Money & Banking

TMB net profit up 49.5%

Our Bureau Madurai | Updated on January 10, 2011 Published on January 10, 2011

Mr A K Jagannathan, Managing Director and CEO

Tamilnad Mercantile Bank has posted 49.52-per cent growth in net profit at Rs 178.56 crore for the nine months ended December 31, 2010, according to its unaudited financial results.

This is against Rs 119.42 crore recorded in the year ago period.Announcing the results, Mr A.K.Jagannathan, Managing Director and CEO of the bank, in a press release, said that the operating profit increased by 55.38 per cent at Rs 298.48 crore from Rs 192.10 crore.

The growth in non-interest income has been at 34.11 per cent. The total business of the bank increased by 21.91 per cent to Rs 21,623.72 crore from Rs 17,738.06 crore.

CASA deposit increased by 22.49 per cent to Rs 2,952.51 crore from Rs 2,410.43 crore on a year-on-year basis.

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Published on January 10, 2011
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