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MSME lender Tamilnad Mercantile Bank to set up first branch in North-East

Updated: Jan 27, 2023 07:13:43am

MSME lender Tamilnad Mercantile Bank to set up first branch in North-East

Chennai, Jan 27 (KNN) Tamilnad Mercantile Bank (TMB) has confirmed that it will very soon have its first footprint in North East India as it is set to open 25 new branches by March this year.

“We got the RBI approval by the end of the last quarter. Immediately after that, we started two more branches and now the plan is to add 25 more branches across the country by the end of March. Very shortly, we will have our first footprint in North East India too,” said S Krishnan, managing director and chief executive officer of the bank.


With an aim to retain 80-85 per cent of its total loan portfolio form small business, TMB has also said it will continue its focus on the retail, agriculture and MSME (RAM) segments, reported Business Standard. 

Established as Nadar Bank and catering to MSMEs, agricultural and retail customers, currently known as TMB is one of India’s oldest private sector banks.

In the third quarter of the current financial year, the share of RAM in its portfolio was 89 per cent, up from 87 per cent in the July to September period.

Krishnan said that RAM segment always has a multiple advantage, as my risk is diversified.

“This bank, for 100 years, is well tuned with MSMEs and its trading. We understand the nuances of MSMEs very well and MSME units also understand the bank,” added Krishnan.

“Going forward also, it may be the same as in the range of 80-85 per cent. We will also take up the corporate segment. But the focus will continue to be on RAM,” he said.  (KNN Bureau)


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