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Financial Results of the TMB for the half  year 2019-20 (H1) 

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Financial Results of the TMB for the half  year 2019-20 (H1) 


Thoothukudi 2019 November 12Tamilnad Mercantile Bank Ltd (TMB) one of the premier Old Private Sector Scheduled Commercial Banks, having Head Quarter in Thoothukudi has a long cherished history of 98+ years of successful banking with strong fundamentals and a record of continuous profit making in the industry.
TMB having pan India presence with 509 branches and 12 Regional Offices across 16 states and 4 Union Territories serves to more than 4.70 million delighted customers.   
The Board of Directors of Tamilnad Mercantile Bank Ltd took on record the reviewed results of the Bank for the half year ended 30.09.2019 in their meeting held at Thoothukudi on 12.11.2019. In the presence of Shri.S.Annamalai, Chairman and other Directors of the Board, Shri K.V. Rama Moorthy, Managing Director and CEO of the bank has declared the half year end results of the Bank for the year 2019-20. Vice President, General Managers and Chief Financial Officer of the Bank were also present at the event. 
Bank’s Results at a glance                                                                     (₹ in Crores)
Parameters
September 2018
September 2019
Growth (%)
YoY
Total Deposits (₹)
30085.28
34068.80
13.24
Total Advances (₹)
24395.98
26783.68
9.79
CASA (₹)
7629.82
8728.59
14.40
Operating Profit (₹)
411.24
440.07
7.01
Net Profit (₹)
62.74
151.07
140.79
Gross NPA (₹)
1131.85
1346.65
--
Gross NPA (%)
4.64
4.91
--
Net NPA (₹)
571.20
624.29
--
Net NPA (%)
2.40
2.40
--
Provision Coverage Ratio
73.17
75.77
--
The total business of the bank at the half year ended 2019-20 stood at ₹60,852.48 Crores with a growth rate of 11.70%.
The Bank’s deposit and advance portfolio stood at ₹34,068.80 Cr & ₹26,783.68 Cr respectively.
 
Credit to Priority & MSME Sector:
The Bank has been giving continued thrust on advances to Priority Sectors like Agriculture, MSME, Education, Housing etc. constituting 70.59% of its ANBC, above the regulatory requirement of 40%.
The Advances to Priority sector has increased to ₹17,442.95 Crores (PY ₹15,279.81 Crores) with a growth rate of 14.16%.
The Bank’s Advances to Agriculture sector stood at ₹6,342.18 Crores. The Advances to Agriculture Sector constitute 23.68% of total advances, above the regulatory requirement of 18%.
Credit to MSME sector has increased to ₹10,241.71 Crores (PY ₹9,137.61 Crores) with a growth rate of 12.08%.
Y-O-Y Performance:
The Bank’s deposits has increased to ₹34,068.80 crores (PY ₹30,085.28 crores)
The Bank’s CASA position has increased to ₹8,728.59 crores with a growth rate of 14.40%
The advance level of the Bank has increased to ₹26,783.68 crores with a growth rate of 9.79%
Non-interest income stood at ₹229.27 crores (PY ₹202.06 crores)
Operating expenses stood at ₹423.89 crores (PY ₹407.63 crores)
The Operating Profit is at ₹440.07 Crores (PY ₹411.24 Crores)  
The Net Interest Income (NII) has increased to ₹634.69 Crores (PY ₹616.81 Crores)
The Bank’s Net worth increased to ₹3,725.10 crores (PY ₹3,433.16 crores) with an absolute rise of ₹291.94  crores registering a growth rate of  8.50%
Interest Income stood at ₹1,697.75 Crores with an increase from previous year figure of ₹1,591.31 Crores.
The Interest Expenditure stood at ₹1063.06 crores with an increase from previous year figure of ₹974.50 crores.
The Gross NPA as a percentage to total advances stood at 4.91% and net NPA stands at 2.40%.
Provision Coverage Ratio of the Bank increased to 75.77% (PY 73.17%)
Network Expansion during half year end 2019-20:
4 new ATMs were added this year & the total number of ATMs stood at 1156.
16 new cash recycler machines were installed at ATMs, taking the tally to 150.
 
Business Plan strategies for the Financial Year 2019-20:
Thrust on consistent CASA growth.
Credit growth with specific thrust on retail lending.
Leveraging Technology and HR for business development for enhancing delivery efficiencies of all banking services.
New Initiatives for the next half year 2019-20:
Setting up of 29 more e-Lobbies.
Appointing Urban Business Correspondents
Introducing National Common Mobility Card (NCMC)
Introducing Hi-tech Call Center operations (24X7)
Introducing technology aided account opening process
Thrust for mobilisation of CASA by aggressively promoting POS, credit cards etc.
Introducing Artificial Intelligence Powered Chatbot
Robotic operations in Currency Chest
Business Targets for the Financial Year 2019-20:
Total Business to cross ₹72,500 Crores.
Total Deposits to cross ₹41,000 Crores.
Total Advances to cross ₹31,500 Crores.
Total CASA to cross ₹10,500 Crores
Achieve a Net Profit of ₹ 360 Crores.
_______________
 
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