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Anand Rathi's Report
Tamilnad Mercantile Bank Ltd. is one of the oldest and leading old private sector banks in India with a history of almost 100 years. It has loyal customer base as 79.78% of their customers have been associated with them for a period of more than five years.
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It has strong presence in Tamil Nadu and has focus to increase presence in other strategic regions. Tamilnad Mercantile Bank focuses on advances to micro, small and medium enterprise, agricultural and retail segment which have grown at compound annual growth rate of 12.94% between FY20-22.
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Tamilnad Mercantile Bank have shown consistent financial performance, net interest margin have grown over the years with an increase from 3.64% to 4.10% from FY20 to FY22 at a CAGR rate of 6.13%.
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