Tamilnad Mercantile Bank has reported results for first quarter ended June 30, 2024 (Q1FY25).
The bank has reported 9.98% rise in net profit at Rs 287.29 crore for Q1FY25 as compared to Rs 261.23 crore for the same quarter in the previous year. Total income of the bank increased by 14.51% at Rs 1,514.87 crore for Q1FY25 as compared to Rs 1,322.89 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.