Tamilnad Mercantile Bank will focus on retail, agriculture and MSME sectors and phygital expansion

Tamilnad Mercantile Bank will focus on retail, agriculture and MSME sectors and phygital expansion

Tamilnad Mercantile Bank will focus on expanding its retail, agriculture and MSME (RAM) loan book and expand its physical and digital (phygital) in near future in the state of Tamil Nadu. The 100-year old Tuticorin
 headquartered bank has 88% of its loans comprising retail, agriculture and MSME loans.

Tamil Nadu accounts for over 75% of TMB's total business and 85.03% of its overall customer base. The bank is tapping the high growth potential in states where it has a strong presence such as Tamil Nadu. TMB has a strong understanding of the RAM segment with the segment growing at 15.21% over the past three years.
TMB is a well-recognised scheduled commercial bank having a strong network of 509 branches of which 106 branches are in rural, 247 in semi-urban, 80 in urban and 76 in metropolitan centers. 

TMB has built a strong presence in Tamil Nadu with 369 branches and 949 automated teller machines and 255 cash recycler machines, 91 E-Lobbies, 3,939 PoS.

TMB is also looking at semi-urban and rural markets and is targeting retail customers from weaker sections covered under the priority sector. TMB is also increasing its focus in the retail segment and expanding its car and personal loan segments. The bank also aims to expand its retail asset processing centres with a dedicated home loan sales team posted to drive its home loan portfolio.

TMB will increase its focus on fee-based products such as debit cards, credit cards, general insurance, life insurance, depository services and bill payments for existing and new customers.

TMB is also working on expanding its physical and digital presence to tap the huge growth potential of the banking sector. TMB is adopting the 'phygital' approach to sustainable and scalable growth and aims to invest and innovate its technology architecture.

TMB's digital banking channels enable a smooth transition from physical to digital usage and enhance customer experience, designed to grow its business and serve customers through value-added services.

Apart from its home state, Tamil Nadu, TMB focuses on diversifying their reach in their already existing network including in the states of Gujarat, Maharashtra, Karnataka and Andhra Pradesh. As on March 2022, the bank has deposits of Rs.44,930 crore and advances of Rs.33,490 crore.

Tamilnad Mercantile Bank listed on the bourses on September 15, 2022. The IPO received an overall subscription of 2.86 times.
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