Tamilnad Mercantile Bank net profit jumps 28% on core income growth

The Tamilnad Mercantile Bank (TMB) on Monday reported a 28 per cent rise in its net profit to Rs 373.65 crore in the last quarter of FY2025-26, helped by an expansion in the net interest margin. The bank had reported a net profit of Rs 291.90 crore in the same quarter of the last fiscal. "For the first time, we are seeing the core business, the core business of deposits, deposit taking and lending, is driving the profit. This has resulted in the net interest income going up 24 per cent," Salee S Nair, managing director and chief executive officer of the bank, said. The core net interest income rose 24.04 per cent year-on-year to Rs 704.45 crore in Q4FY26, from Rs 567.92 crore in a similar quarter a year ago. In the reporting quarter, net interest margins (NIM) of the bank improved to 4.18 per cent, from 4.04 per cent in a quarter ago period, and 3.91 per cent in a year ago period, while the advances grew over 20 per cent. The bank is targeting to maintain the advances growth in FY

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