Tamilnad Mercantile Bank Records Highest Ever Net Profit of ₹1,072 Cr in Q4FY24, Announces Dividend of Rs 10/share

Bank’s Performance Highlights 

1. Total Business has increased to ₹ 89,485 crore from ₹85,348 crore Y-o-Y
2. CASA has increased to ₹ 14,676 crore from ₹ 13,736 crore Y-o-Y
3. Book Value of Share has increased to ₹500 from ₹438 Y-o-Y
4. Net profit has surged to ₹1,072 crore from ₹1,029 crore Y-o-Y
5. Interest income has improved to ₹4,848 crore from ₹4,081 crore Y-o-Y
6. Total income has moved to ₹5,493 crore from ₹4,710 crore Y-o-Y
7. The RAM segment has increased to 91% from 87% Y-o-Y
8. The CRAR% has increased to 29.37% from 26.26% Y-o-Y
9. Total SMA to Gross Advances has reduced to 3.97% from 6.51% Y-o-Y
10. StressedAssets ratio has decreased to 2.70% from 3.18% Y-o-Y

₹ in Crore

FY 2023-24 Performance

• CASA has increased by ₹940 crore to ₹14,676 crore as at 31^st March 2024 from ₹13,736 crore

as YoY basis.

• The Bank’s deposit has increased to ₹49,515 crores (PY same period ₹47,766 crores)
• The advance level of the Bank has increased to ₹39,970 crore with a growth rate of 6.35%
• The Net Profit is at ₹1072 crores as on 31.03.2024 as against ₹1029 Crores for the year ended 31.03.2023 registering the growth rate of 4.18%.
• The Net Interest Income (NII) has increased to ₹2,151 crore as on 31.03.2024 (₹2,094 Crores as on 31.03.2023) registering a growth rate of 2.72%.
• Return on Asset at 1.84 % & Return on Equity at 14.44 % (PY 1.97 % and 16.78% respectively)
• The Bank’s Net worth increased to ₹7921 crores (PY ₹6,928 crores) with an absolute rise of

₹ 993 crores registering a growth rate of 14.33 %

• The Gross NPA as a percentage to Total Advances stood at 1.44 % and Net NPA stands at

0.85 %. (PY 1.39% and 0.62 % respectively)

Q4 FY2023 24 Performance

•   During the Quarter ended March’24 – CASA increased by 5.85% over the previous
• Quarter (Q3FY24)
• During Q4 the total deposits increased by 5.80% over the previous quarter (Q3FY24) & by 3.66 % over the Q4FY23.
•  While the advances of the Bank increased by about 4.13% during Q4FY24 over the position as on the previous quarter (Q3FY24), it increased by 6.35% over the position as on Q4 of FY2022-23.
•  The Net Interest Income during the Q4FY24 increased by 5.59% over the corresponding
• previous Quarter (Q3FY24).

Dividend Recommendation

Ø  Board of Directors of the bank has recommended the payment of final dividend  of Rs.10/- (100%) per equity share of the face value of Rs.10 each for the financial year 2023-24 subject to the approval of the shareholders at the ensuing AGM of the Bank.

New initiatives

•  Opened 22 branches during the financial year 2023-24. We have plans to open another 50 branches in the financial year 2024-25.
• To tap the emerging MSME Market with focused attention, MSME Loan Processing HUB has been started at Ahmedabad, Bengaluru, Chennai, Coimbatore, Hyderabad, Madurai, Mumbai, Thoothukudi, Trichy, Salem
• Launched Enhanced Business Correspondent (BC) Services.