Tamilnad Mercantile Bank Limited
Start Date05-09-2022
Application Timing10am-5pm
Price Range₹500 - ₹525
Min Qty28
Min. Investment₹14000
Listing Date05-09-2022
Close Date07-09-2022

About Tamilnad Mercantile Bank Limited

Tamilnad Mercantile Bank (TMB) is a private bank and one of the oldest banks in the private sector banks in India. TMB was incorporated in 1921 and headquartered in Thoothukudi, Tamil Nadu, India. The bank has a long-term track record with over 100 yea

Why To Invest in Tamilnad Mercantile Bank Limited

The bank offers banking and financial services to its customers are retailers, micro-enterprises, small and medium enterprises, MSMEs, and more. They have a strong network of branches of over 500 and a customer base of over 5 million as of March 2022.

Strengths And Risks
Return on Assets: Its Return on Assets stood at 1.3% compared to a median 0.7% for its peers, in FY21
Diversified loan book : Diversified loan book consisting of retail customers, agricultural customers, corporates and MSMEs
Net Non- Performing Assets: Its net non- performing assets (NNPA) have reduced from 2.4% in FY19 to 1.9% in FY21
CASA: Its current account saving account (low cost funds) to total deposit ratio rose to 28.5% in FY21 from 24.6% in FY19.
Net interest margin : Net interest margin, which is an important metric of profitability, increased from 3.6% in FY19 to 3.7% in FY21.
Bank credit to GDP: Tamil Nadu is under-penetrated. Its bank credit to GDP stood at 53% as compared to 89% in case of Maharashtra and 37% for Gujarat
Risks : 37.6% of its paid up equity share capital is subject to outstanding legal proceedings which are pending in various forums.
Petition in the Court: Its former director has filed a petition in the court, alleging mismanagement in the bank, and cited ongoing proceedings against the bank by the Directorate of Enforcement.
Legal Proceedings: Its business, reputation and financial results could be impacted by adverse results in the legal proceedings.
New Branches: Requires permission from the Reserve Bank of India to open new branches
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