TN Mercantile Bank aim to double business

Tuticorin (Tamil Nadu), Aug 4: Tamil Nadu Mercantile Bank Managing Director and CEO G Narayana Moorthy said the bank would double its business to Rs 20,000 crore in three years.

The bank had a very sound capital adequacy ratio of 16.77 per cent against the RBI stipulated nine per cent, he said speaking on the occassion of the opening of the bank's 188th branch at Tindivanam yesterday.

He said the bank would introduce internet and mobile banking to provide value added service to its customers.

The bank would also open ten more branches in Tamil Nadu and one each in Gujarat and Andhra Pradesh.

UNI