Tamilnad Mercantile Bank expands nationwide, opens six new branches, ET BFSI

Tamilnad Mercantile Bank inaugurated six new branches below its enlargement plan throughout the nation, together with a brand new department in Ayodhya, Uttar Pradesh, a prime official stated. The Tuticorin-based financial institution inaugurated a department in Rathinapuri, Coimbatore; two branches in P N Highway and Peruntholuvu within the Tiruppur district; Ettayapuram in Tuticorin; Karimnagar in Telangana; and Ayodhya in Uttar Pradesh.

“Our financial institution has opened six new branches. We even have plans to open many extra branches within the close to future throughout India. It offers us immense pleasure to share this momentous enlargement with all our stakeholders,” the financial institution’s Managing Director and CEO, Salee S Nair, stated in a press release on Saturday.

The financial institution reported a 6 per cent rise in its October-December 2024 internet revenue at Rs 300.24 crore, up from Rs 284.23 crore registered within the corresponding quarter of the earlier monetary yr.

The web revenue for the 9 months ending December 31, 2024, grew to Rs 890.71 crore from Rs 818.97 crore registered a yr in the past.

Together with the brand new branches, Tamilnad Mercantile Financial institution has 578 branches and 12 regional offices throughout 17 states and 4 Union Territories, the assertion stated.