TNMBL registers net profit of Rs 101.19 crore

Thoothukudi, Tamil Nadu Jun 15 (UNI) The TamilNad Mercantile Bank Limited(TNMBL) has registered a net profit of Rs 101.19 crore compared to Rs 82.35 last fiscal, a bank release said today.

As per the release, the bank had recorded an operating profit of Rs 198.91 crore in 2005-06 compared to Rs 174.21 last fiscal. The business volume was at Rs 8329 crore, clocking a growth of 11.75 per cent with deposits of Rs 5203 crore and advances of Rs 3126 crore.

The bank's average deposits increased by Rs 526.02 crore at a growth rate of 12.26 per cent.

In view of changing banking scenario, increasing competition and the race to adopt innovative customer retention measures, the bank extended 'anywhere banking' facility to all its branches, including 36 rural branches and also enabled RTGS facility.

Apart from providing access to over 5500 ATMS nationwide, the bank opened 37 own ATMs in major cities.

As part of its expansion plans and new services, the bank would introduce mediclaim facility for the deposit holders, issue certificate of deposit in demat form, introduce various insurance linked deposit and loan products, debit and Visa cards, the release added.

UNI AJ VV 1440