TMB achieves a total business of 54,162.47 crore

The total business of Tamilnad Mercantile Bank (TMB) at the end of fiscal year 2017 was Rs.54,162.47 crore with a growth rate of 2.30 % on year-on-year basis.

The bank’s deposit portfolio recorded a growth rate of 6% to touch Rs.32,190.15 crore and the advances level stood at Rs.21,972.32 crore, S. Annamalai, Chairman, Board of Directors, TMB, told a press conference here on Wednesday.

With the bank’s office being headquartered in Thoothukudi, it has been giving a continued thrust on advances to priority sectors like agriculture, MSME, education and housing. The advances to priority sector increased from Rs.11,976.95 crore to Rs.12,960.75 crore with a growth rate of 8.21 %.

As for business plan targets in 2017-18 fiscal year, the bank’s total business was aimed at crossing Rs.60,000 crore. Ten more e-lobbies would be set up during this fiscal, he said.