NEW DELHI: Tamil Nadu-based Tamilnad Mercantile Bank posted 4% growth in net profit in FY24 to Rs 1,072 crore as against Rs 1,029 crore a year ago.
Total income rose from Rs 4,710 crore in FY23 to Rs 5,493 crore FY24. Interest income improved to Rs 4,848 crore in FY24 from Rs 4,081 crore a year ago. Total business has increased to Rs 89,485 crore in FY24 from Rs 85,348 crore a year-ago. CASA rose to Rs 14,676 crore in FY24 from Rs 13,736 crore in FY23.
On asset quality, gross NPA as a percentage of total advances stood at 1.44 % (as against 1.39% in FY23) and net NPA stood at 0.85% (against 0.62% in FY23). Total SMA (special mention account) to gross advances has reduced to 3.97% from 6.51%, while stressed assets ratio decreased to 2.70% from 3.18%.