Tamilnad Mercantile Bank Limited was incorporated in the name of Nadar Bank Limited' on May 11, 1921 at Thoothukudi, Tamil Nadu as a Limited Company under Indian Companies Act, 1913 pursuant to a Certificate of Incorporation issued by the erstwhile Assistant Registrar of Joint Stock, Palamcottah. Subsequently, the name of the Bank was changed to Tamilnad Mercantile Bank Limited', effective from November 27, 1962, pursuant to a Letter of Approval from the Government of India dated November 14, 1962 and a fresh Certificate of Incorporation dated July 17, 1968 was issued by the Assistant Registrar of Companies, Madras. Presently, the Bank is engaged in providing a wide range of banking & financial services involving retail, corporate banking and para-banking activities in addition to treasury and foreign exchange business.
On November 11, 1921, the Bank commenced business at Thoothukudi, in Tamil Nadu. In 1933, it acquired its first property at Beach Road, Thoothukudi, in Tamil Nadu. On May 11, 1935, it was included in the second schedule to the Reserve Bank of India Act, 1934. It was granted the licence to carry on banking business in India by RBI on November 20, 1962. It opened a a rural branch at Vilathikulam, Tamil Nadu in 1968. In 1993, it was registered as Category-1 Merchant Bankers with SEBI and opened first currency chest at Madurai Branch.
The Bank was granted licence to deal in foreign exchange in 1999. It launched first ATM, christened as TMB Surabhi, in Chennai in 2004. In 2005, it launched first insurance linked deposit scheme, christened as Siranjeevee Recurring Deposit. It launched SMS banking services and internet banking facilities, christened as TMB E-Connect in 2008. It launched mobile banking facilities in 2012. It signed an agreement for the issuance of PAN cards in 2014.
As of June 30, 2021, the Bank had 509 branches, of which 106 branches were in rural, 247 in semi-urban, 80 in urban and 76 in metropolitan centres. It built a strong presence in the state of Tamil Nadu, with 369 branches and 941 automated teller machines (ATMs) and 238 cash recycler machines (CRMs). The Bank offer a wide range of banking and financial services primarily to micro, small and medium enterprises (MSME), agricultural and retail customers, operating in manufacturing, trading and services sector.
During 2021-22, the Bank had 509 branches, of which 106 branches were in rural, 247 in semi-urban, 80 in urban and 76 in metropolitan centres. It introduced 9 new ATMs, 22 new CRMs. The Bank's ATM and alternate delivery channel network stood at 1141 ATMs, and 282 CRMs.
The Bank launched an initial public offering by issuing 15,840,000 Equity Shares having the face value of Rs 10 per share, by raising funds aggregating to Rs 807.84 Crore through fresh issue in September, 2022.
During the year 2022-23, the Bank added 21 new branches and the branch network of the bank increased to 530 branches. In addition to that, the Bank added 50 new ATMs / CRMs and 12 new e-lobbies. The Bank's ATM and alternate delivery channel network stood at 1,149 ATMs, 324 CRMs, 113 e-lobbies, covering 17 States and 4 Union Territories.
Total Business has increased to Rs 89,485 Crore in 2024 from Rs 85,348 Crore in 2023. Total Income has moved to Rs 5,493 Crore from Rs 4,710 Crore in 2023. Net profit has surged to Rs 1,072 Crore in 2024 from Rs 1,029 Crore in 2023.
In 2023-24, the Bank added 22 new branches and the branch network of the bank increased to 552 branches. In addition to that, the Bank added 8 new ATMs , 34 CRMs and 7 new e-lobbies. The Bank's ATM and alternate delivery channel network stood at 1157 ATMs, 358 CRMs, 126 e-lobbies, covering 17 States and 4 Union Territories.
In 2024-25, the Bank added 26 new branches and the branch network of the bank increased to 578 branches. In addition to that, the Bank added 4 new ATMs , 22 CRMs. The Bank's ATM and alternate delivery channel network stood at 1150 ATMs, 380 CRMs, 124 e-lobbies, covering 17 States and 4 Union Territories.
Total Business has increased to Rs 98,055 Crore in 2025 from Rs 89,485 Crore in 2024. Total Income has moved to Rs 6,142 Crore from Rs 5,493 Crore in 2025. Net profit has surged to Rs 1,183 Crore in 2025 from Rs 1,072 Crore in 2024. The Bank's Net worth increased to Rs 9,009 crores in 2025 (2024 Rs 7,921 crores) with an absolute rise of Rs 1088 crores registering a growth rate of 13.74%. The aggregate Deposits of the Bank as on March 31,2025 stood at Rs 53,688.96 crores, registering a growth of 8.43% over Rs 49,515.07 crores as on 31.03.2024.
In FY 2025, the Bank launched formation of Transaction Banking Group (TBG), Global NRI Center (GNC) and Elite Service Group (ESG) for rapid growth in Deposits, through excellence in service delivery and ease of doing business. Formation of Credit Management Centre (CMC) to handle entire life cycle of advances, with state of the art digital technologies.