Tamilnad Mercantile Bank Q2 Earnings: Profit Jumps 42%, NII Surges 35% | Business News | ET Now
ET Now · 27 Oct 2026 · 10 min
Management interview of Tamilnad Mercantile Bank Ltd (TMB), with 10 key numbers discussed.
- Salee S. Nair, MD & CEO, Tamilnad Mercantile Bank
Tamilnad Mercantile Bank reported 29%+ growth in advances for Q2, driven by MSMEs and gold loans, and targets sustained growth of not less than 22%. To ensure resource security, the bank raised term deposits, especially non-callable deposits, which led to a 17 bps rise in deposit costs. NIM moderated slightly to 4.19% due to higher allocations to the lower-yielding investment portfolio, but advance yields increased to 10.32%. Additionally, the bank has proactively covered over Rs 3bn of an estimated Rs 3.85bn ECL requirement.