The Hindu Business Line : TMB opens 197th branch

Tuticorin-based Tamil Nadu Mercantile Bank (TMB)'s 197th branch, fully computerised and with safe deposit locker, was inaugurated by Mr A. Sakthivel, President, Tirupur Exporters Association, at Perumanallur in Coimbatore district, recently.

Speaking on the occasion, the Managing Director and CEO of the bank, Mr G. Narayana Moorthy, said the bank will have 200 branches before the end of December 2007. The bank has a number of schemes for the development of agriculturists and advances amounted to the tune of Rs 741.92 crore, constituting 17.68 per cent of the bank's net credit. The bank has achieved a foreign exchange turnover of Rs 3,922 crore for the year ended 2007, and has set a goal of Rs 5,000 crore for the current financial year, he added. - Our Correspondent

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