretion on sitting fees, introducing travel reimbursement for non-resident directors, updating notice delivery methods to include electronic means, and clarifying notice service effectiveness. These amendments require approval from the Reserve Bank of India and shareholders via postal ballot.

05Sept 25

Tamilnad Mercantile Bank MD&CEO S. Krishnan to Continue as Bank Seeks Successor

Tamilnad Mercantile Bank has sought RBI guidance following the resignation of its MD and CEO, S. Krishnan. The RBI has directed the bank to initiate the process of identifying a new MD&CEO and submit an application for approval. In the interim, Krishnan will continue in his role until a successor takes office. The bank must provide a timeline for submitting the new MD&CEO application by October 31, 2023.

11Aug 25

Tamilnad Mercantile Bank Expands Insurance Portfolio with Bajaj Allianz General Insurance Partnership

Tamilnad Mercantile Bank (TMB) has formed a strategic partnership with Bajaj Allianz General Insurance Company Ltd. (BAGIC) to expand its non-life insurance product range. The collaboration will enable TMB to offer various insurance products including motor, health, personal accident, asset protection, and cyber insurance through its 587 branches and digital platforms. This partnership aligns with TMB's strategy to provide comprehensive financial solutions and grow fee-based income. BAGIC will support TMB with a dedicated service team, staff training, IT integration, and web portal linkages.

31Jul 25

Tamilnad Mercantile Bank Reports 6.13% Net Profit Growth, Deposits Surge 9.38%

Tamilnad Mercantile Bank (TMB) has reported a 6.13% year-on-year increase in net profit. The bank's total deposits grew by 9.38% to ₹53,803.00 crores, while total business crossed ₹98,923.00 crores, up 9.86%. The RAM (Retail, Agriculture, MSME) portfolio expanded by 11.93% to ₹42,100.00 crores. Asset quality improved with GNPA decreasing to 1.22% and NNPA halving to 33 basis points. TMB is focusing on expanding its MSME segment through new loan management systems and credit management centers, expecting deposit growth of 10-12% and advances growth of around 15% for the full year.

28Jul 25

Tamilnad Mercantile Bank Reports 6.3% Growth in Quarterly Net Profit

Tamilnad Mercantile Bank announced quarterly results with a 6.3% increase in net profit to 3.05 billion rupees. Revenue rose 8.5% to 13.90 billion rupees. Asset quality improved with gross NPA ratio decreasing to 1.22% from 1.25% and net NPA ratio declining to 0.33% from 0.36% quarter-over-quarter.

25Jul 25

Tamilnad Mercantile Bank Reports Highest Ever Quarterly Profit, Crosses ₹1 Lakh Crore Business Milestone

Tamilnad Mercantile Bank (TMB) achieved its highest-ever quarterly profit of ₹304.89 crore, up 6.13% year-on-year. The bank crossed the ₹1 lakh crore business milestone on July 24, with total deposits at ₹53,803 crore (9.38% growth) and gross advances at ₹45,120 crore (10.44% growth). TMB's asset quality improved with GNPA ratio at 1.22% and NNPA ratio at 0.33%. The bank is focusing on retail advances, digital transformation, and expanding its customer base, now serving over 5.3 million customers through 585 branches.

25Jul 25

Tamilnad Mercantile Bank Reports Higher Q1 Profit, Improved Asset Quality, and Achieves ₹1 Lakh Crore Business Milestone

Tamilnad Mercantile Bank (TMB) has achieved a significant milestone by crossing the ₹1 lakh crore mark in total business. The bank reported improved financial performance with a net profit of ₹3.05 billion in Q1, up from ₹2.87 billion year-over-year. TMB's asset quality also improved, with gross non-performing assets (GNPA) declining to 1.22% and net non-performing assets (NNPA) decreasing to 0.33%. The bank expressed gratitude to its customers, employees, and stakeholders for their contribution to this achievement. Additionally, TMB received approval for listing up to 15,83,514 equity shares under its Employee Stock Option Plan 2024.

02Jul 25

Tamilnad Mercantile Bank: Q1 Business Grows 9.86% YoY, Nears ₹99,000 Crore

Tamilnad Mercantile Bank has shown significant growth in Q1 across various financial indicators. The bank's total business increased by 9.86% year-over-year to ₹98,923.00 crore. Total deposits grew by 9.4% to ₹53,803.00 crore, while CASA deposits increased by 4.5% to ₹14,411.00 crore. Gross advances saw a 10.4% growth, reaching ₹45,120.00 crore.

