Tamilnad Mercantile Bank Q1 net crosses ₹400 crore for the first time
Tamilnad Mercantile Bank (TMB) reported a record Q1 net profit of ₹411.51 crore, a 34.97% year-on-year increase, marking the first time it crossed the ₹400 crore mark. The bank also saw significant growth in Net Interest Income, deposits, and advances, and plans to expand its retail, MSME, and agriculture franchises, invest in technology, and explore international presence.
Why it matters
This indicates strong financial performance and growth for a regional Indian bank, reflecting positive economic activity in its operating areas and potential future expansion, which could impact investors and local economies.
Tamilnad Mercantile Bank Ltd (TMB) reported a 34.97% year on year (YoY) increase in net profit to ₹411.51 crore for the quarter ended June 2026 compared with ₹304.89 crore in the corresponding quarter last year. “This is the highest-ever net profit in the bank’s history. For the first time, we have crossed the ₹400 crore mark,” said Salee S Nair, Managing Director and CEO of the bank.
The bank’s Net Interest Income increased to ₹765.08 crore from ₹579.55 crore, a growth of 32.01% YoY. Net Interest Margin (NIM) improved to 4.29% from 3.84%, up 45bps YoY. The Thoothukudi- headquartered bank mentioned that its total deposits grew by 19.71% YoY, rising to ₹64,409 crore while advances increased to ₹57,306 crore, a growth of 27.01% YoY.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in