Financial Daily from THE HINDU group of publications
Saturday, Jun 04, 2005
Financial Daily from THE HINDU group of publications Saturday, Jun 04, 2005 |
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Money & Banking
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Financial Performance Corporate Results - Private Banks TMB clocks Rs 174-cr profit, to pay Rs 25 Our Correspondent
Madurai , June 3 THE Tuticorin-based Tamilnad Mercantile Bank (TMB) has clocked an operating profit of Rs 174.21 crore for the year ended March 31, 2005, up from Rs 169.89 crore during the previous year. The bank has proposed a dividend of 250 per cent (Rs 25), according to a bank release. Net profit was up at Rs 82.35 crore (Rs 80.68 crore). The business volume stood at Rs 7,453 crore, up by 14.34 per cent. While deposits increased to Rs 4,826.88 crore, advances rose to Rs 2,626.24 crore, with CD ratio improving from 47.99 per cent to 54.40 per cent. The net NPAs for the year have been brought down from five per cent to 2.95 per cent. The merchant trading turnover of the bank's forex operations increased to Rs 2,740 crore.
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