Page 21 - Banking Finance December 2017

PRESS RELEASE

Tamilnad Mercantile Bank net profit slips 21%

The net profit of Thoothukudi headquartered Tamilnad Mercantile Bank slipped 21 per cent to Rs 317 crore in 2016-17
fiscal against Rs 402 crore clocked during the corresponding 12 months of the earlier fiscal. Sharing the audited results,
TMB Chairman S Annamalai has in a release pointed that the operating profit of the bank rose 20 per cent to Rs 875
crore in FY16-17 (Rs 725 crore), while the net profit slipped 21 per cent.
The bank's gross and net NPA rose to 2.91 per cent (1.86 per cent) and 1.74 per cent (0.89 per cent), respectively,
advances dropped by 2.68 per cent to Rs 21,972 crore (Rs 22,578 crore) and deposits grew 6 per cent to Rs 32,190 crore
(Rs 30,369 crore). CASA swelled by 27 per cent to Rs 7,478 crore (Rs 5,891 crore). The bank would focus on accelerated
growth of CASA, retail, agriculture and MSME segments during the current fiscal. Book value of the share (with face
value of Rs 10) stood at Rs 226.23.

Rama Moorthy takes over as MD and CEO of Tamilnad Mercantile Bank
Former United Bank of India's (UBI) Executive Director K V Rama Moorthy has taken over as Managing Director and
Chief Executive Officer of Tamilnad Mercantile Bank Ltd. Prior to this, he was working as Executive Director of United
Bank of India since 2015 and earlier he was with Bank of Baroda.
Rama Moorthy has over three decades of experience in various phases of banking across operations, new products and
services, retail lending, corporate banking, marketing and business expansion.The appointment of Moorthy is for a period
of three years from the date of assuming the charge according to the approval received from the Reserve Bank of India,
in line with the earlier recommendations of the bank's board.
Select TMB branches to work on all Saturdays

Tamilnad Mercantile Bank (TMB) has denotified second and fourth Saturdays of the month as working days for select
branches from September 1. This is being done with a view to building new business, expediting recovery of NPAs and
improving customer service. Currently, second and fourth Saturdays are banking holidays as per a government order
dated August 1, 2015.
'Strategic branches'
The newly declared working Saturdays are applicable only for the specially denoted 'strategic branches' (109 in number
as on date), said an internal circular issued. Select staff members, up to a maximum of one-third (depending on the size
of the branch), and jewel appraisers, will work on these days. They will be given a compensatory leave within 15 days.
Branch heads will ensure that the compensatory leave thus earned is exhausted within these 15 days. They will maintain
a separate register to capture the details of these staff and the compensatory leave taken.

Regional managers will personally handle the strategic branches and ensure the new system functions properly. They
must also ensure that the extended working days are exclusively utilised for business development. Apart from the
strategic branches, other offices of the bank will not function on the second and fourth Saturdays, at least for now, the
circular clarified.

TMB achieves a total business of 54,162.47 crore

The total business of Tamilnad Mercantile Bank (TMB) at the end of fiscal year 2017 was Rs. 54,162.47 crore with a
growth rate of 2.30 % on year on year basis. The bank's deposit portfolio recorded a growth rate of 6% to touch Rs.
32,190.15 crore and the advances level stood at Rs. 21,972.32 crore, S. Annamalai, Chairman, Board of Directors, TMB,
told a press conference here.
With the bank's office being headquartered in Thoothukudi, it has been giving a continued thrust on advances to priority
sectors like agriculture, MSME, education and housing. The advances to priority sector increased from Rs. 11,976.95
crore to Rs. 12,960.75 crore with a growth rate of 8.21 %. As for business plan targets in 2017-18 fiscal year, the bank's
total business was aimed at crossing Rs. 60,000 crore. Ten more e-lobbies would be set up during this fiscal, he said.

BANKING FINANCE | DECEMBER | 2017 | 21

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