STOCK MARKET BSE NSE

Tamilnad Mercantile Bank first-half profit up by 60 per cent at Rs 241 crore

The total business of the bank at the half-year ended September 2020 stood at Rs 66,765.27 Crores with a growth rate of 9.72 per cent, the bank said in its financial statement.

Published: 24th November 2020 11:51 AM  |   Last Updated: 24th November 2020 11:51 AM   |  A+A-

cash, money, investment

Image for representational purpose.

By Express News Service

NEW DELHI: Tamilnad Mercantile Bank Ltd (TMB) has reported a 60 per cent jump in its net profit in the six months of this year to Rs 241.54 crore, against Rs 151.07 crore reported during the same period last year.

Net NPA, meanwhile, dropped by 46.24 per cent to Rs 335.61 crore from Rs 624.29 crore, while in percentage terms it dropped to 1.16 per cent from 2.40 per cent.

Gross NPA dropped 25 per cent to Rs 1,010.53 crore from Rs 1,346.65 crore, in percentage dropped to 3.41 per cent from 4.91 per cent.

The total business of the bank at the half-year ended September 2020 stood at Rs 66,765.27 Crores with a growth rate of 9.72 per cent, the bank said in its financial statement.

Credit to MSME sector rose to Rs 11,674.62 crore (previous year Rs 10,241.72 crore) with a growth rate of 13.99 per cent.

The bank said it is targeting to close the fiscal with total business above Rs 72,500 crore, deposits of over Rs 40,500 crore and advances over Rs 32,000 crore and is expecting net profit at Rs 480 crore.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp