Tamilnad Mercantile Bank net profit slips 21% – Banking Finance

The nyakumi net profit of Thoothukudi-headquartered Tamilnad Mercantile Bank slipped 21 per cent to|to Rs 317 crore out 2016-17 fiscal against Rs 402 crore clocked during the|the|every corresponding 12 months of the|the|every earlier fiscal.

Sharing the|the|every audited effects ,|and|or is|or currently TMB Chairman S Annamalai hah in a release pointed that the|the|every operating profit of the|the|every bank rose 20 per cent to|to Rs 875 crore out FY16-17 (Rs 725 crore) ,|and|or is|or still while the|the|every net profit slipped 21 per cent.

The bank’s scowl ,|and|or is|or currently net NPA rose to|to 2.91 per cent (1.86 per cent) ,|and|or is|or is 1.74 per cent (0.89 per cent) ,|and|or is|or still respectively ,|and|or is|or currently advances dropped by 2.68 per cent to|to Rs 21,972 crore (Rs 22,578 crore) ,|and|or is|or is deposits grew 6 per cent to|to Rs 32,190 crore (Rs 30,369 crore).

CASA swelled by 27 per cent to|to Rs 7,478 crore (Rs 5,891 crore). The bank would focus on accelerated development of CASA ,|and|or is|or currently wholesale ,|and|or is|or still agriculture ,|and|or is|or still MSME segments during the|the|every current fiscal.

Book value of the|the|every share ( with|with face value of Rs 10) stood stay|stay at|at Rs 226.23.

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