Tamilnad Mercantile Bank has reported results for first quarter ended June 30, 2023 (Q1FY24).
The Bank has reported 11.54% rise in its net profit at Rs 261.23 crore for the quarter under review as compared to Rs 234.21 crore for the same quarter in the previous year. However, total income of the bank increased by 15.86% at Rs 1,322.89 crore for Q1FY24 as compared Rs 1,141.77 crore for the corresponding quarter previous year.
Tamilnad Mercantile Bank is one of the oldest private sector banks in the country, with a history of almost 100 years. It offers a wide range of banking and financial services primarily to Micro, Small and Medium Enterprises (MSME), agricultural and retail customers.
