Tamilnad Mercantile Bank announced FY23 & Q4FY23 results: FY23: The Bank’s deposit has increased to Rs 47,766 crore in FY23 vs Rs 44,933 crore in FY22 The advance level of the Bank has increased to Rs 37,582 crore with a growth rate of 11.36 % The Operating Profit is at Rs 1,573 crore as in FY23 as against Rs 1,516 crore for Q4FY22 The Net Profit is at Rs 1,029 crore for FY23 as against Rs 822 crore for FY22 registering the growth rate of 25.18% The Net Interest Income (NII) has increased to Rs 2,094 in FY23 (Rs 1,815 crore in FY22) registering a growth rate of 15.37% Return on Asset at 1.97 % & Return on Equity at 16.78 % (PY 1.66 % and 16.58 % respectively) The Bank’s Net worth increased to 6,928 crore in FY23 (Rs 5,336 crore in FY22) with an absolute rise of Rs 1,592 crore registering a growth rate of 29.84 % The Gross NPA as a percentage of total advances stood at 1.39 % and the net NPA stands at 0.62 %. (PY 1.69% and 0.95 % respectively) Provision Coverage Ratio of the Bank increased to 90.90 % (PY 87.92 %) Q4FY23: During Q4FY23 – CASA increased by 6.88% Q3FY23 During Q4FY23 the total deposits increased by 11.25% over Q3FY23 & by 8.97% over the Q4FY22 While the advances of the Bank increased by about 8% during Q4FY23 over the position as in Q3FY23, it increased by 11.36% over the position as on Q4FY22 The net interest income during the Q4FY23 increased by 7.99% over Q4FY22 The Net Profit of Rs 253.05 crore for Q4FY23 is higher by 11.45% of the net profit during Q4FY22 Board of Directors have recommended a dividend of 100% (of which 50% has already been paid in Mar’23 as interim dividend) Result PDF
Tamilnad Mercantile Bank announced Q2FY23 results: The Bank’s deposits has increased to Rs 43,136.65 crore (PY Rs 41,022.21 crore) The Bank’s CASA position has increased to Rs 13,192.64 crore with a growth rate of 15.32% The advance level of the Bank has increased to Rs 34,876.53 crore with a growth rate of 10.38% The Operating Profit is at Rs 763.63 Crore (PY Rs 688.94 Crore) The Net Profit is at Rs 496.51 crore (PY Rs 392.08 Crore) registering a growth rate of 26.63%. The Net Interest Income (NII) has increased to Rs 1,032.57 Crore (PY Rs 874.75 Crore) registering a growth rate of 18.04%. Net Interest Margin at 4.47% (PY 4.04%) Return on Asset at 1.93% & Return on Equity at 16.84% (PY 1.63% and 16.53% respectively) The Bank’s Net worth increased to Rs 6,461.20 crore (PY Rs 4,905.87 crore) with an absolute rise of Rs 1,555.33 crore registering a growth rate of 31.70% The Gross NPA as a percentage of total advances stood at 1.70% and the net NPA stands at 0.86%. (PY 3.31% and 1.79% respectively) The Provision Coverage Ratio of the Bank increased to 88.58% (PY 80.50%) Result PDF