Conference Call with Tamilnad Mercantile Bank Management and Analysts on Q3FY24 Performance and Outlook. Listen to the full earnings transcript.
Conference Call with Tamilnad Mercantile Bank Management and Analysts on Q1FY24 Performance and Outlook. Listen to the full earnings transcript.
Tamilnad Mercantile Bank announced Q1FY24 results: Net worth has increased to Rs 7,190 crore from Rs 5,427 crore YoY The Bank’s deposits have increased to Rs 47,008 crore (PY same period Rs 43,233 crore) The advance level of the Bank has increased to Rs 37,292 crore with a growth rate of 10.26% Book value of the share has increased to Rs 454 from Rs 381 YoY Net profit has surged to Rs 261 crore from Rs 234 crore YoY Interest Income has improved to Rs 1,156 crore from Rs 1,002 crore YoY Non Interest Income has moved to Rs 167 crore from Rs 140 crore YoY The RAM segment has increased to 90% from 88% YoY GNPA has declined to 1.56% from 1.69% YoY NNPA has dropped to 0.66% from 0.93% YoY The Bank has been giving continued thrust on advances to Priority Sectors like Agriculture, MSME, Education, Housing etc. constituting 75% of its ANBC, above the regulatory requirement of 40%. The Advances to Priority sector has increased to Rs 27,805 crore (PY Rs 24,839 crore) with a growth rate of 12%. The Bank’s Advances to Agriculture sector stood at Rs 12,231 crore. The Advances to Agriculture Sector constitute 32.80% of total advances, above the regulatory requirement of 18%. Credit to MSME sector has increased to Rs 13,311 crore (PY Rs 12,588 crore) Result PDF