Tamilnad Mercantile Bank Reports Impressive Profit Growth Amid Expansion

Tamilnad Mercantile Bank Ltd reported a net profit of Rs 291.90 crore for Q1 2025, showing significant yearly growth. The bank's strategic initiatives and digital transformations have strengthened its financial performance, leading to a 10.35% increase in annual net profit and an expansion of its branch network.

Tamilnad Mercantile Bank Ltd has announced strong financial results for the first quarter of 2025, reporting a net profit of Rs 291.90 crore. This marks continued progress in the private bank's core lending and deposit activities, reflecting a substantial growth over the same period last year.

For the fiscal year ending March 31, 2025, Tamilnad Mercantile Bank's net profit rose to Rs 1,182.61 crore, up from Rs 1,072.03 crore the previous year. The bank's total income for the January-March quarter increased to Rs 1,542.06 crore, highlighting its expanding financial base and business volume.

In his statement, MD and CEO Salee S Nair credited the bank's success to its strategic priorities, including opening 26 new branches and forging digital transformation partnerships. These efforts have bolstered its operational efficiency and facilitated sustainable growth, which was underscored by improved NPA figures and a proposed 110% dividend for shareholders.

(With inputs from agencies.)