TMB posts record ₹451-crore profit; braces for higher ECL provisioning
Tamilnad Mercantile Bank (TMB) reported a record quarterly net profit of ₹451 crore, driven by strong core banking income and improved cost efficiency. The bank is now preparing for increased provisioning requirements under new credit loss frameworks while shifting half of its workforce to sales roles.
Why it matters
This reflects broader trends in the banking sector regarding digital transformation, workforce restructuring, and adapting to stricter financial regulatory standards.
TMB posts record ₹451-crore profit; braces for higher ECL provisioning left TMB has strengthened its chief information security officer’s team, appointed a data protection officer and partnered with IBM to bolster its security operations centre. The Hindu The Hindu https://th-i.thgim.com/public/incoming/17frkt/article71626814.ece/alternates/FREE_1200/IMG_TMB_2_1_H5CLSFGV.jpg Balaji W S 463@Chennai Bank expects advances to grow over 22% and deposits by over 20% in FY27; cybersecurity to account for a fifth of planned IT spending next year Chennai Tamilnad Mercantile Bank (TMB) reported its highest-ever quarterly net profit of ₹451.14 crore in the second quarter of FY27, registering a 42.09% year-on-year (YoY) increase on the back of strong core banking income and improved cost efficiency. However, the bank expects its provisioning requirements under the upcoming expected credit loss (ECL) framework to rise further as its balance sheet expands.
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