Business Daily from THE HINDU group of publications
Tuesday, Aug 14, 2007
ePaper
Business Daily from THE HINDU group of publications Tuesday, Aug 14, 2007 ePaper |
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Money & Banking
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Private Banks States - Andhra Pradesh TMB opens branch in AP
Our Correspondent Madurai, Aug. 13 Tuticorin-based Tamilnad Mercantile Bank opened its 189th branch with ATM and locker facility at Nandyal in Andhra Pradesh. Speaking on the occasion, Managing Director and CEO of the bank, Mr G. Narayana Moorthy, said the bank would increase the network to 200 by November 2007. The bank would soon approach the Reserve Bank of India for 50 new branches and would ensure that at least 15 of them would be opened in Andhra Pradesh. The bank has introduced more retail products such as TMB Traders, TMB Education, TMB Tractor, TMB Easy Mortgage etc. targeting retail advances with low interest rate comparable with other banks and has given loans to1781 self-help groups to the tune of Rs.12.79 crores. The bank has continuously been earning profits since inception and has a net worth of Rs 759 crore as at the end of March 2007.
More Stories on : Private Banks | Andhra Pradesh
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