Financial Daily from THE HINDU group of publications
Friday, Jun 25, 2004
Financial Daily from THE HINDU group of publications Friday, Jun 25, 2004 |
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Money & Banking
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Financial Performance Corporate Results - Private Banks TMB net profit at Rs 80.68 crore Our Correspondent
Madurai , June 24 TAMILNAD Mercantile Bank (TMB) has made an operating profit of Rs 169.89 crore for the year 2003-04, registering an increase of 25.18 per cent over the previous year. Its net profit stood at Rs 80.68 crore, recording an increase of 26.52 per cent.
Total business has exceeded Rs 6,500 crore as against Rs 6,045 crore last year. The bank has decided to declare a dividend of 100 per cent and a special dividend of Rs 15 per share. According to the bank release, lending to the priority sector worked out to 45.14 per cent as against the stipulated credit norm of 40 per cent. Advances to the export sector have been Rs 204 crore, at 9.65 per cent of the total net bank credit.
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