Tamilnad Mercantile Bank has entered into a several strategic partnerships for a digital transformation of the bank and increasing operational efficiency to enhance customer growth
FinTech BizNews Service
Mumbai, July 25, 2025: The Board of Directors of Tamilnad Mercantile Bank Ltd. approved the unaudited Financial Results of Q1FY2026 in their meeting held today.
Key Highlights of the Results:
· Record Profit: Tamilnad Mercantile Bank reported its highest-ever quarterly net profit of ₹305 crore in Q1FY26, registering a 6.27% YoY growth, driven by strong performance in core lending and deposit businesses.
· Business Expansion: The bank opened 7 new branches this quarter and continued strengthening its digital transformation journey with strategic partnerships.
· Digital Enhancements: Key tech rollouts include Oracle CX for integrated sales and service, a Vendor Management System (VMS) for efficient expense and tax compliance, and Business Process Management (BPM) for paperless operations.
· Strong Asset Quality: Gross NPA reduced to 1.22% and Net NPA to 0.33%, reflecting improved asset quality.
· Capital Adequacy: CRAR improved to 31.55%, underlining a strong capital position.
· Achievement of Rs.1 Lakh Crore Business Milestone
· Solid Growth Metrics:
- Deposits: Rs53,803 crore (+9.38% YoY)
- Advances: rs45,120 crore (+10.44% YoY)
- Net Worth: Rs9,328 crore (+13.15% YoY)
- RAM Segment (Retail, Agri, MSME): Rs42,100 crore (+11.93% YoY)
Announcing the Q1FY26 unaudited financial results, Mr. Salee S Nair, MD & CEO of Tamilnad Mercantile Bank, said, “We have achieved the highest ever quarterly Net Profit in Q1FY26, driven by continued growth in our core lending and deposit businesses. We remain committed to our strategic priorities of expanding our reach and enhancing customer experience. In this year, we have opened 7 new branches in this quarter across key markets, further strengthening our distribution network. We have also entered into a several strategic partnerships for a digital transformation of the bank and increasing operational efficiency to enhance customer growth. We believe that these strategic initiatives, coupled with our focus on responsible lending and cautious risk management practices, will pave the way for sustainable and profitable growth in the years to come.”
