Tamilnad Mercantile Bank Ltd

Tamilnad Mercantile Bank Limited has announced a revision in its Marginal Cost of Funds Based Lending Rate (MCLR) effective June 7, 2026. The bank has increased its MCLR for overnight and one-month tenors by 5 basis points to 7.60%. The three-month MCLR has been revised to 8.30% (up 5 bps), and the six-month MCLR to 8.85% (up 5 bps). The one-year MCLR remains unchanged at 9.25%. This revision impacts the bank's lending rates across various short-to-medium term tenors.

Tamilnad Mercantile Bank Ltd has announced key corporate actions. The 104th Annual General Meeting (AGM) is scheduled for July 14, 2026, to be held via Video Conferencing. The record date for the proposed dividend for FY 2025-26 is set for June 12, 2026, with payment expected by August 13, 2026. Additionally, Thiru. T. Arunmolian has been promoted to Vice President and designated as Head of Legal, effective June 01, 2026.

Tamilnad Mercantile Bank Ltd (TMB Bank) has announced its 104th Annual General Meeting (AGM) will be held on July 14, 2026, via Video Conferencing. The bank has set June 12, 2026, as the record date for determining eligibility for the proposed dividend for FY 2025-26, which, if approved, will be paid by August 13, 2026. Additionally, the bank informed about a change in senior management, with Thiru. T. Arunmolian promoted to Vice President and designated as Head of Legal, effective June 01, 2026.

Tamilnad Mercantile Bank Ltd announced that the record date for its proposed dividend for FY 2025-26 has been set as June 12, 2026. The dividend, if approved by shareholders at the 104th Annual General Meeting (AGM) on July 14, 2026, will be paid by August 13, 2026. The bank also informed about the promotion of T. Arunmolian to Vice President and Head of Legal, effective June 1, 2026. The AGM will be conducted via video conferencing.

Tamilnad Mercantile Bank Limited (TMB) announced the opening of a new branch in Okkur, Sivagangai District, Tamil Nadu. The new branch, located at Door No.1765, Teachers Colony, Okkur Sivagangai Road, Okkur, Sivagangai District, Tamilnadu — 630 557, is scheduled to commence operations on May 29, 2026. This disclosure is made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Tamilnad Mercantile Bank Limited has announced the opening of two new branches. One branch will be located in Sembanarkoil, Tamil Nadu, and is scheduled to open on May 29, 2026. The other branch will be located in Bhavnagar, Gujarat. This expansion is in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Tamilnad Mercantile Bank Ltd has announced the opening of a new branch in Tirur, Malapuram District, Kerala. The branch, located at D.No.2410/B, Seven Square Building, Ring Road, Tirur, Kerala – 676 101, is scheduled to open on May 21, 2026. This expansion is in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Tamilnad Mercantile Bank Ltd. received a rectification order from the Income Tax Department, reducing the demand notice for A.Y 2013-14 from ₹2,04,23,11,454 to ₹2,93,39,404. The initial demand was raised by disallowing a claim under Section 36(1)(viia) of the Income Tax Act, 1961. The bank states that the revised notice will not have a material impact on its financial statement.

Tamilnad Mercantile Bank Ltd (TMB) announced its audited financial results for the quarter and financial year ended March 31, 2026, reporting its highest-ever quarterly profitability. MD & CEO, Shri. Salee S Nair, attributed this to a strong core operating model, balanced growth strategy, and focus on fundamentals. The bank's MSME franchise showed resilience, maintaining stable credit demand. Asset quality remained strong with improved NPA ratios. For FY27, TMB plans to scale MSME and retail businesses, deepen customer engagement, and leverage digital capabilities. Key financial highlights include a 17.37% YoY growth in Total Business to ₹1,15,091 crore, Deposits up 14.94% to ₹61,712 crore, and Advances up 20.32% to ₹53,379 crore. Net Profit surged 13.10% YoY to ₹1337.55 crore, and Operating Profit grew 6.27% to ₹1855.23 crore. Asset quality improved significantly with Net NPA decreasing to 0.18% (down 18 bps) and Gross NPA to 0.73% (down 52 bps). The Capital to Risk-weighted Assets Ratio (CRAR) increased to 33.73%. The bank also opened 44 new branches during FY26.

Tamilnad Mercantile Bank Ltd's Board of Directors approved its Audited Standalone Financial Results for the quarter and financial year ended March 31, 2026. For FY26, the bank reported a Net Profit of ₹133,755 lakhs (₹133.75 Cr), up from ₹118,261 lakhs (₹118.26 Cr) in FY25. Basic Earnings Per Share (EPS) for FY26 increased to ₹84.47 from ₹74.68. The Board also recommended a final dividend of ₹12.50 per equity share (125%) for the financial year 2025-26, subject to shareholder approval. The bank demonstrated improved asset quality with Gross NPA at 0.73% and Net NPA at 0.18% for FY26, alongside a strong Capital Adequacy Ratio of 33.73%.