Tamilnad Mercantile Bank Ltd.
Q2FY23 Quarterly Result Announced for Tamilnad Mercantile Bank Ltd.
Tamilnad Mercantile Bank announced Q2FY23 results:
- The Bank’s deposits has increased to Rs 43,136.65 crore (PY Rs 41,022.21 crore)
- The Bank’s CASA position has increased to Rs 13,192.64 crore with a growth rate of 15.32%
- The advance level of the Bank has increased to Rs 34,876.53 crore with a growth rate of 10.38%
- The Operating Profit is at Rs 763.63 Crore (PY Rs 688.94 Crore)
- The Net Profit is at Rs 496.51 crore (PY Rs 392.08 Crore) registering a growth rate of 26.63%.
- The Net Interest Income (NII) has increased to Rs 1,032.57 Crore (PY Rs 874.75 Crore) registering a growth rate of 18.04%.
- Net Interest Margin at 4.47% (PY 4.04%)
- Return on Asset at 1.93% & Return on Equity at 16.84% (PY 1.63% and 16.53% respectively)
- The Bank’s Net worth increased to Rs 6,461.20 crore (PY Rs 4,905.87 crore) with an absolute rise of Rs 1,555.33 crore registering a growth rate of 31.70%
- The Gross NPA as a percentage of total advances stood at 1.70% and the net NPA stands at 0.86%. (PY 3.31% and 1.79% respectively)
- The Provision Coverage Ratio of the Bank increased to 88.58% (PY 80.50%)