TNMB claims profit of Rs 231.20 crore in 2006-07

Chennai, June 6 (UNI) Tamil Nadu Mercantile Bank (TNMB) today claimed that its operating profit for the year 2006-2007 was Rs 231.20 crore, an increase of 18.98 per cent over the corresponding period last year.

The net profit of Rs 105.78 crore was also higher than the previous year's Rs 101.19 crore, a bank release said here.

Banks's net owned funds also increased from Rs 656.79 crore to Rs 759.15 crore, an increase of 15.58 per cent over the corresponding period of last year.

The board had proposed a dividend of 1,000 per cent for the shareholders subject to approval of the members at the Annual General Meeting.

Capital adequacy ratio stood at 16.77 per cent as against the minimum of nine per cent stipulated by RBI.

Bank's business volume was at Rs 10,067 crore, up by 20.87 per cent over the corresponding period of last year.

Deposites increased by Rs 817 crore and stood at Rs 6,020 crore over Rs 5,203 crore of previous year, the release added.

UNI