TMB net profit is Rs 316.66 crore

The Tamilnad Merchantile Bank (TMB) Ltd recorded a modest growth of just 2.3 per cent in the 2016-17 financial year.
TMB net profit is Rs 316.66 crore


S Annamalai, Chairman of the Board of Directors of the Bank, said the total business of the bank at the end of fiscal year 2017 was Rs 54,162.47 crore with a 2.3 per cent growth rate.  The bank’s deposit portfolio recorded a growth 6 pc growth to touch Rs 32,190.15 crore and the advances level stood at Rs 21,972.32 crore, he said, giving an overview of the bank’s performance in other sectors in the last fiscal.
The interest income during the financial year has increased from the level of Rs 3,252.17 crore to Rs 3,380.96 crore with a 3.96 pc increase. The other incomes in the same period were Rs 430.39 crore. The interest expenditure had shown a marginal increase from Rs 2,208.16 crore to Rs 2,230.15 crore.
The operating profit rose from Rs 725.49 crore to Rs 875.63 crore and the net profit for the year stood at Rs 316.66 crore. The Net Interest Income (NII) had increased from Rs 1,044.01 crore to Rs 1,150.81 crore with an increase of 10.23 percentage. The gross NPA as a percentage to total advances is 2.91 pc. The level of net NPA is 1.74 pc of the total advances.

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