Tamilnad Mercantile Bank convenes its 103rd AGM, strengthens its operational strategy
FinTech BizNews Service
Mumbai, August 8, 2025: Tamilnad Mercantile Bank (TMB), one of India’s oldest private sector banks, today convened its 103rd Annual General Meeting (AGM) at its headquarters in Thoothukudi. The meeting saw strong shareholder participation and highlighted the Bank’s solid performance, while also unveiling forward-looking strategic interventions aimed at sustaining long-term growth and deepening customer engagement.
During the AGM, Mr. Salee S. Nair, Managing Director & CEO of Tamilnad Mercantile Bank, presented the Bank’s performance and future direction. He stated, “This was a year of measured expansion and digital acceleration, where we stayed firmly focused on stability, scalability, and service excellence. We introduced` structural changes to sharpen our business segmentation, enhanced digital platforms to elevate customer experience, and maintained superior asset quality and capital adequacy. Our approach continues to be rooted in customer trust, operational discipline, and technology-driven delivery models to build a future-ready institution.”
Among the notable initiatives introduced during the year, the Bank formed new business groups to bring greater focus and efficiency in key verticals. The Transaction Banking Group (TBG) was set up to serve institutional and corporate customers with tailored cash and trade solutions.
To deepen the Bank’s presence among diaspora clients, a Global NRI Centre (GNC) was launched. Additionally, a new Elite Service Group was created to serve high-value individual customers with personalised offerings. These verticals reflect TMB’s evolving customer engagement strategy, focusing on segmentation-led service excellence.
In a bid to enhance its digital banking infrastructure, the Bank is working on rolling out a Digital Engagement Hub (DEH) in collaboration with EdgeVerve (a subsidiary of Infosys). This marks a significant upgrade of its internet banking capabilities and supports a modern omnichannel experience.
Another key initiative during the year was the establishment of a Credit Management Centre (CMC), designed to manage the entire lifecycle of loans (excluding jewel loans). This centralised hub has enabled branch teams to redirect their focus toward deposit mobilisation and customer servicing.
Partnering with Oracle and Deloitte India, the Bank has delivered a future – ready solution powered by Oracle Fusion Cloud Applications for end-to-end Sales & Services through Oracle CX and for Expenses Management through Vendor Management System.
Beyond digital and structural upgrades, the Bank announced its partnership with Bajaj Broking to offer a 3-in-1 account—a first-of-its-kind move by TMB bringing together savings, demat, and trading into one seamless product experience.
The Bank also enabled CBDT and GST payment facilities through its banking channels, aligning with its push toward becoming a full-spectrum, tech-enabled financial service provider. These services further reinforce TMB’s digital capabilities and its role in supporting formal economic activity.
The Bank also shared that its RAM (Retail, Agriculture, and MSME) segment now contributes 93% of total gross advances, up from 91% the previous year, reflecting its continued commitment to inclusive and priority-sector lending.
During the AGM, the Board proposed a final dividend of Rs11 per equity share (110% of face value), in line with its tradition of rewarding shareholders.
Notably, many of these initiatives are new introductions not previously included in the Bank’s quarterly disclosures, marking a clear shift in its operational strategy and digital vision. TMB’s leadership reaffirmed its strategy to build a modern and resilient institution with strong fundamentals and a progressive digital outlook, even as the macroeconomic environment continues to evolve.
