Monday, 9 January 2017
Tamil Nadu Mercantile Bank Ltd (I.E TMB BANK) Declares Interim Dividend for FY 2016.
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ISIN NO. – INE668A01016
Tamil Nadu Mercantile Banks Ltd is a part of Nada Group. It has it’s strong network in South of India and is on expansion mode all across the country. TMB an unlisted bank plans to increase the branch network to 511 branches by adding more than 24 branches and 135 ATMs across the country. TMB Bank shall come up with an IPO but issue is still pending among the Nadar Community as they are restrictive over sharing of controlling stake.
TMB Banks declared Third Interim Dividend of 20% (I.E Rs. 2/shr) for FY 2017 with Record Date of 9th January, 2017 and paid Second Interim of 40% with record date 30th June, 2016.
TMB Bank Showcases Total Business of around Rs. 52946.59 crs for the year 2016. Total Income was Rs. 3571crs in FY16 (Rs. 3127crs in FY 2015) And Profit after tax was Rs.404 crs in FY 2016 (Rs. 383 crs in FY 2015).Provision coverage ratio of Tamil Nadu Mercantile bank stood at 71% and Bank displayed a lower GNPA & NPA ratio of 1.89% and 0.89% respectively. Equity Paid up of TMB Bank has increased to Rs. 142 crsfor 2016 due to bonus issue 1:1 ratio with a record date of 25th May 2016.
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