Press Release22 Apr 2024, 10:42 pm
Tamilnad Mercantile Bank Announces Highest Ever Net Profit of ₹1,072 Crore for FY2023-24
AI Summary
Tamilnad Mercantile Bank Limited, in its press release, announced its financial results for the quarter and financial year ended March 31, 2024. The bank reported a net profit of ₹1,072 crore, which is its highest ever, along with an increase in total income, interest income, and CASA. The bank's asset quality also improved with a decrease in the stressed assets ratio. The announcement was made at a meeting held at Thoothukudi on 22.04.2024.
Key Highlights
- Net profit surged to ₹1,072 crore, highest ever.
- Total income increased to ₹5,493 crore.
- Interest income improved to ₹4,848 crore.
- CASA grew to ₹14,676 crore.
- Stressed assets ratio decreased to 2.70%.
- CRAR% increased to 29.37%.