Tamilnad Mercantile Bank celebrates 101st foundation day

MADURAI: Tamilnad Mercantile Bank (TMB) Limited, headquartered in Thoothukudi, celebrated its 101st foundation day on Friday.

As part of the celebration, a mega loan disbursement programme was organised. S Krishnan, managing director and CEO inaugurated the programme in the presence of S Narayanan, general manager (credit) of the bank.

‘Manned E-lobby’ was also inaugurated by the managing director in the presence of Rev Dr Shibana, secretary and assistant professor of zoology, St Mary’s College (autonomous), Thoothukudi.

According to a statement, the bank was founded on November 11 in 1921 by ten visionary entrepreneurs in the name of The Nadar Bank Ltd.

The name of the bank was subsequently changed to Tamilnad Mercantile Bank Ltd in 1962. As on date, the bank has 509 branches spread across the length and breadth of the country.

As a step towards digital lending, the TMB during the programme launched ‘Lend Perfect software’ to process credit applications digitally. As many as 101 persons donated blood in camps and it was handed over to the blood bank in Government Hospital, Thoothukudi.

Eye camps were also organized at various places in Thoothukudi and 209 spectacles were provided to beneficiaries, the statement said.