2 weeks Ago
Tamilnad Mercantile Bank (TMB), on Monday held its 102nd Annual General Meeting (AGM) at its headquarters in Thoothukudi. During the AGM, the bank highlighted its continued focus on growth and transformation, laying out a comprehensive plan for expansion and digitalisation to drive future growth. TMB plans to open 40 new branches across various regions, expanding its footprint beyond Tamil Nadu , with a special focus on the MSME sector, retail growth and digital banking services.
Salee S Nair , Managing Director & CEO, Tamilnad Mercantile Bank, said in a statement, “At TMB, we are committed to accelerate the growth through collaboration, excellent customer service, compliance and risk management. We also aim to scale our banking system and optimise our capital allocation through careful compliance with regulatory frameworks by embarking on digital transformation. Our goal is to create a more agile, customer-centric bank, enhancing services while safeguarding financial stability.
” To strengthen the MSME portfolio, the bank has hired a global consultant, reinforcing its commitment to boosting the sector with innovative solutions and improved lending capabilities. In addition, eight MSME hubs have been established, with plans to introduce one hub in each of the 12 regional offices. In line with its growth strategies, TMB is targeting a significant increase in deposit growth, aiming to double its current growth levels.
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P. Gupta, Professor: Department of Finance and Business Economics, University of Delhi View Program In the coming year, TMB will focus on expanding retail and MSME portfolios. Alongside, the bank’s digital transformation strategy is a key growth driver, with a strong emphasis to enhance cybersecurity and improve customer experience through online banking platforms.
The Bank will continue to protect its NIM at 4%, with initiatives in place to optimise capital allocation and enhanced operational efficiency, added Nair..
