February 25, 2018 6:54 AM ET


Company Overview of Tamilnad Mercantile Bank Ltd.

Company Overview

Tamilnad Mercantile Bank Ltd. provides personal and business banking products and services. Its personal banking products and services include savings accounts, fixed deposits, and recurring deposits; retail services, such as pension, online bill payment, e-tax payment, mobile/SMS banking, equity trading account, demat account, IPO facility, mutual fund, smart shopper Visa card, and money transfer; and retail loans/credits, including personal, home, house rent, doctor, education, short term study, two wheeler, car, IPO finance, and pension loans, as well as gold over drafts and credit cards. The company’s business banking products and services comprise business accounts, such as current, cas...

57, V.E. Road

Tuticorin,  628 002


Founded in 1921


91 46 1232 1382

Key Executives for Tamilnad Mercantile Bank Ltd.

Chief General Manager
Company Secretary
General Manager
Age: 54
General Manager
Compensation as of Fiscal Year 2017.

Tamilnad Mercantile Bank Ltd. Key Developments

Tamilnad Mercantile Bank Announces Executive Changes

Tamilnad Mercantile Bank has appointed KV Rama Moorthy as its managing director and chief executive officer. He has replaced HS Upendra Kamath. Prior to this appointment, Moorthy worked for United Bank of India as its executive director. He has also worked with Bank of Baroda.

Tamilnad Mercantile Bank Reports Audited Earnings Results for the Fiscal Year 2017

Tamilnad Mercantile Bank reported audited earnings Results for the fiscal year 2017. For the period, the company’s net profit slipped 21% to INR 3,170 million against INR 4,020 million clocked during the corresponding 12 months of the earlier fiscal. Operating profit rose 20% to INR 8,750 million against INR 7,250 million, while the net profit slipped 21% a year ago. Net NPA rose to 1.74% against 0.89% a year ago. CASA swelled by 27% to INR 74,780 million against INR 58,910 million a year ago. Book value of the share (with face value of INR 10) stood at INR 226.23.

Tamilnad Mercantile Bank Seeks IPO

Tamilnad Mercantile Bank Ltd. is planning an initial public offering (IPO) before 2019. "Shareholders’ issues are being resolved. Two courts have ruled on share issues related to two factions that should resolve the matter once and for all,” said S Annamalai, Chairman, TMB. If all went well, the IPO was likely before 2019, he added. TMB will list to meet Reserve Bank of India regulations. The IPO will provide an exit to some investors, mainly foreign institutional investors. TMB executives said the bank’s shares were privately traded at around INR 400 and this price could double before the IPO. Foreign institutional investors (FIIs) have indicated they might dilute 5%-10% of their holdings, Annamalai said.

Recent Private Companies Transactions

No transactions available in the past 12 months.

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