TMB profits decline by Rs 29 cr
Tamilnad Mercantile Bank posted a net profit of Rs 580 crore this fiscal, declining by Rs 29 crore from the corresponding period last year.
By PTI |
TUTICORIN: Tamilnad Mercantile Bank posted a net profit of Rs 580 crore this fiscal, declining by Rs 29 crore from the corresponding period last year.
Deposits increased to Rs 4827 crore from last year's Rs 4404 crore while the advances increased from Rs.2114 crores to Rs.2626 crore, S Radhakrishnan, chairman of the bank told reporters here on Thursday.
The bank had posted a profit of Rs 609 crore in the same period last year.
However, considering the continued satisfactory performance and overall growth during 2004-05, directors have proposed to recommend a dividend of 250 per cent to share holders as against last year's 100 per cent, he added.
The decisions were taken at the 83rd annual general body meeting of the bank held here.
Board of directors Ramachandra Adityan, Arvindh Pandian, Balasubramanian and DGM Rajan Selvandurai were among those present.
Deposits increased to Rs 4827 crore from last year's Rs 4404 crore while the advances increased from Rs.2114 crores to Rs.2626 crore, S Radhakrishnan, chairman of the bank told reporters here on Thursday.
The bank had posted a profit of Rs 609 crore in the same period last year.
However, considering the continued satisfactory performance and overall growth during 2004-05, directors have proposed to recommend a dividend of 250 per cent to share holders as against last year's 100 per cent, he added.
The decisions were taken at the 83rd annual general body meeting of the bank held here.
Board of directors Ramachandra Adityan, Arvindh Pandian, Balasubramanian and DGM Rajan Selvandurai were among those present.
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