Tamilnad Mercantile Bank (TMB) on Monday reported a 35 per cent jump in net profit to Rs 412 crore for the first quarter ended June 30 on improvement in its core income.
The bank had a net profit of Rs 305 crore in the June quarter of the previous fiscal.
The total income rose to Rs 1,901 crore during the June quarter of the current fiscal year from Rs 1,617 crore in the same quarter of FY26, TMB said in a regulatory filing.
Interest earned by the bank improved to Rs 1,662 crore, as compared to Rs 1,386 crore in the June quarter of FY26.
Net Interest Income of the bank rose by 32 per cent to Rs 765 crore from Rs 580 crore in Q1 of the previous financial year.
In a post-result interaction with media, Tamilnad Mercantile Bank MD and CEO Salee Sukumaran Nair said the bank is exploring an option of opening a representative office overseas to mobilise deposits from NRIs.
With regard to IT spending, he said the bank would spend Rs 280 crore on improving infrastructure, mobile app etc.
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