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Thoothukudi -headquartered Tamilnad Mercantile Bank has reported a net profit of Rs, 821.9 crore for FY 2022, an increase of 36.2 percent.
The private sector bank recorded a net profit of Rs. 603.3 in FY21.
Tamilnad Mercantile Bank has released its annual report for the financial year 2021-2022. The total income of the bank was reported as Rs 4,656.4 crore for FY 2022, an increase of 9.4 percent when compared to the previous year. The business of the bank also flourished and rose by 8.8 percent for FY 2022 at Rs. 78,422.6 crore as compared to Rs. 72,040 crore for the corresponding year of FY21.
The operating profit of the bank has increased by 27 percent to Rs. 1526.7 crore for FY22 as compared to Rs. 1,202 in FY21.