25Apr 25

Tamilnad Mercantile Bank Projects 15-18% Loan Growth for FY'26, Reports Strong FY'25 Performance

Tamilnad Mercantile Bank (TMB) announced a loan growth target of 15-18% for FY'26 and reported impressive FY'25 results. Key highlights include: Total income up 11.81% to ₹6,141.75 crore, net profit increased 10.31% to ₹1,182.61 crore, and total advances grew 11% to ₹44,366 crore. Asset quality improved with Gross NPA ratio at 1.25% and Net NPA at 0.36%. The bank's Capital Adequacy Ratio strengthened to 32.71%, and EPS rose to ₹74.68, marking a 10.31% YoY growth.

24Apr 25

Tamilnad Mercantile Bank Reports Strong FY2025 Performance with 10.35% Net Profit Growth

Tamilnad Mercantile Bank (TMB) announced robust financial results for FY2025. Net profit increased by 10.35% to ₹1,183.00 crore, while operating profit grew by 17.81% to ₹1,746.00 crore. Total income rose by 11.82% to ₹6,142.00 crore. Asset quality improved with GNPA ratio decreasing to 1.25% and NNPA ratio to 0.36%. Total business expanded by 9.58% to ₹98,055.00 crore. The bank opened 26 new branches and launched specialized units to enhance market position. A final dividend of ₹11.00 per equity share was recommended.

23Apr 25

Tamilnad Mercantile Bank Reports Strong Q4 Performance, Recommends 110% Dividend

Tamilnad Mercantile Bank (TMB) announced robust financial results for Q4 and FY2025. Net profit for Q4 increased by 15.4% YoY to ₹2.92 billion, while full-year profit rose 10.3% to ₹11.83 billion. Asset quality improved with GNPA ratio decreasing to 1.25% from 1.44% last year. The bank maintained a strong capital position with a CAR of 32.71%. The Board recommended a final dividend of 110% (₹11 per share) for FY2025.

07Apr 25

Tamilnad Mercantile Bank Reports Strong Growth in Advances and Deposits

Tamilnad Mercantile Bank announced impressive financial updates for the period ending March 31. The bank reported an 11.00% year-over-year increase in gross advances and an 8.43% growth in total deposits. This simultaneous growth in both lending and deposit-taking operations indicates the bank's strong financial health and potential for higher interest income.

05Apr 25

Tamilnad Mercantile Bank Reports Robust Growth in Advances and Deposits for FY 2024-25

Tamilnad Mercantile Bank (TMB) announced impressive financial results for the fiscal year ending March 31, 2025. Gross advances increased by 11.00% to ₹44,365.00 crore, while total deposits grew by 8.43% to ₹53,689.00 crore. The bank's focus on Retail, Agriculture, and MSME (RAM) sectors led to a 13.19% growth in RAM advances, reaching ₹41,297.00 crore. Overall, TMB's total business expanded by 9.58% to ₹98,054.00 crore, demonstrating strong performance across key financial metrics.

29Mar 25

Tamilnad Mercantile Bank Expands Network and Addresses Regulatory Compliance

Tamilnad Mercantile Bank (TMB) has opened six new branches across India, bringing its total to 578 branches in 17 states and 4 Union Territories. The bank received a cautionary notice from stock exchanges regarding a delay in disclosing audio recordings of an investor meet. TMB has since provided the required disclosure and stated there is no quantifiable impact on its operations.

11Mar 25

Tamilnad Mercantile Bank Faces ₹58.91 Crore Tax Demand, Plans to Challenge

Tamilnad Mercantile Bank (TMB) has received a tax demand notice of ₹58.91 crore from the Income Tax Department for the Assessment Year 2017-18. The bank plans to contest the demand through legal channels and does not expect it to materially impact its financials or operations. TMB promptly disclosed this development to stock exchanges in compliance with SEBI regulations.

07Mar 25

Tamilnad Mercantile Bank Slashes Lending Rates, Boosts Borrower-Friendly Stance

Tamilnad Mercantile Bank (TMB) has announced significant reductions in key lending rates. The one-year Marginal Cost of Funds based Lending Rate (MCLR) has been cut from 9.75% to 9.60%, effective March 7, 2025. Additionally, the Repo Linked Lending Rate (RLLR) has been reduced from 9.45% to 9.25%. These rate cuts are expected to benefit both new and existing borrowers through potentially lower interest rates and reduced EMIs. The move aims to stimulate credit growth and enhance TMB's competitiveness in the lending market.

06Mar 25

Tamilnad Mercantile Bank Cuts RLLR Again: Second Major Rate Reduction in 2025

Tamilnad Mercantile Bank has announced a 25 basis points reduction in its Repo Linked Lending Rate (RLLR) to 8.25% from 8.50%, effective December 20, 2025. This follows the bank's earlier rate cuts in March 2025, when it reduced both MCLR and RLLR, demonstrating continued commitment to competitive lending rates and borrower benefits.